Been doing this for about 4 years now and I still sometimes second-guess my lender selection process. My current approach: 1. Filter by loan type and state coverage first 2. Then narrow by LTV tolerance (I always check the most recent term sheet I have on file) 3. Finally sort by speed — if the borrower needs to close in 10 days, I'm not going to a lender who takes 3 weeks to issue a term sheet The problem is I have maybe 35 lenders in my rolodex and half of them have changed their guidelines in the last 6 months. Anyone have a systematic way to keep lender criteria current? I've been thinking about building a simple spreadsheet but wondering if there's a better approach.
Hey everyone, Layla Simmons here from Simmons Mortgage. Hope you're all having a productive week. I'm working on placing a deal for a client and would appreciate any lender recommendations or insights you might have. It's a $1.5 million acquisition of a light industrial property in Charlotte, NC. The client is looking for bridge financing. They're acquiring it for $1.5M, and we're targeting a 70% LTC, so about a $1.05M loan. The property is currently 85% occupied with strong in-place cash flow, showing a 1.1 DSCR on the target loan amount. The client plans to do some minor cosmetic upgrades and stabilize the remaining 15% vacancy over the next 12-18 months before refinancing into permanent debt. My client is an experienced operator with a solid track record in the industrial space, but this is their first acquisition in North Carolina, which has been a slight hurdle with some of my usual lenders. We've had a few soft quotes, but nothing quite hitting the mark on rate or term yet. I'm particularly interested in lenders who are comfortable with Charlotte as a market and perhaps have a more flexible approach to newer market entrants for established sponsors. Any suggestions for bridge lenders active in the Charlotte industrial market, especially those who can move quickly and are competitive on terms for a 70% LTC deal? I'm trying to learn from every deal, and this one has definitely highlighted the importance of market-specific lender relationships. Thanks in advance for your help!
Hey everyone, Layla Simmons here from Simmons Mortgage. I've got a deal I'm trying to place and would appreciate any lender suggestions or insights, especially from those who've done similar deals recently. It's a $950,000 acquisition loan for a mixed-use property in a solid B+ area of Denver. The property has two retail units on the ground floor and one residential unit above. My client is looking for a 70% LTV, so a loan amount of $665,000. They're experienced investors with a good track record on other commercial properties, but this is their first mixed-use with a residential component. The current financials show a 1.1 DSCR, which is a bit tight for some of my usual bridge lenders. The retail tenants are on 3-year leases with 18 months remaining, and the residential unit is month-to-month. The client wants a 2-year bridge with an extension option, planning to stabilize the residential unit with a longer-term lease and then refi into perm debt. I've hit a wall with a couple of my go-to guys who are either uncomfortable with the residential component in mixed-use or want a higher DSCR for this asset class. Any lenders out there who are strong on mixed-use, especially with slightly tighter DSCRs for experienced sponsors? Or any creative ideas on how to structure this to make it more appealing? Thanks in advance for the help!
Hey everyone, I'm working on placing a solid fix & flip deal and looking for some lender suggestions, especially those active in the Orlando, FL market. I've got a repeat client, experienced flipper with 5 successful projects under his belt in the last 3 years, all exited profitably. He's looking to acquire a single-family home for $750,000 with a rehab budget of $150,000. Total project cost is $900,000. He's seeking 75% LTC, so we're looking for a loan amount around $675,000. ARV is conservatively projected at $1.2M based on recent comps in the area. He's got 25% cash into the deal, and his credit is solid (720 FICO). We're targeting a 12-month term. The property is a 4-bed, 3-bath, 2,200 sq ft home built in 1985, needs a full gut rehab including kitchen, baths, flooring, roof, and HVAC. Contractor bids are locked in. My usual lenders are a bit tight on the 75% LTC right now for this specific market, or their points are making the deal less attractive for the client. I'm trying to get him into the 9-10% interest range with 2-3 points. Any lenders here with competitive programs for experienced flippers at this LTC? Or any creative structures you've seen work recently for a similar deal? Appreciate any insights or direct contacts.
