All Forum Posts by: Dan Gamache

@Keith Jefferson Does the property need rehab? Also, what is your plan, flip property or hold long term?

Option 2 you can get 30 year fixed with private/commercial lender. You are correct that rates will be higher than conventional financing. These loans do not appear on your personal credit.

Did you know Lima One Capital offers some of the best Ground-up Construction Financing available? We now offer 90%LTV on ground-up construction up to $2.5 million (over 2.5 mill requires higher downpayment). If you already own the land we can count that towards your downpayment. Contact me today to see how I can help you build your new construction project & real estate portfolio at (617) 680-1635 or [email protected]

Lima One Capital has had BIG pricing reductions on our Multi Family loan programs. We lend on apartments and Multi (5+ units) either in need of value add or stabilized. If banks won't lend on distressed property or you need a quick closing, call me at (617) 680-1635. Here are some highlights, and check out the recently funded deal below:

*loan amounts $250K-$10 mill *80% Loan to Cost (purchase + rehab budget) *Closing costs can be rolled into loan *we underwrite to future value *no prepayment or exit fees *recourse and non-recourse offered *average closing 3-4 weeks. [email protected]

@Jeffery Morgan I have some great new construction products that only requires 10% downpayment (purchase + construction) if you already own the land can count that towards downpayment. Let me know if you'd like to discuss.

@NIcholas Hamel You can start out as a fix n flip loan which usually requires 10% downpayment, and then when rehab complete you can refinance into long term rental loan up to 75-80% of new appraised value. Most banks/lenders will require an ownership seasoning period from 90 day to 6 months or longer. You will be paying high rate during the fix n flip loan and you have 2 sets of closing costs for the 2 loans. 

@Dominique Mitchell You can absolutely write in inspection contingency in your offer. "as-is" generally means they don't want you to come back and ask for repairs or price reductions after offer accepted.

Nationwide Lender! Feel free to contact me with any Investment Property Financing needs. We have programs for Fix n Flip, Buy & Hold (30 year Fixed Rates!), as well as Multi Family (5-250 units). We also do New Construction, Bridge Loans, and Mixed-Use projects.

****We now have Brrrr Financing that will start as FixnFlip and then convert to 30 year Rental Loan****

@Charles Toth I've done this type of deal before, as long as its an investment property and not owner occupied. Feel free to reach out.

@Brandon S. not sure about VA loans but there are lenders who will loan on new construction with 10% downpayment of total costs (purchase price + construction).