All Forum Posts by: Jeremy Wells

I have a property in southern California that already has a building built and leased with a 100k private hard money loan remaining.

The land it sits on can accommodate an additional building and I plan to erect a 6k SF metal building for commercial leasing. 

I'd like to take advantage of the low-interest environment we find ourselves in and borrow to finance this although I do have several investors if needed.

For reasons I don't wish to expand on I do not want to work with traditional lenders as I'm not willing to go through the time and expense of a Phase 1 and or 2. 

Any recommendations for ways to go about this? Sources that might be good to look into? I'm willing to put 20-50k of my own capital towards this. 

I plan to use $100k of this loan to consolidate the existing note on the original building as they are in 1st position currently. The subject property value is $1.5M prior to the new building.

I've been working with my insurance brokers for about a week on this and they've come back saying they "think" I might be covered under my BI policy if a civic authority forces shut down. That said, there should also be a similar clause for my tenants and I will be encouraging them to attempt to file their own claims and SBA loans first. My own coverage should be a last resort. If in doubt, file a claim! 

Los Angeles mayor placed a moratorium on landlord evictions for the next month. We could see that more across the country. 

Hi Adam & Jose,

I'm an investor in the area and would love to meet up some time. In the mean time if you have anything you're wholesaling right now feel free to send it my way. 

Best,

Jeremy

Does anyone know of a fast source I can go to in hopes to refinance my investment income commercial building? I had an SBA loan from when my business used to be in there but I was notified today that I need to refinance it within the next 6 weeks. Does anyone have any suggestions about where to go? Thanks!

To be clear I'm not requesting a loan from anyone here just trying to get advice.