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Updated almost 15 years ago on . Most recent reply

User Stats

22
Posts
5
Votes
Michal Rooney
  • Developer
  • Kona, HI
5
Votes |
22
Posts

Commercial loan: Help me make this happen

Michal Rooney
  • Developer
  • Kona, HI
Posted

I need to move a mountain. That’s why I came to BP. I do not expect easy but perhaps what I’m looking for is possible :

I have a commercial deal that I thought lost because another investor took it up. I have since realized they were not able to secure financing (not due to the property itself but their horrible business plan for it). That means I have a small window of time to come up with the funding myself. The down payment is not the question it’s a commercial loan in quick.

I need to finance:
development lots in Hawaii + 2 buildings for 3 million – this is the minimum it establishes cashflow. I have plans and partners, the contractor is at the ready - just need a loan.
I need to do this by: ideally January 1st or ASAP
ITV for lots is a fraction of a percent past 70% I could get that down past 70% if it would make the deal
I will give more specifics if necessary but I am asking if long-term commercial rates are possible on this? Does this happen at 8% considering they are lots at the moment? I am fine with certain balloon payments. I have seen some unique resources on BP and if you have one that fits I would like to tap into those channels - I would really appreciate any feedback in this and yes it is feasible deal that I will carry through on.

note : Thanks to BP I am fully aware how challenging investing is - I have been reading up voraciously - but now it's time to pull the trigger. Thank you for all the past knowledge you've shared here. Oh and I have posted before just cannot access that account.

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