Big banks like to drag their feet. Especially with most banks still working remotely, it can be a struggle to get a loan on time. This has been a huge struggle when trying to meet your 1031 deadline. This is where a reliable bridge lender comes into play.
Topics: Brokers, NNN, 1031X, Alternative Financing, Bridge lending, Bridge Loan, Quick Close, CRE
AMARILLO, TX - Helvetica Group identified a $2,291,000 single tenant NNN investment property in Amarillo, Texas for a private investor. The tenant was Longhorn Steakhouse which was on a long term, NNN, corporate guaranteed ground lease providing the investor with a stable, low risk return on their investment. The investor recently sold a multifamily property that required substantial hands-on management: he needed to quickly satisfy a 1031 exchange to defer a substantial tax liability. Helvetica was able to search nationwide to locate a suitable replacement property and organize the due diligence and closing within a short period of time. The investor doubled his income and reduced his management time by almost 100%.
Later, Helvetica arranged to refinance the property with a $900,000 cash out bank loan allowing the investor to purchase an additional property and diversify his holdings.
Topics: Deals, Loans, Brokers, NNN, Small Balance
Topics: Deals, Loans, Brokers, NNN, Small Balance
