All Forum Posts by: Michael Prout

I was a former residential mortgage broker for over 10 years. I have changed course and have partnered with a nationwide commercial mortgage company that works with hundreds of commercial real estate and business loan lenders in the United States. Brokerage is our key to success. We take the time to get the proper information about our clients' loan requests so we can properly place their file. For commercial real estate loans we need loan requests over $100,000. What we do for CRE loans is below.

On the Permanent Side we do:

1. Bank Loans (Conventional and SBA loans),
2. Bank Alternate Stated loans (these lenders are not banks and borrowers do not need to submit tax returns to qualify for these types of loans). We offer loans for 1-4 unit investment properties, mix use and commercial apt buildings, office, retail, industrial, even AirBNB

On the Temporary Side we do:
3. Renovation loans (for 1-4 unit investment properties and some standard commercial properties),
4. Bridge Loans (for 1-4 unit investment properties and commercial properties) and
5. Ground Up Construction loans (for 1-4 unit investment properties).


The principals of 11 Capital Finance have been in the commercial lending business for over 20 years and know how to properly advise a borrower on any type of commercial transaction. We have worked with thousands of borrowers, and continue to, due to our superior customer service and knowledge of this business. We stay with our borrowers through out every step of the commercial lending process to ensure the loan closes properly and in a timely fashion. 11 Capital Finance personally handles all title insurance issues, property insurance issues and does all of the coordinating with every party involved in the transaction for our clients. I have attached our product sheet, which is a summary of the lending programs we offer for commercial real estate loans and for business loans. New lenders and programs are added weekly.

I am here to help get your deal closed. Please feel free to contact me with any questions.

Serious inquires only!!

Michael Prout, MBA

website: https://www.my11cf.com/prout

@David Beckley: Are you still working with 11 Capital Finance? I am considering joining them. I want to get an insiders perspective before I jump in. Any info will be greatly appreciated.

Hey Matt. Inbox me and I will give you his contact info.

Michael Prout

Are there any REI meetings coming up in the NE PA area. I work overseas, but am in the states until mid August and would like to attend a meeting. I am looking to invest in the Wilke Barre/Scranton area.

Anybody in here have experience dealing with First Cornerstone group LLC. They seem to have some decent deals but not sure about their properties they "claim" to be turnkey. Please advise. Michael Prout

BPer's:

I have $30K to start down this road of R/E investing. I was looking at sub $30K market in PA (Wilkes Barre/Scranton/East Stroudsburg areas). Should I:

a) Buy a single family for let's say $10K, fix up for $20K and sell it for around $60K or

b) Buy a 3 family house for as much as $60K. Put down $30K and have seller hold a 2nd to be paid off in 3 yrs. Rents probably $650/month X 3 or $1950/month. Property Taxes: $1,650/yr, Ins: $1200/yr, PM: 10% or $195/month, Vac: 11% or $214.50/month

Thoughts??

@Joy W.

Have you considered option D? It is an unsecured line of credit. My partner does up to $150K in financing @ 0%. No DTI, NO VOE, No VOR. It is short term financing for 1-2 yrs. Might be an option for you. If you want to know more, let me know.

Michael Prout

Proutax Financial Services

@Teresa Miller:

You might want to consider short term unsecured credit as a financing alternative. I have a partner that does up to $150K unsecured financing @0%. Only need a 680 fico. If interested, I can tell you more about it and put you in touch with him.

Michael Prout

Terra:

Have you considered short term financing unsecured financing to acquire the house and get the conventional financing later? We can do up to $150K @ 0%. No VOE,VOR, Assets. Only need a 680 fico score. Let me know.

Michael Prout

Proutax Financial Services

Nathan Richmond:

You may what to look at short term financing. I just connected with one of my old account executives from a previous lender that I use to do business with and he has a new program whereby you can get up to $150K unsecured short term financing @ 0%. No VOR, VOE, DTI, Assets. Only need a 680 mid Fico.

Hit me up if you think this might work and want to know more about it.