Location:- Birmingham AL
Loan Amount:- $3,150,000
Challenge
Our client was looking to purchase a multi-family property but was having problems finding financing, due to needing a larger down payment than was required
So, Why Private Capital Investors?
Because Private Capital Investors being a company that specializes in niche lending programs, we were able to structure the deal in a way that the seller stayed in the deal as a JV partner, and allowing the borrower to use other properties as collateral, therefore allowed us to structure this as a refinance, and still allowing the seller to stay in the deal, and still cash out with $2,940,000 in his pocket at closing.
How do we tackle the Challenge?
We all know that all lenders are not the same, and many lenders in the marketplace allow a niche type of financing.
Because of Private Capital Investors’ vast amount of private investors that are not easily found on the internet, we were able to close this deal and structure it in a way that no other lender in the marketplace would allow.
Outcome
We were successful in securing the financing for our client within 21 days from start to finish.
Given below are the highlights of our success
- We secured the loan within 21 days
- We were able to secure financing, and structure the deal as a refinance instead of a purchase, and allow a win-win situation or BOTH parties involved.
- Able to close and not have to have the buyer come to the table with one brown penny, not even closing cost, and allow the seller to still walk away with almost 3 million in their pockets.
Testimonials
I have been working with Private Capital Investors for the last year, and even directly with the CEO, Keith Thomas.
When we found Private Capital Investors about 1 year ago, we were in a very sticky situation needing to refinance our portfolio of multi-family properties that we recently bought, and we were trying to get the cashback that we invested so that we could use that money to invest in other properties.
There we NO LENDERS allowing us to use the current appraised value, all of the other lenders told us that we had to wait 2 years before we could benefit from the full appraised value.
After Keith Thomas with Private Capital Investors was able to not only get ALL of our cashback, but he was also able to have us walk away with over half-million dollars more than what we had into the deal. This convinced us that we would be using Private Capital Investors for ALL of our transactions moving forward.
If you have been giving the run around by other lenders, had your upfront money stolen, had a broker/lender change the terms once they received your deposit, and had you locked in, I would suggest that you use Private Capital Investors for all of your commercial financing needs.
This company goes way above your expectations, and all of our calls were answered or returned within 1 hour, and this did not matter what time of day, or the day of the week it was.
Thanks so much, Private Capital Investors, for another successful transaction, there will be many more in the future.
Anthony O.