Good morning NeuFinance community, Preston Wade here from Wade Capital Group. I'm currently working on a bridge acquisition for a 62-unit multifamily property in Dallas, TX, and I'm looking for lender insights or direct placements. My client is under contract for $5.8M. The property is currently 82% occupied, but has significant upside through light value-add renovations (unit turns, common area refresh) and bringing rents to market. Our pro forma shows stabilization at 95% occupancy within 12-18 months. We're seeking 75% LTC, which is $4.35M. The current in-place DSCR is tight at 0.92x, but our underwritten 90-day DSCR is 1.05x, factoring in immediate rent bumps on vacant units and a conservative 10% capex reserve. Sponsor has strong multifamily experience in the DFW market, with three successful exits in the past four years, all hitting projected returns. Their liquidity is solid at 12% of the loan amount, with net worth exceeding the loan. Key challenges: The seller is looking for a 45-day close, and while we have a solid appraisal coming in, the low in-place DSCR is the primary hurdle for some traditional bridge lenders. We're targeting a 24-month term with a 12-month extension option. Looking for lenders comfortable with a slightly lower initial DSCR given the clear value-add strategy and strong sponsor. Any recommendations for lenders active in the Dallas market with this profile would be greatly appreciated. Thanks in advance for your input.
Team, I'm working on a bridge refi-cash out for a client in Atlanta, GA, and am looking for a lender with a strong appetite for well-performing multifamily assets in secondary markets. The property is a 32-unit garden-style apartment complex, built in 1985, located in a B+ submarket with strong rental growth. My client acquired it in 2021 for $2.8M, invested $350K in unit renovations (12 units updated so far), and has successfully pushed rents from $950 to $1,200 for renovated units. Occupancy has consistently been 95%+. Current TTM NOI is $275,000. We're seeking a $3.2M loan, targeting 70% LTV on a current appraised value of $4.6M. The client wants to pull out $400K for a down payment on another acquisition. Pro-forma DSCR is solid at 1.15x based on current NOI. The client has good experience with 3 other similar assets in the Atlanta MSA. They are looking for a 2-year term with a 1-year extension, interest-only, and are open to competitive rates. The exit strategy is a conventional perm loan once the remaining 20 units are renovated and stabilized, likely within 18-24 months. I've got a detailed underwriting package ready, including rent rolls, T-12, and renovation budget. If this fits your lending box, please reach out. Always appreciate the insights from this community.
Team, I'm looking for lender suggestions on a bridge refi-cash out deal I'm working on. The client owns a 48-unit multifamily property in a C+ submarket of Houston, TX. They acquired it in 2021 for $3.8M, put in about $750k in CapEx (unit turns, common area upgrades), and have successfully pushed rents. Current occupancy is 94% with an in-place DSCR of 1.10x on a 7.5% interest rate. The property appraised last month at $6.5M. We're seeking a $4.5M bridge loan to cash out roughly $1.2M for another acquisition. This puts us at approximately 69% LTV. The current loan is maturing in 4 months. The client has strong sponsorship, good liquidity, and a portfolio of similar assets. Their plan is to continue light value-add, stabilize at a 1.25x DSCR, and then refi into permanent debt within 18-24 months. Key challenges: While the DSCR is acceptable for many bridge lenders, some are pushing back on the C+ submarket classification for higher LTVs, despite the strong performance and appraisal. We're looking for a lender comfortable with this asset class and location, ideally offering competitive rates in the 8.5% - 9.5% range with a 24-month term (with extension options). Quick close is not critical, but we'd like to fund within 45 days. Any recommendations for lenders active in Houston on this type of bridge product would be greatly appreciated. Thanks in advance for your insights.
Hey NeuFinance community, Pete Gallagher here from Gallagher Hard Money. I'm putting feelers out for a client with a solid retail acquisition in Jacksonville, FL. It's a 12,000 sq ft multi-tenant property, currently 70% occupied, with a clear path to 95% occupancy through lease-up and some minor tenant improvements. The purchase price is $1.85M, and they're looking for a $1.2M acquisition loan, putting them at roughly 65% LTV. The sponsor has strong liquidity and prior experience with similar value-add retail plays in the area. The catch, as always, is speed. This deal needs to close in 15 business days. We've got a clean appraisal and title work initiated. While we're a direct hard money lender, this one is slightly outside our sweet spot for LTV on a pure acquisition with light value-add, given our typical 55-60% comfort zone on these types of assets. We're looking for a partner who can move quickly and understands the asset value here. This isn't a distressed asset; it's a strategic acquisition for a seasoned investor. We've explored conventional bridge options, but the timelines simply don't align with the seller's expectations. If you're a lender who can underwrite quickly based on the asset and sponsor strength, and you're comfortable with a 65% LTV on a value-add retail play in a growing market like Jacksonville, let's connect. We're ready to provide all due diligence materials immediately.
