Need to Get Cash From Your Rental Portfolio?
I met these guys in Kansas City, and I am really excited. What they do is allow landlords with over 500k worth of property to get a big lump of cash out. This is not a bank, they evaluate and lend on the property. Your credit doesn’t matter. Where I get really excited is that I can now use this to buy large chunks of property. This ties in to a great creative finance strategy that I use with my students. I suspect that you will like B2R. B2R Finance is a commercial lender who is picking up where Fannie Mae has left off for real estate investors. We are issuing ?blanket loans? on residential income producing properties creating an avenue for investors to unlock equity, get out from under hard money that may be coming to term and ultimately expand on existing portfolios. Basic Guidelines: We lend on 5 or more residential rental property/units at a time. These rental properties consist of single family homes, condos, townhouses, 2-4 units multifamily, apartment buildings and mixed use with up to 40% commercial or any combination of the above Our loan sizes start at $500,000 and range up to $50 million We offer a 5 and 10 year loan term with 30 year amortization LTV’s up to 75% as long as the loan size meets a minimum DSCR of 1.20x and Debt Yield of 8% The typical turn time from a signed Term Sheet with expense deposit to closing is 45 days We are also happy to work with you as a broker or referral source if you have no immediate need of your own To get started email Josh at PittsburghREIA@aol.com and give a brief description of the group of properties that you want to cash out. Also let me know if you are trying to sell them or raise cash to buy other properties with them.
(May 2014 Newsletter)