Hard Money Lender for the USVI

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  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    2y

    Hey Lynique, 

    Would this be your first fix and flip/hold? 

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
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  • Lynique Burnett
    OP
    Member since 2022 · 4 posts · 0 votes
    2y
    This would be my first hold.
    Quote from @Lynique Burnett:


    I'm looking for a hard money lender willing to do business in the USVI St. Thomas. The islands have a lot of potential for building and buying properties.

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    2y

    @Lynique Burnett

    What’s great about USVI is they are a us territory

    As a place I frequently visit I would love to develop on the island. Challenge is have found to date is everyone have reviewed partnerships with has no real estate experience or skin to put in the game which kills the deal

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  • Lynique Burnett
    OP
    Member since 2022 · 4 posts · 0 votes
    2y

     I agree to a certain extent with your statement. However, there are a lot of people on the island who do have real estate experience and who have an inner understanding of real estate here in the territory. However, The VI has excellent potential if someone is willing to provide a market for Hard Money Lenders. Many are looking for homes to build and fix; there is land to buy and money to make. It is all about thinking outside the box. Respectfully 

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  • Ryan Davies
    Investor · Salt Lake City, UT · Member since 2019 · 339 posts · 126 votes
    2y

    Typically our lending partners programs are as follows:

    • Rates: 10% to 14% (Most Deals are 12%)
    • Terms: 1 Day - 24 Months (Most Deals are 6 months)
    • Fees: 2-5 points(%) of loan amount paid at closing (Most Deals are 3 points(%))
    • Minimum Loan Amount: $50,000 (For loans less than $200,000 we charge $2,500 minimum)
    • Max Loan: 70% of After Repair Value(ARV)
    • 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)
    • Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 10 business days)
    • We have private lending partners throughout the entire United States that cover the following states: AL, AZ, AR, CA, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OH, OK, OR, PA, RI, TN, TX, UT, VT, VA, WA, WV, WI, WY.
    • NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.
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