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All Forum Posts by: Simmy Ahluwalia

Simmy Ahluwalia has started 107 posts and replied 1338 times.

Post: How to Find Funding Partners for Building a Home in a High-End Community?

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,582
  • Votes 188

Kreg, I'm also based in the ATL.  Am I safe to assume that you've never built a SPEC home before?  We finance a lot of SPEC/Subdivision new builds, but of course, experience in new build construction is paramount.  I would try and either source a partnership with an Investor who has built successfully before, OR, source a licensed GC builder who you can partner with similarly.  When you have one member of the team/Entity with several new builds under their belt, it's much easier to secure debt financing.

Post: Lender Needed: Permitted & Partially Built 30-Unit Residential Project in Philadelphi

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,582
  • Votes 188

This deal does not pencil at all, and you will lose your shirt with these numbers.  You need to be picking this up at $10M or less.

Post: Direct Lender in Arizona

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,582
  • Votes 188

@Eugene Neal - Hi.  I'm a broker based in Atlanta, but originate nationwide.  One of my specialties is SF/B2R new construction/subdivision financing.  I have 2 going on right now in the GA market.  That being said, the best case scenario is the client already owns the dirt and it is fully entitled/shovel ready.  

Post: Need Lender Contacts for DSCR or Conventional Mortgage

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,582
  • Votes 188

@Harish M. - please resend, have not received.  [email protected]

Post: Need Lender Contacts for DSCR or Conventional Mortgage

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,582
  • Votes 188

@Harish M. - reach out and provide the property details and we can price it out for you.

Post: Looking for HML for great property but not great credit score.

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,582
  • Votes 188

@Michaela Hayes - we do have a No FICO program, but it's state specific.  Where is the location?

Post: Looking for a Good DSCR Lendor to refinance with Min Down Payment

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,582
  • Votes 188

@Ravi Kumar - bhai, reach out and let's chat about your dscr Refi.

Post: Fix and Flip - Monthly Payments Rolled into the Loan

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,582
  • Votes 188

@James Thomas Richard - we do have fnf programs where we can defer payments to the back of the loan, but we'd need to understand your flip model in more detail.  Reach out and let's chat.

Post: Heloc or Cash out needed in GA

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,582
  • Votes 188

@Xiang J. - we are ATL based and can provide you with a quote on the cash-out.  Reach out.

Post: Seeking lender for short term stabilised bridge min. 80% LTV

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,582
  • Votes 188

Depending upon your numbers, yes.