Alright NeuFinance, Pete Gallagher here from Gallagher Hard Money. I've got a client looking to acquire a 12-unit multifamily property in a solid B-class neighborhood in Phoenix, AZ. Purchase price is $3.0M. They're putting in $1.2M cash, so we're looking for an $1.8M loan, which puts us right at 60% LTV on the acquisition. The plan is a light value-add play: cosmetic upgrades to units as they turn over, bringing rents up from an average of $1,200 to $1,500 over 12-18 months. They've got a strong track record with similar projects in the area. Here's the kicker: seller wants a 14-day close. My usual sources are a bit tied up or can't hit that timeline reliably for this size. We're talking true asset-based lending here. Borrower's credit isn't pristine, hovering around 650, but they've got significant liquidity and experience. We're not looking for a conventional bridge that's going to nitpick every detail of the business plan upfront; we need a lender who understands the value is in the asset and the sponsor's ability to execute, even with a quick turnaround. I'm looking for direct lenders who can genuinely perform on a 14-day close for a loan of this size and LTV. We're comfortable with hard money rates and points for the speed and flexibility this requires. If you're a principal lender who can move fast and underwrite based on the real estate, shoot me a DM or comment below. Let's get this done.
Team, I'm looking for some creative solutions on an industrial acquisition deal we're trying to place. We have a client looking to acquire an existing 30,000 sq ft industrial property in a secondary market, outside of Indianapolis. The purchase price is $4.8M, and they're seeking $3.1M in financing, putting them at 65% LTC. The borrower is a well-established regional manufacturing company with strong financials and a track record of successful operations, looking to expand their footprint. They have significant liquidity and a clean balance sheet. The challenge here is a known environmental issue from a previous tenant. There's a remediation plan in place, fully scoped and budgeted at $350k, with a reputable environmental firm contracted. The seller is willing to hold back the full $350k in escrow at close, to be released upon completion and sign-off of the remediation. Our current lenders are balking at the environmental holdback structure, even with the seller's commitment. They want the remediation completed pre-closing, which isn't feasible for the seller or buyer. We're exploring options for a lender comfortable with this type of environmental escrow or a bridge solution that can accommodate it. Ideally, we're looking for a 3-5 year term, but a shorter bridge with an extension option could work if the terms are competitive. Any lenders or brokers here who have successfully placed deals with similar environmental holdback structures? Specific lender recommendations or creative structuring ideas would be greatly appreciated. We've vetted the remediation plan thoroughly, and it's a solid deal otherwise.
Hi everyone, Patrice Dunn here from Dunn Mortgage Advisors. We've got an interesting acquisition deal on the table that I'm looking for some creative bridge lender options on. I'm trying to place this for a long-time client, a seasoned developer who's done multiple successful projects with us, but this one has a slightly tighter timeline and higher leverage need than typical. This is a $2.8M acquisition of a mixed-use property in a rapidly developing section of West Philadelphia. The property currently has 4 ground-floor retail units (3 leased, 1 vacant) and 8 residential units above (all occupied, month-to-month). My client plans a light value-add strategy: refreshing the residential units as leases turn over, and a minor build-out for the vacant retail space. The purchase price is $2.8M. Total project cost, including acquisition, light renovations, and closing costs, is estimated at $3.2M. We're seeking an 80% LTC bridge loan, so approximately $2.56M. My client is comfortable with a 12-18 month term. The challenge here is the higher leverage request for a mixed-use property, even with a strong sponsor and a clear value-add plan. Most of our usual bridge lenders cap out around 70-75% LTC for this asset class. We've got a strong appraisal coming in at $3.5M post-renovation, and the sponsor has over $15M in AUM across their portfolio. Cash flow is positive from day one. I'm looking for lenders who are comfortable with this leverage point on mixed-use, perhaps with a slightly higher interest rate or a small equity kicker. Any recommendations for lenders who are aggressive in the Philly market for this type of deal would be greatly appreciated. Thanks in advance for your insights.
