• (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610
  • (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610

36 Units Multifamily

Another Successful Funded Loan

  • $2,240,000
  • 5 Year fixed @ 4.65%
  • Purchase-70% LTV
  • 36 Units
  • Multifamily Property
  • San Bernardino, Calif.

ASSIGNMENT:

The buyer/borrower was referred to us by the listing agents. They had a relationship with another lender but decided to go with us. We were excited for the opportunity and definitely wanted to perform.

 

CHALLENGE:

The subject property was poorly managed and had some evictions in process, some substandard notices on title, and a portion of buyers down payment was from an exchange that had already closed but time clock was ticking fast.

 

SOLUTION:

We worked with the agents in making sure that all substandard work was completed and signed off and removed from title, any evictions/ vacant units were leased up, and we placed the client into a nice low doc loan program and closed on time. Great new client – very diligent.