All Forum Posts by: Account Closed

An easy way to help clients separate the two is considering LTC to stand for Loan to Construction vs cost. They tend to understand the concept a bit more clearly.

As a lender, I cant really answer the question directly because I'd consider it to be loaded. Are we comparing apples to apples or apples to oranges? There are way too many variables involved in order to gauge speed and efficiency. I can tell you with complete confidence we could close a bridge or even a refi if the borrower has an 800 FiCO or above and has multiple assets to leverage. The problems or hurdles occur when the property in question is a neglected state, there isnt enough equity in case there is a default in payment or the exit strategy wouldnt suffice an investors requirements.  Hope it helps shed some light.

Partnerships is the only way to go in our business model. For this reason, we are very broker friendly when deals are brought our way. Of course, we all know how business works, especially with direct borrowers coming our direction, but being an outlet to a broker who can't fund a loan is something we take pride in. We are here to be a longterm partner and creating teams (in whatever capacity that may entail). 

We use a CRM system in our company. We've built it custom to where it can track expenses but also track averages on open loans / volumes / investor interest etc. CRMs are the future and allow for multiple custom layering to compliment any specific company's needs. Hope you find that helpful!

@Michele Showalter ill ask some peers if theyre taking on owner occupied loans. We service owner occupied if its being used as a business at this point in time..

Joe,

I just sent you a direct message. Would love to see if we can build a long term partnership.

Thank you!

Steve, let me know if you'd like to speak offline. We represent individuals such as your investors as well. We are a broker friendly and not just direct to borrowers.

Good afternoon, Michele. You state its owner occupied, is it being used as a home office on paper?

That's a fairly tall order, as our other colleagues have advised, 75% is the going rate and that's pushing it for our investors. We prefer 70% max. I wish you success on what you're looking for though.

 @Doug P. There is alot of truth to that, a good chunk of our business has been referrals, at least since I was brought on to the team to expand partnerships. There's something to be said about reputation and word of mouth.