All Forum Posts by: Simmy Ahluwalia

Shivani, these are hard money, short term bridge loans allowing you to improve the property for either sale or rental.  Once the property is "sell or rent" ready, then you can refinance into long term debt if you plan to hold it.

What Erik said, also, you need to be aware of seasoning requirements (with the dscr lender) prior to a cash-out/refi.

@Tony Scal - would you have an interest in a HELOAN?  There is no pre-pay penalty; however, a monthly payment would be due.  

Never, Ever, Ever pay any upfront fees, unless it is a 3rd party fee for an Appraisal.  

Alan, happy to look at your loan scenario.  We can work with Rural properties as well.

@Kent Petty - what city/state are you building in?

@Jeremy Georghiou - what is the location for property #1?

@Deborah Pyburn - we're based in Dunwoody.  Sounds like SBA may be an option here?  Feel free to reach out and discuss.

@Nino Alfano - well, I never had an address on your property, so I couldn't fully evaluate; however, I've already closed close to $1.5M this year in 100% purchase/reno loans, again per specific lending guidelines.

@Justin Capps - we can certainly look at it. I just need the address and rental income. We have financed STR's in rural locations, so it can be done.