Folks, Paul Whitmore here from Whitmore Capital. I see a lot of deal posts asking for bridge lenders at 70% LTV, and while that's a common target, it's crucial to understand what goes into our 'yes' or 'no' beyond that headline number. A recent deal I reviewed illustrates this perfectly: a broker submitted a $1.5M acquisition bridge for a commercial building in a secondary market, asking for 70% LTV on a $2.15M purchase price. Sounds straightforward, right? Our underwriting quickly flagged a few issues. First, the borrower's global cash flow was tight. They had a strong balance sheet on paper, but recent operating statements showed declining revenue in their other ventures, creating a potential liquidity crunch if this project hit delays. Second, the proposed value-add plan was ambitious for the market. They planned a full gut rehab for a new retail tenant, but comps for similar renovated spaces in that specific submarket were scarce and showed slower lease-up times than projected. Our internal valuation came in 5-7% lower than their purchase price, effectively reducing the true LTV at our comfort level. Ultimately, we declined. It wasn't just the LTV; it was the confluence of borrower liquidity risk, an aggressive value-add timeline in a lukewarm market, and a slightly inflated purchase price relative to our conservative valuation. We're not just lending on bricks and mortar; we're lending on the borrower's ability to execute and the market's capacity to absorb the finished product. Always provide a clear exit strategy, detailed borrower financials, and realistic market analysis. That's what moves the needle for us.
Folks, I see a lot of bridge deal inquiries coming through at 75% LTV, especially on value-add multifamily or commercial assets. While many programs advertise up to 75%, it's crucial to understand the 'up to' part. For us at Whitmore Capital, that 75% is almost always based on the *as-is* value, not a future stabilized value. We might stretch to 70% of the as-is for a strong sponsor with a clear, well-capitalized business plan and significant equity injection. For example, if you bring us a $5M acquisition with a $1M value-add budget, and the as-is appraisal comes in at $5.2M, we're likely looking at a max loan of around $3.6M (70% of $5.2M), not $4.5M (75% of a projected $6M+ ARV). The gap between the as-is value and the all-in cost needs to be covered by sponsor equity, not just our loan proceeds. Another common issue is the sponsor's liquidity post-closing. We need to see sufficient reserves to cover interest payments, construction overruns, and lease-up periods. A sponsor showing $50k in the bank for a $1M rehab project on a $3M acquisition is a non-starter, even if the LTV looks good on paper. We're looking for sponsors who can weather a storm, not just execute a perfect plan. It's about risk mitigation for both sides. Send us deals where the sponsor has skin in the game and a realistic budget, and we can move quickly.
Hey everyone, Bianca Estrada from Estrada Capital here. Hope you're all having a productive week. I'm working on placing a DSCR deal and looking for some lender suggestions, especially given the current rate environment. My client is looking to refi-cash out on a single-family rental in Orlando, FL. It's a solid property, appraised at $1.6M, and they're looking for $1.1M, which puts us right at 68.75% LTV. The current rent is $7,000/month with PITI around $6,086, giving us a 1.15 DSCR. The borrower has a strong credit score (740+) and a portfolio of 5 other free-and-clear SFRs, so they're experienced. I've sent it to a couple of my usual DSCR shops, but they're either coming back with higher rates than we'd like or pushing for a slightly higher DSCR minimum, especially with the cash-out component. I'm trying to keep the rate competitive for the client, ideally in the low 8s if possible, but I know that's getting tougher to hit these days. My last DSCR deal, a refi in Tampa, we ended up at 7.875% with a 1.20 DSCR, but that was just 65% LTV. I'm curious if anyone has a go-to lender for this kind of scenario, specifically with a slightly lower DSCR for cash-out in a strong market like Orlando. Any recommendations for lenders who are aggressive on LTV/rate while still understanding the market nuances would be greatly appreciated. Thanks in advance for any insights!
Hey everyone, Bianca Estrada here from Estrada Capital. Hope you're all having a productive week. I'm working on a deal for a client and could use some recommendations for a bridge lender who's active in San Antonio, TX. It's a refi-cash out on a portfolio of 4 single-family rentals. The client wants to pull out about $950k for another acquisition, targeting a 65% LTV across the portfolio. The properties are all performing well with good occupancy and strong DSCRs, averaging 1.35x. The client has a solid track record with multiple successful flips and rentals under their belt, credit is 720+. We're looking for a 12-18 month term, interest-only, with a clear exit strategy to conventional financing once the new acquisition stabilizes. My client is comfortable with a competitive rate, but closing speed is a factor here. I recently worked on a similar deal in Houston where we had a lender pull back on LTV at the last minute due to some perceived market softening, which was a headache. So, I'm really looking for lenders who are consistent with their term sheets and have a strong appetite for performing SFR portfolios in Texas right now. Any lenders you've had good experiences with for this type of scenario, especially in the San Antonio market, would be greatly appreciated. Thanks in advance for any insights!
