RECENTLY FUNDED | $200K 1-4 Family Fix & Flip Acquisition | CT
LOAN CASE STUDY: Speritas Capital Partners helps an experienced commercial real estate investor expand into CT with her first fix & flip
THE SITUATION: An experienced commercial real estate investor from Massachusetts wanted to expand her business into CT. She had identified several interesting properties, but her lender wasn’t licensed to do business in CT.
The investor found Speritas Capital online and liked what she saw.
Financing Challenges & Obstacles
Identifying the right lender for this property and ‘new’ CT investor
Working with a borrower who was overseas during underwriting
Helping the borrower understand and navigate a new lender’s requirements
Need for speedy close to secure property purchase
Speritas Capital’s Role - Funding Solutions
With a property already identified, speed was essential. Speritas identified a lender that required relatively light documentation, making the closing process simpler than with traditional lenders, and at a competitive rate.
Speritas Capital helped the borrower organize her company documentation to meet lender’s requirements, providing templates that were easy to complete for articles of association and an operating agreement for the borrowing entity.
Throughout the process, Speritas Capital advocated for our client, easing the process and expediting the loan underwriting and closing.
Questions about Fix & Flip or Fix to Rent Loans?
Call or text 203-247-4358, send an email, or schedule a call now with Speritas Capital CEO, Jeff Bardos.
About this Fix & Flip Commercial Real Estate Loan
Loan Type: Commercial Real Estate
Property Type: 1-4 Family Acquisition – Fix and Flip
Lender: Hard money lender focused on experience & property value
Loan Amount: $200K
Terms: 1 year, interest only, 90% loan to acquisition cost; draws to cover 100% of renovation costs
Closed in: 30 days
Learn more about Fix & Flip and Fix to Rent Financing.
“Getting used to a new lender was a challenge, but Speritas Capital was along side me the entire way to a very speedy closing.”
Conclusion – Post Finance Update
The borrower was able to acquire the target property with a quick closing loan at a competitive rate. Construction on the CT project is currently underway.
This commercial real estate investor is ready for her next project and Speritas Capital is here to help her close quickly.
Do you need a strategic partner to help you with your next Fix & Flip property acquisition?
The Speritas Capital team is always happy to hear your story, learn more about your financing needs and answer your questions. We bring our 30+ years of banking experience and our transparent, strategic approach to every client and every deal, both large and small.
And we never take up front fees.
CONTACT INFO
Jeffrey Bardos
CEO Speritas Capital Partners
Call/text Jeff at 203-247-4358
Email Jeff with your ABL financing questions
Schedule a call with Jeff using our online scheduling tool.
More about Jeff
More Recently Funded Deals
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