Hard money commercial loan: downtown Los Angeles multi-family
Commercial mortgage broker Financial Compound arranged a $500,000 acquisition loan for the purchase of a 20 unit apartment building south of downtown Los Angeles. The loan was arranged from start to finish in 5 business days. This 1920’s property is one of only three apartment buildings within an indusrtial and commercial area, making sales and rental comparables hard to obtain. Borrower does not own any commercial real estate and tax returns do not show much income. These transaction characteristics make it difficult for an institutional lender to perform this financing and fits well into the parameters of numerous hard money commercial loan lenders which commercial mortgage broker Financial Compound is active with.
Commercial mortgage broker Financial Compound is adept at quickly analyzing and placing transaction that need a fast closing. This mortgage broker works with more than 200 active hard money lenders and is able to place and close transactions within a week. Hard money commercial loan lending is a little different than regular lenders. Financial Compound cut its teeth with hard money lenders placing a few difficult transactions for its best clients, and over the past 15 years has become adept in this arena. Since the recession in 2007 numerous so called hard money lenders have emerged into the marketplace. Unfortunately namy of them are scams, requiring the borrower to deliver large up-front loan application deposits and then there is no loan, no lender, and then a disconnected phone number. Commercial mortgage broker Financial Compound is able to help borrowers to carefully screen potential hard money lenders which are not familiar.