Hey everyone, Mike Torres here from Torres Lending Co. Hope you're all having a solid week. I'm trying to place a deal for a client and could use some recommendations for DSCR lenders who are aggressive on cash-out refis, especially in Florida. I've got a client looking to refi a portfolio of 3 SFRs in the Orlando market. Total value is around $1.15M, and they're looking for an $850k cash-out loan. This would put them at about 75% LTV, which I know is pushing it for some lenders on a cash-out. The properties are all performing well, with an aggregate DSCR of 1.20. They've owned them for 4+ years, clean titles, no issues. My usual go-to DSCR lenders are capping out around 70% LTV for cash-out, or their rates jump significantly at 75%. The client is experienced, 10+ properties in their portfolio already, good credit (740+ FICO). They're looking to pull cash out for another acquisition, so competitive rates are key, even with the higher LTV. Any lenders you've had success with lately who are comfortable at 75% LTV on DSCR cash-outs for SFR portfolios? Especially if they're strong in Florida. I just closed a similar deal last month at 70% LTV with Lender X, but this 75% LTV is proving to be a bit more of a challenge. Any insights or direct contacts would be hugely appreciated. Thanks in advance!
Hey everyone, Mike Torres here from Torres Lending Co. Hope you're all having a solid week. I've got a deal I'm trying to place and would appreciate any lender recommendations, especially those active in secondary markets. It's a $1.5M acquisition for a mixed-use property in a smaller city upstate New York. The client is looking for 70% LTC. Purchase price is $1.5M, so we're talking about a $1.05M loan. The property is currently 75% occupied with a good mix of retail on the ground floor and residential units above. It needs some light value-add – mostly cosmetic updates to common areas and a few vacant residential units to bring rents up to market. Client has a strong track record with similar projects, but this is their first time venturing into this specific region. We're looking for a bridge loan with a 12-18 month term. My client is comfortable with interest-only and has a clear exit strategy through a conventional refi once the property is stabilized and rents are optimized. I've already hit up a few of my usual suspects, but they're either not keen on upstate NY or their LTV/LTC is a bit too conservative for this one. I had a similar deal last month in Pennsylvania that I thought was a slam dunk, but the lender's appraisal came in way under, which taught me to really vet the lender's market comfort upfront. Any lenders you've had success with for mixed-use, light value-add in secondary markets like this? Open to both institutional and private capital. Thanks in advance for any leads!
Hey everyone, I'm working on a refi-cash out deal for an experienced investor looking to pull equity from two existing 4-unit multifamily properties. Both are fully stabilized and performing well, but the current lender's rates are a bit high, and my client needs to free up capital for a new acquisition. Here are the specifics: Two separate properties, both 4-units, located in a secondary market in North Carolina (think Raleigh/Charlotte surrounding areas, not primary core). Total loan amount needed is around $1.7M ($850k per property). Client is looking for 70% LTV based on current appraisals, and the DSCR is solid at 1.25x for each property. Client has 10+ doors in their portfolio, excellent credit (740+ FICO), and a strong track record. They're looking for a 30-year fixed DSCR product, ideally with a competitive rate and minimal prepayment penalties. We've hit a wall with a couple of our usual lenders who are either too conservative on LTV for secondary markets or their rates are just not competitive enough for this client's goals. I'm looking for lenders who are aggressive on DSCR for experienced investors, comfortable with secondary market 4-units, and can offer a strong rate sheet for a 70% LTV cash-out refi. Any recommendations or direct contacts for lenders who fit this profile? Specific program details or recent term sheets would be super helpful. Thanks in advance!
Morning everyone, Robert Huang here from Pacific Bridge Capital. I'm actively looking to place a compelling multifamily acquisition bridge deal and wanted to tap into the collective expertise here. We have a client under contract on a 96-unit multifamily property in Detroit, MI, for $6.5M. The property is currently 60% occupied and requires significant capital expenditure to stabilize. Our client has a proven track record with similar heavy value-add plays in the Detroit market, successfully executing on two prior projects (one 120-unit, one 75-unit) that saw occupancy jump from ~55% to 90%+ within 18 months. They're seeking $5.2M in bridge financing, which represents 75% of the total project cost (acquisition + $1.5M in renovation budget). The renovation plan is comprehensive, including unit interior upgrades, common area improvements, and exterior deferred maintenance. Our underwriting projects a stabilized value north of $10M within 24-30 months, with a projected 1.25x debt yield on stabilized NOI. We're looking for a lender comfortable with higher leverage on the LTC (up to 75%) for a heavy value-add play, ideally with experience in the Detroit market. Term needs to be 24-36 months, with an interest reserve for the first 12-18 months. Borrower is strong, with significant liquidity and net worth. If this aligns with your program, please shoot me a DM or connect directly. Happy to share the full underwriting package and client background.
