To say the least these are "inconvenient times" but as measured by time, something good comes all bad.
As "conventional lending" has all but dried up at 96% of all conventional lenders, where does a Developer (risk taker) get the resources to develop and build? Just go to a BoA, JP Morgan, Citi and down the line, the answer is the same: "come up with 35% to 40% and we will consider your deal...... a polite way to say NO!!
I have been able to uncover Hedge Funds, HNWI funds, and asset funds willing to lend up to 90%, all based upon the deal and the clients abilities to have delivered previously on his portfolio.
FINALLY, something of value in these most "inconvenient of times" that makes sense. It's just that not everybody can find it. It's not front page news but it IS really there.
I have successfully "facilitated" 2 closings in the last 60 days for clients at "sweet spot" amounts between 25 and 50 million dollars. It is as if Spring came early, it brings new energy, a new commitment and belief that we are going to come out of the funk just fine.
Good does emanate from bad, I have personally witnessed it happen.
Spread the word.
:woohoo:
14 years 8 months ago - 14 years 7 months ago#3085by Terry Smith
