All Forum Posts by: Copelon Kirklin

Up to 70% ARV
15% interest rate
5.25 points
No profit sharing required
CO & MN - 9 mo. term
DC - 6 mo. term
No PPP
SFR 1-4 units only (no condos or townhomes)
Min. loan amount: $50,000
Borrower must be liquid
No FICO requirement (rely on the report more than FICO; if there are concerns, LTV is lowered)
2-3 weeks closing time

Let me know if you have any additional questions or if there's interest. Thank you.

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Originally posted by @Peter Abraham:

i closed an office building with them in Billings MT, very tough deal and they got it done. If they give you an LOI you can count on it going through. I normally don't like upfront fees but theirs is minimal and I did hold my breath til closing but I have no complaints.

Would you have some time to chat today about this? I'm not a fan of upfront fees either but this is a tough deal that seems as though Riverdale is the only lender that can do it. My client is looking for a reference and you could definitely help in that regard.

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Originally posted by @Pavlos Kasselouris:

Originally posted by @Copelon Kirklin:

@Pavlos Kasselouris

Would you entertain 6-6.5%?

Thank you for reaching out! I have been conditionally approved with Quicken loans with a 4.875%, and waiting for the appraisal right now. I wont get 70% which I hoped, but something closer to 62%, but it will give me what I need to go after my next acquisition. Maybe when my credit goes even more up, I will be able to have a second line of credit later on.

If I'm not able to secure financing for the next one do you lend for new acquisitions and up to what LTV? I have run the numbers with a 6% and it works for me.

Yes, I can arrange financing for new purchases. Max LTV would be 75%.

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@Pavlos Kasselouris

Would you entertain 6-6.5%?

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If this is a real discussion from this gentleman, I'm truly amazed. He asks what's wrong, he's told what's wrong and then refutes EVERY...SINGLE...REPLY for 4 pages! So NO ONE has a point @Account Closed?

1 Vote

Originally posted by @Sean Richway:

@Copelon Kirklin If you want send me an email directly to [email protected] and we can discuss in more details.

Sent you an email..

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Let's chat privately @Sean Richway

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The LTC on a typical hard money loan may range anywhere from 65-75%. I know because I arrange financing for these as well. But there's not a large group of hard money lenders waving a 90% LTC flag. Well here's one of the few. It's not nationwide but does cover some pretty good markets. Take a look at the highlights below, Rehabbers...

No Doc - Stated Income
12.99% Interest Rate
5.9 Pts.
2-Yr Term
90% LTC
Up to 75% ARV
No Prepay
$60,000 Min. Loan Amount
550 FICO Min.
Title MUST Be Held in Company or Trust
7-10 Days
SFR 1-4 Units, NOO
Available in: FL, GA, IN, NC, TN, TX, & VA

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Hi @Michelle Nelson

When you state you're looking for a HML to provide some upfront cash, can you clarify? Also, how much can you bring to the table?

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All Forum Posts by: Copelon Kirklin

Copelon Kirklin has started 45 posts and replied 172 times.

Post: hard money lenders

Post: 100% Fix/Flip Financing...

Post: Riverdale Funding

Post: Looking for a Lender to Refi in Florida

Post: Looking for a Lender to Refi in Florida

Post: Do you see anything potentially wrong with this plan for residential new construction?

Post: High Leverage Fix & Flip Loans - 90% LTC

Post: High Leverage Fix & Flip Loans - 90% LTC

Post: High Leverage Fix & Flip Loans - 90% LTC

Post: Hard Money or Private Lenders in Philly