Bridge Loan- $1.7 Million

One of our borrowers needed a quick cashout on a 33 Unit he purchased in Miami.  Our borrower paid $4million for the property.  He needed a quick bridge loan to fund repairs on aother property.  Despite this property not being stabilzed, we were able to get our borrower quick cashout so he could use the cash for another deal.  We will refinance this borrower into a long-term loan once he has this property rented and stabilized.  – John Femenia

For more information on this deal or other please follow John Femenia’s real estate lending blog. 

Link to the Press Release

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