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

36 Units- Multifamily Property San Bernardino, Calif.

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.