Private Lending in Michigan

We are locals and specialize in providing private capital in Michigan suburbs. These are BUSINESS PURPOSE real estate loans. We do NOT offer consumer-purpose loans secured by primary residence or second home. We offer creative loan structures if needed for business purpose loans.

When is the best time to use Private money?
In a traditional situation, borrower would for a bank or credit union for loan. However, for short term needs Private money or hard Money loan provides access to capital quickly. The borrower even though would benefit from these loans, it comes with higher costs, for couple of reasons:

1. The lender who is providing the loan is looking for a better return as these are non - conventional
 type of investments.

2. The risk of the project determines the rate of return too. This includes loan-to-value (LTV) on a
    residential rehab loan; the location; amount of renovation needed for the property to make
    it marketable etc.

In general terms are negotiable as everyone has to benefit from a project.

Overview of Loans
 $10,000 to $400,000 Business Purpose Real Estate Loans
 Non Owner Occupied Loans (We do not make consumer loans)
 Private Money / Hard Money
 Affordable Loan structuring
 Acquire, Improve properties
 Most funding turnaround time 15 – 30 days.
 Funding generally for maximum of 12 months

General Loan Questions
 Every hard money loan request is different.
 Mostly we approve private capital loans when the borrower has “skin in the game”. Which means
    the borrower must put money into every project we consider funding.
 We prefer projects that are under 65% of the final market value. Other exceptions would be based on
    the turnaround time and location of the project.
 The LTV can also go much higher if you have other properties to cross collateralize or other assets the
    lender may see as desirable.

Borrower Considerations
 Our loan applications do not have a minimum credit score. However, various factors including credit
    score, overall financial strength, and ability to pay back the loan will factor into the maximum LTV,
    down payment, points, and interest rate.
 Additional personal Guarantor may be required.
 Previous experience of the borrower in real estate are preferred. We like to review some of the previous
    projects completed.
 Borrower to use experienced and qualified contractors.

Final Thoughts
 Deal must be safe and profitable for borrower.
 Good communication with project updates from borrower to lender is a key aspect of successful project     completion.
 Overall; ethics, honesty and integrity with low debt of borrower will provide success in good, bad or
    neutral economic situations.

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