Condo Project

Financing, Hard Money Lenders, Private Money
1

I have a client who has started a condo project with his own money and was supposed to be funded $300M but it never happened. A broker told him for three months that the deal was going to get funded. Now he needs $40M to pay for a first and second mortgage, a contractor lein, and feb/march payroll. He also needs the financing for the rest of the loan amount. How do I find an investor that will do this ?

Thanks,

Dan

2

Your going to have to fire up the phones…Drop me a line and I’ll shoot you out an e-mail tommarow with a couple pages of contact numbers.

3

Your are a commercial broker??
And can’t find funding??
Ohhh. Maybe my list will not work. :-[

4

Pat,

Thanks for the response. He doesnt have enough time to wait for a commercial lender to approve. They already have the cement poured. He needs an investor. I feel bad for the guy, he was lead on for three months, and in the mean time, has been funding the project himself, now his own money is running out.

5

Thats tough…to get that kind of cash in the short term you’ve got to go direct…institutional investors. Tough one.

6

I know, How do I even begin to find them ?

Thanks,

Dan

7

i would at least staRT the loan process and if he finds someone before the loan is funded he can always back out. Cause its going to be really hard to find a investor for that amount of money.

Brad

8

Brad,

I know, already working on the process. Its hard to find someone who has pockets that are that deep.

Thanks,

Dan

9

i emailed you earlier and game you a guys name and number who would be albe to help you get approved if you need that. \

Best of Luck
Brad

10

Brad,

I didnt receive your email.

Thanks,

Dan

11

ill resend it tom.

good luck
brad