FORECLOSURE FINANCING PROGRAM
Do you really want to give up control and share your profits?
If you’re in the real estate business you already know that equity partners are hard to find, and good equity partners even harder. When you’re lucky enough to find a partner, you often rush into the relationship without thinking clearly about the financial implications of your relationship. So what often happens when you rush into a relationship? When you leave the closing table and begin calculating your share of the profits you realize your new partner just took most of the profit you worked so hard to make. Also, with an equity partner you have another person’s opinion on everything you do —on YOUR deal!
WHY GIVE UP EQUITY WHEN YOU CAN BORROW FROM SHELBY FUNDING?
Shelby Funding is a bridge lender
- THAT PROVIDES FORECLOSURE ACQUISITION FINANCING WITHIN 24 HOURS that can provide PRE-BIDDING FUNDING on the day of foreclosure.
- For real estate entrepreneurs in South Florida
- Whose management team each have more than 30 years experience.
Current Parameters for Shelby’s Foreclosure Finance Program*
Loan Amount: Up to $500,000 per asset
Rates: 1.25% per month interest only paid on a monthly basis.
Borrowers: Real Estate professional investors who focus on foreclosure acquisitions for rehab/flipping, rent-to-own, or investment rental (non-owner occupied) residential and multifamily properties.
Loan Term: Up to 18 months.
Property Types: Non owner- occupied 1-4 family residential, condos and multi-family only.
Type of Mortgage: First Mortgages Only.
Loan-to-Value: Up to 50% of verified acquisition price
Personal Guarantees: Case-by-case basis
Prepayment Premium: None
Yield Maintenance: None
Geographic area: Palm Beach, Broward and Dade and counties in South Florida.
Application Fees: $300+.
Origination Fees: Starting at 3% (Includes all brokerage fees to all third parties). 1% paid at signing of the commitment letter and the remainder to be paid, generally, out of loan proceeds at closing.
Closing Timetable: We can close and fund within 24 hours after receiving an executed Term Sheet together with verifiable evidence of winning bid and payment of the Fees.
*NOTE: Terms and pricing are subject to change without notice depending on market conditions