443-336-7000 info@PressGoManagement.com
Sometimes you plan on a long term tenant occupied project. Sometimes you find yourself in circumstances that force financing for a longer term then expected. Perhaps a property renovation outlasts a hard money term, or market sale timing is not in your favor.
It happens all the time ... and we're ready to help.
Generally, our Buy & Hold Funding is Fixed rate & fully amortizing over a 30 year term. We also offer 3, 5 & 7 year terms, even a Full 30 year fixed rate term. Seasoning of ownership can be as short as 3 months with improving terms for longer tenure and with tenants in place. Cash out at then market appraised value after 90 days is also available. And these are low documentation loans. Rates range from 5.99% to 8.75% with 2 - 4 points typically.
We offer individual property acquisition & rehab funding when our Line of Credit or institutional sources don't fit the need.
Private equity funding provides flexibility, speed and is usually obtained from local sources where navigating market conditions down to the block can really make a difference. This type of funding can go as high as 100% of acquisition and rehabilitation if the After Renovation Value is there, but typically start at 80% of acquisition & rehab or 65% of ARV.
Terms improve as our relationship grows and start at 9.9%-15% interest only, for 9-12 months with 3-6 points depending on the scope of your project.
To see what is available and how it fits your project... Just Press go
by clicking on the blue "Request Funding" bar above.
A working capital line of credit. This line of credit is for tenured investors who do “Fix & Flip” acquisitions on a regular or semi-regular basis. This line provides short term working cash for up to 12 months (not just 6, like other sources) Your line is based primarily on the project performance and on your liquidity, not personal debt to income.. (Example: You have $50K in liquidity - we will lend up to $250K based on the merits of your project and your track record…
5 to 10 times liquidity up to $7 million) Terms improve as our relationship grows and start at 10%-12% interest only with 2-3 points. Once your Line of Credit is in place, you have "Proof of Funds" & can close in as little as 72 hours from property submission.
There's no shortage of well qualified Realtors in the marketplace, but nobody has the
"collaboration" part of end buyer's financing down better then we do. Through our partnership with Washington Home Mortgage and others, you benefit from our experience working with realtors, builders, private buyers and sellers for the past 34 years. We bring the parties together for a more qualified buyer, with the right loan and the best value. That means a faster turn, a happy customer and a better reputation for you, your realtor and your next project.Just Press go.