Comments for The Private Money Broker

Comment on Fairfield broker promotion – free iPad by Stephania Pokrzywa

Stephania Pokrzywa — Thu, 28 Jul 2011 09:29:05 +0000

Heard that Auburn property prices are unlikely to fall lower. What do you think about properties . I dont believe it will be going down . Interest rates are also tipped to go down a bit . What you reccon.

Comment on How to broker private money loans when real estate markets are uncertain by admin

admin — Thu, 10 Mar 2011 00:44:22 +0000

I’m sorry Barbara, but we don’t lend in PA at this time.

All the best to you,
Clay

Comment on How to broker private money loans when real estate markets are uncertain by barbara williams

barbara williams — Tue, 08 Mar 2011 18:33:34 +0000

Let me know when you are lending in PA

Comment on How to communicate your deals by admin

admin — Wed, 02 Mar 2011 00:48:33 +0000

Hi Curtis,

We may be interested in pursuing this, but I need a bit more information to be able to provide you feedback as to whether or not we can do it and what our rate and fees would be. My recommendation is that you go to the following link on our website and it will step you through the questions that need to be answered regarding your loan proposal.

http://www.privatemoneysource.com/loanproposal.php

Thanks,
Clay

Comment on How to communicate your deals by Curtis Graham

Curtis Graham — Tue, 01 Mar 2011 14:22:19 +0000

I have a client in Florida with a 14 bed ALF needing $250,000 to payoff $100k for existing mortgage and taxes and to purchase equipment and fixtures.
I also have several commercial loans in Missouri and a couple in New York.

Please call to go through scenarios.
Curtis Graham
314-965-7875

Comment on Grumblings of a slum lord in the post-bust environment by Brian 'Maverick' Blum

Brian 'Maverick' Blum — Mon, 27 Sep 2010 02:55:30 +0000

Thanks, John! I’m glad you liked the article. I wasn’t sure how well my rant would be received…

Comment on Grumblings of a slum lord in the post-bust environment by John Kucey

John Kucey — Fri, 24 Sep 2010 19:28:07 +0000

The article by Brian is very good. I agree with him and I am a retired banker.

Its too bad he doesnt’ lend to Churches.
I’m not sure his logic would apply to Churches which is the business we are engaged in.

Comment on The private money broker blog by admin

admin — Fri, 17 Sep 2010 18:06:24 +0000

That is certainly a reasonable statement. I didn’t catch your name, but I looked at your web site. Do you want to tell us a little bit more about what you do?

Clay

Comment on The private money broker blog by private money lender

private money lender — Wed, 15 Sep 2010 21:10:48 +0000

Choosing whether or not to use a hard money broker is the same as deciding to use a regular mortgage broker or approaching individual lenders yourself. There are advantages as well as disadvantages to using a hard money broker and deciding which avenue to take is a decision that you should make carefully.

Comment on When life gives you lemons … by Don Gurney

Don Gurney — Sat, 11 Sep 2010 14:58:07 +0000

Hi Clay, Thanks for the insightful article. This blog is a great learning tool.

Respectfully,

Don

Don Gurney
1st Coastal Commercial Capital

Comment on The big stretch by admin

admin — Sun, 29 Aug 2010 20:45:55 +0000

Hi John,

Well the LTV looks reasonable on the face of it. beyond that, I don’t have enough information to be able to tell you whether we could do this or not, or to quote thsi loan. Please go to the following link and fill in the short form there: http://www.privatemoneysource.com/loanproposal.php

I will then be able to give you a proper and compete response.

Thanks,
Clay

Comment on The infinite universe of private money by Myrtle Beach Condos

Myrtle Beach Condos — Fri, 27 Aug 2010 01:05:50 +0000

The market is ruthless – hopefully it will swing back our way soon too

Comment on The big stretch by John Kucey

John Kucey — Mon, 23 Aug 2010 00:41:26 +0000

I havae a Church applicant in idaho that has 5 loans totalling about $300,000 and needs about 300,000 for repairs and upgrades
Only two of the properties are Churches and the approximate total value of the proerties is estimated to be voer $1,000,000.

Would your firm have an interest in this? What is your interest rate and term?

Comment on Top ten things brokers are sick and tired of hearing from lenders by admin

admin — Thu, 19 Aug 2010 20:22:35 +0000

Hi Wynn,

It seems to me that you are looking primarily for venture capital to fund a business concept (with some possible collateral, but not enough I think to make this work as a private money concept). Please correct me if I am wrong. We don’t do any venture/business capital per say but focus solely on private money loans collateralized by real property. However, there may be some readers out there who wish to weigh in on this with some helpful guidance. I appeal to the readers to offer info/assistance if they are in a position to do so.

Thanks and good luck Wynn,
Clay

Comment on Top ten things brokers are sick and tired of hearing from lenders by admin

admin — Thu, 19 Aug 2010 20:18:50 +0000

Hi Douglas,

I have to say that this really falls pretty far outside our own area of expertise here at Fairfield Financial. However, there may be some readers who can weigh in on this with some helpful guidance. I welcome anyone to do so.

