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George, IV Loves Small Balance Multi-Family!

 

Highlights:

$630,000 First Mortgage

70% LTV

10.9% Interest Rate

60 month, Interest-Only - NO Prepayment Penalty

Story:

Our borrowers needed to act quickly in order to purchase this multi-family property. Pressed for time, and with their usual bank dragging their feet, they came to us asking for the impossible: A quick close, that wasn't expense.

This is where Blackburne & Sons is different from most other private-money lenders. While most private-money lenders can close quickly, they usually charge a boat load of points up front AND have a prepayment penalty on the back. Not us.

We NEVER have prepayment penalties on any of our loans. In addition, we make our money on servicing, so we don't gouge the borrower up front.

With our unique loan structure, we were able to give this borrower a loan to close on the property, while not eating into their equity nor locking them in for years.

Have a borrower that needs to close quickly, but plans to refinance later? Give us a call.

 

George Blackburne, IV

CA DRE #01873244

NMLS #382122

Blackburne & Sons Realty Capital Corp.

4811 Chippendale Drive, Suite 101

Sacramento, CA 95841


P: (916) 338-3232 Ext. 314

F: (916) 338-2328

georgeiv@blackburne.com


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George, IV has worked for Blackburne & Sons Realty Capital Corporation for over 10 years and is the son of the owner and founder, George Blackburne, III. Blackburne & Sons is a $50 million hard money commercial lending company. We syndicate the investment funds of about 900 accredited, private investors and use these funds to make permanent first mortgage loans on standing commercial properties. The company has been in business since 1980 and currently services approximately 250 commercial first mortgage loans totaling approximately $50 million.

www.BlackburneandSons.com

 
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