Hard Money Loans—for people who either need money faster than the conventional loan process or for people who have been turned down by the conventional banks but have a loan scenario that makes good business sense.
We Lend on the following type of properties:
Non Owner Occupied Single Family Residences
Multi Family Buildings
Commercial
Office Buildings
Industrial Buildings
Self Storage Facilities
Strip Centers
Mixed Use Properties
Skilled Nursing Facilities
Hospitality
What we do not lend on or do:
Land
Ground Up Construction
Project Development
Churches
Golf Courses
Restaurants/Bars/Nightclubs
We actively solicit loans in the following states:
CA, NV, AZ, WA, OR, NM, CO, IA, ND, IL, OH, TX, MO, TN, OK, GA, NC, SC, FL
However; we will lend anywhere in the United States if we like the deal.
Some of our most recent fundings include:
1. $3.1 mil Refinance on a Grocery-Anchored Retail Center located in the Chicago IL area
2. $3.19 mil Purchase Loan on a 423 Unit Multi Family Residence located in Atlanta GA
3. $4.4 mil Discounted Note Payoff on a Portfolio of Commercial Properties in Michigan
4. $3.6 mil Purchase Loan on a 354 unit Multi Family Residence located in Jacksonville FL
5. $2.47 mil Purchase Loan on a 200 unit Multi Family Residence in Las Vegas NV
Our Minimum loan amounts are as follows:
$200k In California and Las Vegas
Everywhere else b/t $500k to $ 1 mil
90% of our loans fall between the following terms:
$500k-$ 6 million in size (we will go as high as $10-$12 mil per loan)
60% LTV or 65% Loan To Purchase (whichever is less)
1-2 years (we will consider a series of two 6 month options for and added cost)
Interest only
10% -12%
2-4 lender points
6 months prepayment penalty
1st Deed Trust
**We would consider providing 100% Financing if the borrower has additional collateral to cross**
Typical Loan Scenarios:
Discounted Note Payoffs (We have a strong appetite for these)
Purchase Money & Refinance Transactions
Bank Turn Downs
Need Cash Fast
Cash Out
Note Purchases
Make Sense Lending
Why Use Us:
Quick
Experienced
Flexible
Sensible/Creative Underwriting Guidelines
Broker Friendly
***Because we place investor money in both a fund structure and in a syndicated fashion through a private investor pool, our lending platform is very flexible, which allows us to capitalize and be creative in our underwriting when we see the opportunity.
No upfront fees other than Direct Expense of Loan. Our process is:
1. Review the project
2. Conference call with Principal & Broker
3. LOI to end the negotiations & set aside money
4. Direct Expense of Loan- In SoCal-$1500 - $2000. Outside of SoCal- $3000 - $10,000(Estimate)
Direct Expense of the loan consists of Site Visit (airfare, Rental Car & Hotel stay if necessary), Loan Docs, Borrower/s Background Check, Legal and Due Diligence
**Rodeo capital does not profit on any of these costs at all and invoices will be available upon request.
We look for the following 3 things in every Loan:
1) 60% LTV or 65% Loan to Purchase
2) Borrower/Property with the ability to Service our interest only debt
3) Clear Exit Strategy from our loan
If you have a funding request to make; please e mail over the following 8 questions answered. Based on your answers; we will give you our level of interest and what documents are needed to arrive at a funding decision.
1) size of loan?
2) Type & Address of property?
3) Value of property? (please be prepared to back up this value with docs)
4) Use of proceeds?
5) Length of loan?
6) Exit strategy?
7) Borrower’s expectation of rate & points?
8) Besides you…are there any other brokers attached?
Larry @ Lgpotter33@gmail.com
ReplyDeleteDear Sir,
We are Providers of all types of BG and MTN with the best workable procedures. Our BG ranges from MT799, MT760,(Both two way confirmation), MT103/23, MT103 (Both can be one way confirmation and two way confirmation) in USD and EUROS. Issuing Bank ranges from Top world 25 banks with face value ranging from 5M EUROS/USD to IB EUROS/USD
BROKERS ARE WELCOME & 100% PROTECTED!!!
Intermediaries/Consultants/Brokers are welcome to bring their clients and cases to our attention and in complete confidence we will work together for the benefits of all parties involve
For further details contact us with the below information Thank you.
Mr.Almutairi Abdulrazaq
For further inquiries:
Contact Email : broker.mutairi@gmail.com
Skype: broker.mutairi