This came in Thursday july 9, 2009 from Brian, a bridge lender. Bridge loans are short term loans normally a year in length though some can be extended to two years for an additional fee.
He wrote this material. I have not edited it.
My name is Brian O’Shxxxxxxx and I am private investor that has a healthy appetite for Bridge loans. I am on the constant look out to deploy my personal capital, the capital of my family trust, and the capital of my fund (The Rxxx Fund) in to short term and low LTV loans on commercial income producing and n/o/o 2-4 unit residential properties.
I will lend in all 50 states and I am quick and efficient. So if you have a borrower that is in need of a bridge loan please make me your first choice. Stop dealing with large firms that have many layers of management between you and your answer. Why don’t you just deal directly with the guy who is actually going to fund your loan…..ME!
Also during this current lending climate, when so many people are representing them self’s as lenders and all they are, are pretenders, it is commonly asked of me to prove that I am a direct lender. This is a very fair question! So upon request I will deliver a recent list of fundings with property addresses so you can pull up my recorded deed of trust or mortgages and see that I am actually a direct lender! Below are some guidelines of what I do lend on and don’t lend on.
Properties I love for my fund or my own portfolio:
Groups of n/o/o condos
n/o/o 2-4 units
Rehabs loans for multifamily.
Properties I will consider:
Mobile home parks
Motel and Hotels flagged and non flagged-in conjunction with a capital partner
Gas Stations branded and non branded–in conjunction with a capital partner
Properties I will NOT lend on:
And yes Land
Golf courses-yes even if its Tiger Woods personal course.
Water treatment plants
Geo thermal power plants
Nuclear power plants
Clean green alternative fuel power plants
Disney Land-yes even if Mickey is going to personally guarantee it.
Up to 65% on really good deals.
In house-up to 1 to 2 million and as low as 25K.
In conjunction with capital partners-50 million
Recently Closed Loans:
|$216,000 1st Mortgage on a Owner/User retail building in Tacomoa, WA.
$100,000 1st Mortgage on a mixed use 2 unit building in San Leandro, CA.
$150,000 1st Mortgage on 9 Units in Portland, OR.
$325,000 1st Mortgage on 9 Condos in Palm Beach, Florida.
$242.5K 1st Mortgage on a 5 Unit building in Huntington Park, CA.
$200K 1st Mortgage on a Office/Warehouse in Grand Ledge, MI.
$760K 1st Mortgage on a “Non” Branded Gas Station in Sacramento, CA.
$600K 1st Mortgage secured by 2 condos on Ohau, Hawaii.
In today’s environment the key to sound financial growth is through investment diversification. With the ever changing markets there is a real need and high demand for solid investments with yields that far exceed traditional depository and or CD’s yields. The Stock Market is and always has been a fluctuating vehicle and only those that have the where with all, knowledge, and for the most part time to spend serious energy on statistical and market trend analysis can achieve success.
However, even the most experienced investor is playing a game and risks the potential loss that can occur for may variables outside of their control. So how do you find an investment vehicle that provides a monthly return at a high yield? Certainly no depository, CD, or Bond can provide that yield you seek. The Stock Market can result in high yields but the risk is again tremendous. The happy medium lies in high yield with minimal risk. Investing in mortgage backed assets is a valuable way to increase your yield and realize little risk as in the majority of the options any risk is spread very broad across an entire pool of individual Mortgages or Trust Deeds.
Private Lenders offer this opportunity at varying levels of yield and associated risk detailed below. For a more in depth explanation of this opportunity please contact one of our friendly and informative Investment Counselors.
Individual Trust Deed investments
JUMBO BRIDGE PRODUCT
LENDING PARAMETERS OVERVIEW:
Interest Rates: 9.99% ‐14.99%
Amortization: Interest Only
LTV: Up to 80% on income producing properties
CLTV: Up to 85% on income producing properties
Origination Fee: 3 ‐5% taken at closing from the loan proceeds
Loan Terms: 12 to 36 Months
Closing Times: 3 to 4 Weeks
Loan Size: $2,000,000 to $50,000,000 +
Credit: 600+ FICO
Subordinate Financing: Allowed. Max CLTV is 85%
Cash Down: Minimum 15% down or equity in the property
Collateral types we ARElooking for:
Multi Family Complexes: Up to 80% LTV
Multi Family Rehab: Must be 50% Occupied (ltv case‐by‐case)
Mixed‐Use Up to 80% LTV
Lite Industrial: Up to 80% LTV
Apartment Buildings: Up to 80% LTV
Warehouses: Up to 80% LTV
Office Buildings: Up to 80% LTV
Hotels: Flagged and a 3 Star rating up to 65% LTV
Grocery Anchored Retail: Up to 80% LTV
Student Housing: Up to 80%
Parking Garages: Up to 80%
Collateral types we areNOTlooking for:
Land, Land,Land, Land Gas Stations
Owner Occupied Properties ThemeWater Parks
“White Elephants” (very large vacant facilities) Golf Courses
Hospitals Daycare Centers
Assisted Living Heavy Industrial Facilities
Ground up Construction
When fees are mentioned these are the Lender’s Fees. In addition you will be paying a commission to Cash Flow Specialists, Inc. On hard Money and Bridge loans we ordinarily earn 4 points although our commissions are negotiable. Our fee agreement delineates our compensation.
Some choose to hire us for consultation: visit www.joetufo.com/consulting for more information.