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All Forum Posts by: Simmy Ahluwalia

Simmy Ahluwalia has started 107 posts and replied 1338 times.

Post: Best way to cash out equity on rentals with conventional mortgages?

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

One option is to take a 2nd on both properties.  Not cheap, but rates range 11-13%, amortized over 30 years, but also come with no pre-pay penalty.  You get to keep your low 1st position note rates.

Post: Seeking financing for non backed fannie mae investment

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

Not a problem with us.  We can finance Condotels (non Agency loans).  Email is below, you can send us all of the information for a quote.

Post: Real estate Attorney in Atlanta,GA area

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

Snehal, email me, and I'll provide you with some recommendations.

Post: Hard Money Lenders

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

What city/town are you investing in?

Post: Looking for agent to help expand LTR portfolio into Atlanta

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

Hey John, let's chat.  We're a Commercial Mortgage Brokerage based in the ATL, and we also source properties for our investor base.  Reach out and let's see how we can help you out.

Post: Church Needs Funding

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

Churches are tough, but doable.  Depends upon a number of factors, inclusive of plate income, expenses, Pastor credit, liquidity, etc.....happy to discuss.

Post: I'm trying to buy an apartment complex without having millions

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

You can get creative with Seller financing.  For example, you have a $1M purchase price of a MF asset; 1st position lien at 65%; seller 2nd at 20%; and you bring the 15% cash down plus fees and closing costs.

Post: Experienced Investor Seeking Asset-Based Lending & Hard Money Loans for Next Project

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

Hi Mauricio, happy to chat about your HML needs. Are CA, NV and AZ your primary investment markets? Feel free to reach out: [email protected]

Post: 90% Purchase and 100% of the Rehab (Myth??) Local Lender or National Lender

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

Actually, with experience, up to 100% is available (70% of ARV). This is a FULL DOC file, with personal guarantees by yourself (and your spouse). Rate and fees are a little bit higher (obviously) since the lender is taking all of the risk.

Post: Is it possible to make referral commission recommending a lender?

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

We offer referrals to realtors for INVESTMENT financing only, residential or commercial; HOWEVER, you can't double-dip.  

If you have agency representation on the deal, your client is going to need financing regardless to Close.  If it's a simple referral for a client needing financing and you have NO agency/fiduciary relationship in the deal, then yes, we can work with that.