Thanks and good luck,
Clay

Comment on Top ten things brokers are sick and tired of hearing from lenders by Wynn LaTorre

Wynn LaTorre — Tue, 17 Aug 2010 21:12:30 +0000

Mr. Sparkman,
I don’t pay any attention to all the adversity in the lending world. That being said, please review the following and kindly reply.
Attn: Investors; This is a proposal to invest in a ground floor Food Service Opportunity with a proven menu and a “ Unique New Concept”.
My name is Wynn LaTorre and I have been in the food and beverage industry my entire adult life. I’m also a licensed Building Contractor. Since 1986 I have designed and built several custom restaurants and owned four of them. Currently I have a new food service Concept designed as an Up-Scale, Quick-Service, Café/Pub and I am seeking assistance with funding.
The Unique attraction with our Concept at “The Brick Oven Pub” is the two Imported Italian Wood Fired Brick Ovens that are used Exclusively to service the entire menu. These two Ovens are show-cased, up front for all to witness our Exhibition Style Entertainment Cooking. The high heat of the Ovens allow for a rapid turnaround from the time you order to the time you are served. In most instances this is less than 5 to7 minutes. San Francisco style Pizza’s and a variety of quality entrees, with daily specials, are offered on the menu along with Regional Micro Beers, Imported and Domestic Draft Beers and a carefully selected list of Quality Wines.
This Concept is specifically designed for multiple units. Our first goal is to join forces with an “Investors Group” to assist with financing our first Café/Pub. Our long term goal, ultimately, is to open more Pubs in larger markets. Therefore, it is crucial that our first store be carefully planed and executed. We have the proper planning; however, to execute successfully it is very important to obtain proper initial funding.
Seeking: Partnership/ Investment/ Funding.

We are a Fast Casual, Quick Service, Café/ Pub with a proven menu and a very “Unique Concept”. We seek assistance with funding for the purchase of the property and project improvements. Our business plan is capital ready. The location is a free standing vacant restaurant for sale only, near Sonora California. The management team has worked with me in other restaurants I have owned and collectively we have well over 50 years of restaurant experience. We are prepared and ready to; implement project improvements, procure the necessary business equipment and to operate this restaurant when the remodeling is complete. We are offering an attractive percent of ownership in exchange for funding assistance. The first store shows strong annual projections (600 to 700k in first year sales). Future stores in larger markets will do considerably better with potential 15 to 20% return EBIT on sales. Please contact me for more project information and Investment Returns. Thank you, Best Regards, Wynn LaTorre / Founder
“The Brick Oven Pub”.
(209) 352-3470 wlatorre45@gmail.com

Comment on Top ten things brokers are sick and tired of hearing from lenders by Douglas Fodor

Douglas Fodor — Tue, 17 Aug 2010 20:25:58 +0000

I am interested in locating a private source, p-perhaps a venture capital investor who knows what chemical plants are, how capital intensive they are because they require more equipment than over consumer or retail operations. My tire recycling plant which will go through over 2,000,000 tires a year through the reators, and our plant will have four of them. it will produce 8,000 tons of carbon black powder, and over 1,375,000 gallons of plasticizer oil . net to complete plant approximately $30,000,000.00 the plant will be on a conytract to be operated by the chemical management company.the plant will net net net $approximately $20,000,000. not including debt service or taxes. I am the 100% owner of the plant at this time. I have paid the $55,000.00 for the business plan to be completed if I can locate an interested party for the project. this project will site in either Riverside or San Bernadino counties of Ca.
I like this area at it is undeveloped, it has land that is priced under $15.00 a sq.ft. all I need is light industrial zoning for the site, and the potential for USDA financing exists due to the economic development aspect of this plant which will provide over 37 jobs and provide over $1,000,000 in salaries annually.
let me know how you can help?

Douglas F. Fodor

Comment on What you will only learn on the streets about how to read an appraisal (and hopefully without the scars to prove it) by admin

admin — Tue, 10 Aug 2010 20:22:53 +0000

Well first of all, we can’t do 10 year loans. Our maximum term is generally five years. beyond that, it sounds doable, but I certainly couldn’t say for sure without knowing something about the property and the borrower. If you wish to submit a more detailed summary, either e-mail or go to the following link on our website: http://www.privatemoneysource.com/loanproposal.php

Thanks,
Clay

Comment on What you will only learn on the streets about how to read an appraisal (and hopefully without the scars to prove it) by Gwendolyn Roe

Gwendolyn Roe — Mon, 09 Aug 2010 22:44:47 +0000

I have a client who wants 25K and a 10yr loan. The property is located in Modesto, CA and currently is owned free and clear. Is this something you guys can do?

Comment on Twenty-five questions you must ask by admin

admin — Wed, 21 Jul 2010 18:44:26 +0000

Our max right now in CA would be 70% for good clean deals. We would prefer 65%. We generally like to see a first-time borrower come in with $10k or more, depending on the strength of the borrower and the quality of the deal itself. A borrower can also use additional collateral in lieu of cash.

Clay