All Forum Posts by: Ben Toth

Thanks all! I JOINED!

Congrats! I just followed the group on FB. Please let me know if my team can ever help with mobile park lending or refinancing. Happy to send details and criteria.

Cheers,

Ben

My developer clients are looking for the following: 

• A non-recourse loan using land as collateral 
• Land was appraised for $3.5M (appraisal, which was extremely conservative, was completed this past August - appraisal is available to send)
• Looking for 50% LTV (so $1.75M)
• Lender would go in first position; interest only.
• The existing site has several sports fields and concessions and the developer's long-term goal is to build a sports complex on the site. Preliminary site plan and zoning are in hand.
• Developers need these quick funds to get to full final site plan approval and complete their design, which will also include a revised and approved masterplan.
• Immediately after the bridge loan closes, a major construction company will install (on their own dime) two brand new sports fields (estimated value to be >$1.5M); they are doing this in exchange for a 2.5 acre parcel within the site, which developers can give them post-approval/subdivision. This construction work will obviously immediately increase the land's value.
• After the construction work is complete, a MLB team will very likely relocate their work to this brand new field.

Please email me at [email protected] if the above criteria is possible to achieve. Thanks!

Thanks, all, for the thoughtful replies! Much appreciated.

I'm helping my developer clients secure a non-recourse loan, and hoping to find someone here! Here's the specifics as to what's needed, please:

• Looking for a non-recourse loan using land as collateral (address is in Windsor, Colorado, zip is 80550)
• Land is worth $3.5M (appraisal from this past August - appraisal available to send)
• Ideally aiming for 50% LTV (so $1.75M)
• Lender would go in first position; interest only.

It looks like there's a buyer for this, though I'll let you know if that changes. Thanks!

Not sure I understand, can you please explain, Wayne?

PS - I should add that this is off-market, but that I'm direct to the developer.

An overview of this in-demand loan note is as follows:

• 12-month term
• 18% ROI paid at end of term
• Entry Levels from £25,000
• Multi Currency - EUR / GBP / USD
• French Chateau
• £4m total raise to develop the Golf Course & Spa (this part of the raise is £1.3m)
• Fully open & operational 5* Golf & Spa resort: https://www.tripadvisor.co.uk/Hotel_Review-g1223099-d562355-Reviews-Wyndham_Halcyon_Golf_and_Spa_Resort-Noth_Creuse_Nouvelle_Aquitaine.html

The brochure and FAQ sheet is attached in this link - https://bit.ly/2nYblmQ. If anyone has an interest in moving forward, please let me know; and if you end up purchasing at or above 100K, I would be happy to offer you a buyer's rebate at closing.

Kind regards,

Ben

My colleague and I are selling a package of 42 tenant-occupied homes in Detroit. The cap rate is exceptionally good!

Gross Annual Income: $367,248

Net Operating Income (approximate): $221,000

At an asking price of $1.5M, cap rate is 14.73%!

For Detroit, these are considered high-rent neighborhoods. Here's a link with the rent roll:

https://www.dropbox.com/sh/kfhmc1yfgpvvfpz/AACjMsD...

Agents say this all the time, but this deal truly will not last. Promise. :)