12/31/2021
Recent Funding at 84% LTV on Land Value! π₯
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Client is a developer who owns a subdivision property.
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Client informed us that they needed funds to pay out their old mortgage and utilize new funds to further the development by paying for soft costs and city fees.
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We were able to utilize our vast network of private lenders to get the client 84% LTV on only the land value.
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Now days, it is extremely difficult to get past 65% on bare land, but because we have private investors who take time to understand the potential of certain developments, we were able to arrange this financing at 84% LTV.
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This allowed the client to avoid injecting cash, and instead use the equity out of the increased value of the property to get it ready for construction.
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Our lenders funds are repaid upon construction financing (which we will also facilitate) and the project is complete upon sale of the newly built units.
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The key to this financing was structuring this project in such a way that it helps our investors understand the goal of the development.
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It is what we do for all of our clients who develop properties, to ensure the project runs smoothly without running into road blocks.
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We hope everyone is enjoying their holidays. Letβs connect in 2022!
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Amit Sandhu, MBI, BA
π²: 604-706-1000
βοΈ: [email protected]
π: sandhucapital.ca