Hey everyone, Raj Patel here from Patel Mortgage Group. I'm working on placing a compelling multifamily acquisition bridge deal in Phoenix, AZ, and looking for lenders active in that market with a strong appetite for light value-add. The deal is for a 24-unit garden-style apartment complex built in 1985, located in a solid B-class submarket with strong rental growth. The sponsor is acquiring it for $4.55M. They're experienced operators with a successful track record on similar projects in the region, having recently exited a 36-unit property with a 28% IRR. We're seeking a $3.2M bridge loan, targeting 70% LTV on acquisition. The business plan involves light interior renovations (unit turns, appliance upgrades, new flooring) and exterior aesthetic improvements (paint, landscaping) over an 18-month hold period, projecting to push rents by $150-200/unit. Post-renovation, the stabilized value is projected at $5.8M, which would put the loan at approximately 55% LTV on the stabilized value. Key considerations: The sponsor is looking for a flexible prepayment structure and potentially a small capex reserve or future funding facility for the renovations, though they have strong liquidity. They're aiming for a 24-month term with extension options. We're targeting an interest rate in the mid-to-high 9s, depending on structure. Looking for lenders who can move quickly and appreciate a well-underwritten, sponsor-driven deal in a growth market. Please DM me if this aligns with your current lending parameters. Happy to share the full OM and pro forma.
Hey everyone, Dwayne Payne here from Payne Capital Partners. Hope you're all having a solid week. I'm working on placing a bridge deal for a client and wanted to tap into this community's expertise. I'm still relatively new to the game, so any insights or lender recommendations would be hugely appreciated. We've got a client looking to acquire a 12,000 sq ft office building in a growing secondary market just outside of Austin, TX. Purchase price is $3.5M. They're looking for a $2.3M bridge loan, which puts us at about 65% LTV. The property is currently 80% occupied with a mix of local professional services tenants, all on NNN leases with 2-4 years remaining. The client's plan is to stabilize the remaining 20% vacancy over the next 12-18 months and then refi into conventional debt. They've got good experience with similar assets in the region. My main challenge right now is finding a lender comfortable with the secondary market location and a slightly higher LTV for office, especially with the current sentiment around office space. I've had a few initial conversations, but some are balking at the LTV or the market. We had a similar deal last quarter, a retail acquisition in Florida, and the lender really liked the client's track record, which got us over the line. Hoping for a similar approach here. Does anyone have a go-to bridge lender for office acquisitions in secondary Texas markets, particularly those open to a 65% LTV? Any specific contacts or programs that come to mind? Thanks in advance for any help or advice you can offer. Always learning from you all.
Hey everyone, Dwayne Payne here from Payne Capital Partners. Hope you're all having a solid week. I've got a deal I'm trying to place and would appreciate any lender suggestions for a bridge loan. We're looking for $1.8M for the acquisition of a 25,000 sq ft industrial property in a tertiary market (think outside of a major metro, but still decent population growth). The purchase price is $2.65M, so we're targeting around a 68% LTV. The borrower is a repeat client of ours, strong sponsor with a good track record in light industrial and flex space. They're acquiring this property to re-tenant it after the current tenant vacates in 6 months, then stabilize and refi into perm debt. Here's the rub: there's an existing Phase I Environmental Site Assessment that flagged some minor concerns, nothing major, but the lender will likely want a Phase II. The borrower is prepared for this, but it means we need a lender who's comfortable with that process and can move quickly once the Phase II is completed and cleared. We're looking for a 12-18 month term, interest-only, with some flexibility on extension options. Ideally, a lender who can fund within 30-45 days of a clean Phase II. I just closed a similar industrial deal last month, but that one was squeaky clean environmentally. This one has a bit more hair. Any recommendations for lenders who are strong in industrial bridge, especially with environmental nuances? Appreciate the insights!
