All Forum Posts by: Dave Rossman

Jim,

The "Rescission Period" is not for the lender, it is for you the borrower (only). Once you execute the lender's loan documents the lender is obligated to fund the loan, any decent real estate attorney should be able to smooth this out.

Best of luck,
Dave

Hi Brian,

I should be able to help you out if you are still seeking financing, feel free to call or email.

Best of luck, Dave

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Dan,

I have done many FN deals, I arrange commercial & residential debt for investment properties, let me know if I may help.

Best of Luck,

Dave

Mariah,

I arrange commercial & residential debt for investment properties. Taking on six at one time might be a little too much without a financing contingency. I would suggest offering & closing on a maximum of two at time or one by one. This makes keeps the lending process straight forward & more streamline. Not to mention it will keep your exposure limited on your earnest money deposit(s).

I normally would would agree with moving forward with as many of the assets as possible given the discount offered, but without a financing contingency that is risky. In this market there are a lot of opportunities for buyers.

Let me know if I can help, best of luck.
Dave

Hi Brandon,

I arrange hard money for residential & commercial investment properties. The leverage maximum is 65% of the "as is" value in your case. That would provide your father a good portion of his funds as a pay out/pay down, not sure if that helps any questions feel free to reach out email or call.

Best of Luck,

Dave

Kim,

I have been in the lending industry for many years, from a lending stand point AG is considered be a higher risk & underwriting tends to be much more conservative on AG zoning versus commercial or residential zoning i.e. lenders in this market may lend on land up to a 50% leverage, however, AG zoning the leverage will be held to 25%-30%. The underwriting thought is that there is a smaller market of buyers for AG zoned land & the usage is somewhat restricted to what these potential buyers may do with that land. Bottom line in the event of a foreclosure/fire sale of the land the lender most likely would have to make some large concessions to move the asset off their books. I hope this helps going into & out of this asset.

Best of Luck,

Dave

Tod, I arrange commercial land loans are you still in the market for financing, feel free to email or call me if interested.

Dave

HAS ANYONE DONE & CLOSED ANY COMMERCIAL LOANS WITH LIBERTY LENDING GROUP OUT OF PORT JEFFERSON, NY?

Has anyone dealt with or closed any commercial bridge loans with Sterling Bridge Group in Great Neck, NY? Any comments why they are good or not good?