All Forum Posts by: Magnus Wikström

Hi BP community,

We're foreigners (Swedish), building SFR in SWFL in the affordable segment. We're now seeking a short term stabilised bridge loan for 1, potentially 2 properties valued at $310.000 each. We're strong in liquidity and have a few more projects where we could possibly do the same thing in a few months. Please note min. 80% LTV, no ridiculously high origination and No brokers please.

Thanks

 Just an update @Jesse Holsapple we're not looking for most lenders - we're looking for THE lender

Yeah, that's the conventional way but I'm certainly seeking the unconventional.

Thank you

Hi @Lior Golan,

Pity to see you didn't get any reply on your post, but it was probably because of the length of it. We're also foreign nationals focussing on Ground up in the US. It's a bit of a step going into ground up from flips. Myself, I had worked with an experienced mid-sized UK commercial developer and seen how they'd done. But you probably feel if you're ready for that step or not.

I would suggest you start communicating with the builder who'll give you the costs etc. and the best thing is if he has a house model he's built already and can tell you straight up all the costs. We build on septic and well, and the septic is expensive but as long as everything is pointed out from the beginning, that's just one of the items on list.

If you've got interesting projects, we could be open for partnering, if that's an option for you. Hope you succeed in what you're doing!

@Brandon Croucier There is always financing, the question is on what terms.

@Mike Klarman The topic is about BUSINESS LENDING and not hard money real estate lending. And no, I'm not new to real estate.

Thank you

It doesn't sound like a great deal generally, for the money you're tying up... FHA should change that so I would definitely explore that and redo the nrs. But your ROE on the nrs you're mentioning is pretty low...

Hi @Rick Soto,

If you're still in the market for building for investors with similar numbers, I'd be interesting in connecting.

Regarding your numbers, I think it's low leveraged, typical bank deal. If you call a couple of HM Lenders from lendersa for instance, you'll spare your money down by several hundred %, although you may need to do draws based on reimbursement instead of advanced payments, which is a huge minus.

@Frank Kerestesy,

Are you a broker?

I'm talking about something like this

https://www.businessfundingdirectory.com/

But better, less brokers and better filtered for only business lenders and not to individuals