Hey everyone, Reggie Owens here from Owens Bridge Finance. Hope you're all having a solid week. I've got a new deal on my desk that I'm looking to place and wanted to tap into the collective wisdom here. Client is looking for a bridge loan for a mixed-use acquisition in a growing secondary market (think mid-sized city in the Southeast, not a major metro). It's a 12-unit property: 8 residential apartments above 4 ground-floor retail spaces. Purchase price is $3M, and they're looking for $2.1M, so 70% LTV. Sponsor is strong, experienced local operator with a good track record on similar projects, but they're a little light on liquid cash after another recent acquisition. They've got a clear value-add plan to renovate the residential units and re-tenant the retail spaces at market rates. Property is currently 50% occupied on the residential side and 2/4 retail units are leased, but with below-market rents. The plan is to stabilize within 12-18 months. My main challenge is the mixed-use aspect and the higher LTV on an acquisition with some vacancy. We just closed a similar deal last month at 65% LTV, but that was a fully stabilized asset, so this one's a bit different. Who are your go-to lenders for mixed-use properties, especially in secondary markets with a value-add component and a slightly higher LTV? Any lenders that are particularly comfortable with partial vacancy at acquisition? Appreciate any insights or direct contacts you might share. Always learning from these types of deals.
Hey everyone, Hector Vega here from Vega Capital. Got a residential bridge deal on my desk I'm looking to place and could use some lender suggestions, especially those who can move fast. Client is acquiring a 4-unit residential property in a secondary market (think outskirts of a major metro, not rural). Purchase price is $1.85M. They're putting down $650k cash, so we're looking for a $1.2M bridge loan. LTV is solid at 65%. The property is currently 100% occupied, generating decent cash flow, but the plan is to do some light cosmetic upgrades and then refi into a DSCR loan within 9-12 months. Client has a strong track record with other rental properties, good liquidity, and a 720 FICO. The main challenge is the seller is pushing for a 15-day close. We're already 3 days in, so we need a lender who can underwrite and fund in 10-12 days. I've got a couple of my usual shops looking at it, but their timelines are a bit tight right now. Any recommendations for lenders who are aggressive on residential bridge, particularly on speed, and comfortable with a 4-unit in a solid B market? Looking for competitive rates, but certainty of close and speed are paramount here. Appreciate any leads or insights.
Hi everyone, I'm seeking a bridge lender for a compelling industrial acquisition opportunity. My client is under contract to acquire a 45,000 SF light industrial property in a growing secondary market – think a strong sub-market outside of a major metro like Dallas or Atlanta. The purchase price is $5.5M, and we're targeting a $3.8M loan, equating to ~70% LTV on acquisition. The sponsor is a well-capitalized, experienced operator with a strong track record in this asset class, having successfully executed similar value-add strategies on 5+ industrial assets in the past 3 years. The property is currently 70% occupied with below-market rents. The plan is to invest approximately $750K in CapEx over 12-18 months for deferred maintenance, cosmetic upgrades, and tenant improvements to bring the remaining 30% online and push rents on existing leases as they roll. We project a stabilized NOI of $600K within 24 months, which at a 7.5% cap rate implies a stabilized value of $8M. This provides significant equity cushion post-stabilization. We're looking for a lender comfortable with a 24-36 month term, interest-only payments, and a competitive rate. Experience with value-add industrial in secondary markets is a must. We have a detailed underwriting package, including a comprehensive business plan, sponsor financials, and third-party reports ready for review. Happy to share more specifics via DM. Thanks in advance for any introductions or insights.
Team, I'm looking for a solid bridge lender for a $4.5M cash-out refinance on a 60-unit multifamily property in a secondary market (think mid-sized Midwest city, not a primary MSA). My client, a repeat sponsor with 15+ years experience and a strong track record, acquired this property 18 months ago, stabilized it, and now wants to pull out equity to fund a significant value-add play on a new acquisition. They're looking for roughly 70% LTV on the current appraised value, with a 24-36 month term, interest-only. They've got about $1.2M in cash equity remaining in the deal, and the property is currently generating a 7.5% in-place cap rate. The plan is to use the cash-out proceeds for a new acquisition, which will then undergo a similar value-add strategy. We're looking for a lender who understands the nuances of secondary market multifamily and is comfortable with a sponsor who's active in multiple simultaneous projects. This isn't a distressed asset; it's a strategic capital raise for growth. We've got a full underwriting package ready including rent roll, T-12, pro forma, and sponsor financials. Any recommendations for lenders who are aggressive in this space and can close within 45 days would be greatly appreciated. Thanks in advance for your insights.
