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Ramiro Ramirez
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Refi loan scenario summary - South Bay Lending

Ramiro Ramirez
Posted Dec 27 2023, 12:18

I have a loan scenario. Would anyone be interested in this?

I have a borrower that purchased 13 properties between 2020 and 2023 with cash. They are all non-owner and he’d like to put 55% leverage on all of them. He does have a $25mil loan wrapping up 10 properties and a $5mil wrapping up 2 properties. Would like to refi them and take out an additional $35mil.

This loan could be one blanket loan for 13 individual loans or any combination your investors feel comfortable with. The client will use his business, which generated over $170mil in 2022 and on pace to hit $90Mil+ in 2023, as the guarantor. He wants a 5 year loan for 55% LTV on his luxury properties for operating capital for his Crypto business and for future purchase of more luxury properties.

I have a full file.

Thanks!

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Jason Wray
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Jason Wray
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Replied Dec 27 2023, 12:36

Ramiro,

Its going to be very difficult to fund on all $35M cash out on all properties because all banks try and limit their exposure. Having that much debt on one portfolio carries a huge downside unless you split the investors. It would need to go in for a loan committee review but I would divide those 13 properties up between multiple investors.

Best thing for that client is to start with the first (5) fund them simultaneously. Then set up the next 5 files adding in the new REO and then close them, and so on. I would spread them over a few different programs and investors (5) to Portfolio, (5) to DSCR, (3) to traditional, or NON/QM,

The good thing about them is that they can be cross collateralized to get the funds needed.

At the end of the day it can be done.

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Ramiro Ramirez
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Ramiro Ramirez
Replied Dec 27 2023, 15:09

Hi Jason, 

Thank you for the help!

Would you be interested in some of the properties? 

I can email you more information on the deal.

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Replied Dec 28 2023, 17:36

Hey Ramiro! I would absolutely love to take a closer look at those for you and see what we can do. Are you able to send it over to me? 

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Replied Dec 28 2023, 17:42

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Erik Estrada
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Erik Estrada
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Replied Dec 29 2023, 14:02
Quote from @Ramiro Ramirez:

I have a loan scenario. Would anyone be interested in this?

I have a borrower that purchased 13 properties between 2020 and 2023 with cash. They are all non-owner and he’d like to put 55% leverage on all of them. He does have a $25mil loan wrapping up 10 properties and a $5mil wrapping up 2 properties. Would like to refi them and take out an additional $35mil.

This loan could be one blanket loan for 13 individual loans or any combination your investors feel comfortable with. The client will use his business, which generated over $170mil in 2022 and on pace to hit $90Mil+ in 2023, as the guarantor. He wants a 5 year loan for 55% LTV on his luxury properties for operating capital for his Crypto business and for future purchase of more luxury properties.

I have a full file.

Thanks!


 I agree with Jason on this, 

Many lenders and investors have exposure limits. Hence why having a broker can be crucial for clients of this caliber. 

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Devin Peterson
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Devin Peterson
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Replied Jan 2 2024, 17:25
Quote from @Ramiro Ramirez:

I have a loan scenario. Would anyone be interested in this?

I have a borrower that purchased 13 properties between 2020 and 2023 with cash. They are all non-owner and he’d like to put 55% leverage on all of them. He does have a $25mil loan wrapping up 10 properties and a $5mil wrapping up 2 properties. Would like to refi them and take out an additional $35mil.

This loan could be one blanket loan for 13 individual loans or any combination your investors feel comfortable with. The client will use his business, which generated over $170mil in 2022 and on pace to hit $90Mil+ in 2023, as the guarantor. He wants a 5 year loan for 55% LTV on his luxury properties for operating capital for his Crypto business and for future purchase of more luxury properties.

I have a full file.

Thanks!


 Happy to take a look

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Alex Hunt
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Alex Hunt
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Replied Jan 10 2024, 09:04
Quote from @Ramiro Ramirez:

I have a loan scenario. Would anyone be interested in this?

I have a borrower that purchased 13 properties between 2020 and 2023 with cash. They are all non-owner and he’d like to put 55% leverage on all of them. He does have a $25mil loan wrapping up 10 properties and a $5mil wrapping up 2 properties. Would like to refi them and take out an additional $35mil.

This loan could be one blanket loan for 13 individual loans or any combination your investors feel comfortable with. The client will use his business, which generated over $170mil in 2022 and on pace to hit $90Mil+ in 2023, as the guarantor. He wants a 5 year loan for 55% LTV on his luxury properties for operating capital for his Crypto business and for future purchase of more luxury properties.

I have a full file.

Thanks!


 Ramiro, would love to connect on this. These big loan sizes are my speciality & favorite!

55%LTV should be easy to get, they're free & clear and cash flowing.