All Forum Posts by: Marty Johnston

I agree with the others above, I'm a lending broker and typically, anything over a 740 will usually be looking at pretty good permanent financing. If your credit was indeed the only reason for denial, I would continue your search. Unfortunately, we see alot of people getting denied their sought after loan for reasons not disclosed to the borrower... it's unfortunate, and a bit confusing to alot of borrowers at the end of the day.

 There r many lender programs out there that work with a Credit score under 700, and even more so above it. Feel free to PM to discuss more. Can you tell us more about your situation?

Do any of the following scenarios describe your lending situation?

- Self employed but do not show enough income to qualify with a traditional bank?
- A real estate investor who has too many mortgages to qualify with a traditional bank?
- Credit is just a bit too low to qualify with a traditional bank?
- Do not want to pay the hard money rates and fees?
- Need a quick close as opposed to the long drawn out process that most banks put borrowers through?

NO INCOME VERIFICATION LOANS!

• Investment SFR's, Condo's & 2-4 units.
• Multi-Family, Mixed Use, Office, Retail, Warehouse, Self Storage, Auto Service
• Refinance, Refi cash out & Purchase
• Up to 75% LTV depending on property type & location
• 630 Minimum Credit Score Required
• W-2 or self employed
• Standard 30 Year Term (3, 5, 7 and 8 year arm options)
• $75k-$5M loan amount
• Between traditional banks and hard money rates

For more information, contact Marty Johnston at (877)-957-4357 Ext: 713 or at [email protected] 

@Christopher Brown, I am a broker for 11 Capital Finance LLC, we are a national Commercial Real Estate and Business Loan brokerage based out of Blue Bell, PA. Others may be more familiar with our sister company, Drexel Brothers. Both companies were founded by Chris Perez. Feel free to PM me for more inquiry into our company or if you're interested in finding additional financing options!

Marty

 Juan, send me a PM. I am a commercial lender. I think I can help your client.

Marty

Most commercial lenders want the borrower to close in some type of corporate entity. What is the property type that you're looking to purchase? what state is the property I ? Different states have different laws on how commercial property can be bought so it's not 100% our lenders say. We work with some hard money lenders that don't require an LLC but it depends on the property they are buying and the state they are buying it in. Regardless, why would you not want to purchase this under their personal name? You really are protecting yourself from potential mishaps, your save yourself allot of headache also by simply forming an LLC and opening yourself up to more potential lenders. you open yourself to potentially be attacked as personal property considering it is in their name personally.

my .02!

cheers

 haha, you aren't alone my man! Do you attend the Brew City Meetups? Maybe we can meet up at the next one I January. Best of luck until then!

 Darius, it's my pleasure. I look forward to hearing from you.

Darius, welcome to the forums and REI. I second Christal and Oscar, check out your local REIAs, connect with other investors A's get referrals. where there is a deal, there is always money.. Im just north of you up in Milwaukee, Id be happy to connect some time to discuss your options and what your game plan is. Im a commercial broker with connections several HMLs and private investors. Feel free to PM me any time with your questions or inquiries!

Unfortunately I think Travis hit it right in the head... the LTV is too high for most HML's. That isn't to say there isn't a lender out there who could match your terms, just that it might be more difficult. Are you looking for 100% financing on this deal? Are you liquid at all for closing costs and fees?

 Danny, we do have loan program's in Houston and all over Texas. Im away right from my desk right now but Ill PM you later this afternoon with some more information and my contact info. Enjoy the slopes my friend!