Morning, NeuFinance. Miles Underwood here from Underwood Lending. I'm looking to place a hard money acquisition deal that needs to close fast, ideally within 10 business days. This is for a client of mine acquiring a 10,000 sq ft retail strip center in a growing secondary market – think Raleigh-Durham MSA. The property is 90% occupied with established local tenants, good cash flow, and the sponsor has a strong track record with similar assets, though their liquidity is tied up in another project, necessitating speed over rate. We're looking for a $1.1M loan against a $1.7M purchase price, putting us at a 65% LTV. The sponsor plans to refi out into conventional debt within 12-18 months after stabilizing the last vacant unit and renewing a key tenant. They're comfortable with hard money rates and points for the speed and certainty of execution. We've got a clean title, recent appraisal, and environmental reports in hand. I'm prioritizing lenders who can move quickly and underwrite based on asset value and clear exit strategy, not just sponsor credit. If this fits your lending box, please PM me with your typical terms and turn times for this type of deal. Let's get this done.
Hey everyone, Cynthia Reeves here from Reeves Capital. I see a lot of great deals being floated, and often questions about lender fit. Wanted to share a bit about our wheelhouse to help brokers streamline their submissions. We're primarily focused on bridge and ground-up construction loans, typically in the $1M to $15M range. Our sweet spot for bridge is value-add multifamily, light industrial, or retail repositioning. We like seeing clear business plans – not just 'stabilize and sell,' but specific improvements, budget, and a realistic timeline. We've closed bridge deals with LTVs up to 75% on purchase, and LTCs up to 85% on rehab, but those require strong sponsors with relevant experience and liquidity to cover potential cost overruns or lease-up delays. On the construction side, we're active in infill residential (single-family spec, townhomes, small multifamily up to 20 units) and light commercial. We're looking for experienced builders with a proven track record, not just one or two projects. A common reason for decline here is an untested general contractor or a land basis that's too high, squeezing profit margins. We typically cap out at 75% LTC, but can go higher with a strong pre-sale component or significant sponsor equity. What makes a deal work for us? Beyond the numbers, it's about the story and the sponsor. Clear exit strategy, realistic pro-forma, and a sponsor who knows their market. If you've got a deal that fits these parameters, feel free to reach out. I'm always happy to give a quick gut check.
Hey everyone, Greg Novak here from Novak Capital. I'm seeing a recurring theme lately in the deals hitting my desk, especially on what brokers perceive as 'easy' bridge loans, and it's leading to a lot of unnecessary declines. The most common culprit? Overly aggressive ARV assumptions on light-value-add plays, particularly for single-family rentals (SFR) or small multifamily (2-4 units). We'll get a deal for, say, a $500k acquisition, $50k rehab budget, and the broker's pro forma shows a $750k ARV. The ask is for 75% LTV on ARV, or $562.5k. Sounds good on paper, right? Here's where it falls apart: Our appraiser comes back with a $625k ARV, maybe $650k if they're feeling generous. That's a 15-20% difference from the broker's initial estimate. Now, that $562.5k loan request is suddenly 90% of the actual ARV, or even higher. No private lender, especially on a bridge, is going to touch that without significant equity from the sponsor. My advice? Be conservative with your ARV. Get some comps yourself, talk to a local agent. If your sponsor is banking on a 30%+ appreciation post-rehab in a stable market, that's a red flag. We're looking for value creation, not market speculation. A solid 15-20% spread between purchase + rehab and ARV is usually what we underwrite to, allowing for some buffer. If you're pushing past that, you need to have ironclad comps and a very experienced sponsor with a proven track record. Otherwise, the deal will likely get kicked back or require a much larger cash injection from your client.
Hey everyone, Emily here from Sutton Lending Partners. Hope you're all having a productive week. I'm looking to place a construction loan for a client and wanted to tap into this community's expertise. The deal is for a 4-unit infill development in a growing secondary market (think exurbs of a major metro, population around 150k). Client is a seasoned local builder, done similar projects, good track record, but this is his first time needing a construction loan of this size for a multi-unit. He typically self-funds smaller duplexes. Total project cost is $1.3M, seeking $950K in debt. ARV is projected at $1.8M. He's got 30% cash equity in the land and soft costs already. I've approached a few regional banks, but they're either too slow or want a much lower leverage point for new construction in this market. Some private lenders I've spoken to are quoting rates that are just too high for the client's pro forma, pushing 12%+. He's looking for something in the 9-10% range, 12-18 month term, with a decent draw schedule. He's solid, but not a 'name brand' developer that gets automatic low rates. Any lenders out there, or brokers who've recently placed similar deals, that you'd recommend? Especially interested in those who are comfortable with infill in secondary markets and can move relatively quickly. I'm learning a ton with each new deal, and this one feels like a great opportunity for the right lender. Thanks in advance for any insights!