These 5 blanket loans consisted of 51 single family residences in Memphis totaled just over $1.1M
The investors were active in purchasing real estate at deeply discounted prices.
They located a portfolio of 54 SF residences in Memphis. Yes, the properties had deferred maintenance, tax liens, and the current lender was getting ready to foreclose on the owner. Because of all of this, the borrowers were not able to finance this portfolio purchase via traditional means, so they were looking for a solution. And they found it here.
The portfolio was reviewed and the properties that did not meet our lending criteria were eliminated. The borrowers then included additional properties in order to keep the necessary LTV. A title company was engaged to clear andy title issues.
As a result, the borrowers were able to receive the loan needed on 51 properties!
So, if you have a blanket loan that needs financing, visit us right here, right now!