I have a client looking for some financing where could I send him?
I have an investment property I own free and clear in the name of my LLC. It is involved in a long term lease. In this financial climate I have not been able to find a way to get money out of this investment to pursue other available properties or to do just improvements on what I currently own.
Do you have any options available?
There are a few places you can look for money. I would consider these:
If the borrower’s credit is strong, you can go to the bank and hypothicate the long term lease payments to the bank in exchange for a personal loan.
The LLC can obtain ‘debt partners’ by creating a first mortgage against the property and using shares of the LLC to secure the investors interest. That way, you can involve some smaller investors too, such as a $5k investor could hold 5000 shares of 50000 total shares for his security in the $50k 1st mortgage.
There are trillions of dollars inside IRA plans. Do the above with IRA investors with a good interest rate to attract the private investors. If their IRA trust document does not allow for such an investment, you can suggest an IRA rollover into a trust document which permits such an investment.
Although the lending institutions are unreasonable right now, even though their rear ends were bailed out by the feds, you are nearly certain to find a lender who will do a first mortgage for this proposed less than 45% LTV.
you can suggest him a good loan company .i have gone though this company and you can also suggest that to your client.The company is American wide loans.To know more please go through the link: