Office Building Private Money Loan Financing
Most every blog post on this site has been written about loans that we successfully closed. Not this one. Today we...
Over the past few years, we’ve received dozens of hard money and private money hotel financing requests from existing owners doing a major overhaul as well as buyers seeking acquisition funds to stabilize a property before taking out a long-term bank loan. This blog post outlines a recent competitively priced private money hotel acquisition loan for an experienced operator that we believe would benefit many other hotel owners.
As mentioned above, the buyer was an experienced hotel operator, owning several brands in Northern and Central California. Upon acquisition of the hotel, the new owner would convert the property into a different brand, which was expected to cost $500,000+ to complete the overhaul. After completing the transition from one brand to a higher valued brand, the owner believed that the value of the property would increase, which would then be time to take out a long-term financing.
First Capital Trust Deeds provided the buyer with a very attractively priced private money hotel loan with limited documentation requirements.
The terms and guidelines for hard money and private money hotel financing for experienced owners to come in at the following price range:
Most every blog post on this site has been written about loans that we successfully closed. Not this one. Today we...
As acquisition prices for fixer upper properties continue to rise due to increased competition in local markets,...