Loan scenario: GA, $2.6ML, 700's, 70% LTV, Purchase, full, OO
Property type: COM
Loan purpose: Purchase
This is a plea for a REAL lender or broker with a REAL lender. We are seeking financing for the purchase of a bowling center in Union City, Georgia (Metro Atlanta). We have been accosted by brokers who tried to rob us under the guise of "due diligence" fees, or hiding ill-intent behind 3rd party fees, committment letter fees, etc. We are happy to pay a reasonable broker fee and/or lender fee AT CLOSING. We have a MAI appraisal for $2.6ML which is about 30 days old, done by a reputable national appraisal service, and ordered by a lender. So if you are out there... Please get in touch!
by Looking For the Real Deal December 14, 2012 7:27 PM
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by TIMSUB December 14, 2012 11:07 PM
What is the purchase price and how much can you put down? No doubt you know that lenders aren't going to base the LTV off the appraised value. Is this going to be owner occupied?
by TheMaineEvent December 14, 2012 11:26 PM
You mention that a lender recently ordered the appraisal. What happened to that lender? If you know what information is critical to get real interest from a real lender, then you should really provide that. If you are unclear, then contact somebody like TheMaineEvent and talk your deal over with him. It won't cost you anything to find out if the deal is real or not. By the way, you asked people to get in touch with you.....but provided no contact information. Bowling centers are difficult, but not impossible to get done. You just need to get it structured correctly and in front of the right lender.
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by zenith December 15, 2012 5:11 AM
I THANK everyone for your replies...Glory be! Hope is still alive. I will take your advice, and I will be contacting you. Again, I am sooo grateful for the response.
by Looking For the Real Deal December 15, 2012 8:10 AM
I'd get with the seller and broker a rent to own deal. It will be much easier to finance if your borrower has a history of running this business turning a reasonable profit.
by Power Pig December 15, 2012 9:13 AM
I hope you realize that everyone who posted an email in this post is a fake lender. They're all over this board searching for deals such as yours.
You'd be best served by answering the questions that were asked so those of us who are real can determine if we can help you or not.
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by richardloan December 15, 2012 12:59 PM
I would like to look at the deal further to see what can be done if interested contact me at the below.
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