Looking for advice on No doc - low doc commercial funding for small projects??

Posted on: Tue, 09/15/2015 - 19:41

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Looking for advice on No doc - low doc commercial funding for small projects??

I am looking for input on a Commercial building purchase. I have a small $60,000 COMMERCIAL building under contract in Alabama. I'm finding it difficult to find a lender to fund this due to the low purchase price....and I suppose because I only need a short term loan ( but I am willing to go longer term )

ADVICE ANYONE???
Thank you.

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by shammie
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Posted on: Tue, 09/15/2015 - 20:17 #1

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How short is short term and

How short is short term and what's the LTV. Some hard money lenders have programs that might work for you.

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Posted on: Wed, 09/16/2015 - 14:12 #2

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looking for advice for no-doc-low-doc COMMERCIAL funding??

TRSD wrote:

How short is short term and what's the LTV. Some hard money lenders have programs that might work for you.

I appreciate your response. If you know of a legitimate hard money lender for this type of deal, with no - upfront fees, please send them my way.

"short" meaning 6 months or less. LTV 80/20 to 75/25 if value is based off the PP. Did not get a full appraisal yet but have appraiser comps which are all higher than PP.

Thank you!

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