Archive for April, 2014

BUYING NOTES AT A RECORD PACE

Saturday, April 5th, 2014

Our main business is buying promissory Notes secured by 1st T.D. positions on income property in Southern California.  Being at this since 1979 makes us one of the oldest companies in the business.  Having 35 years of real world experience doing something you are good at makes you an expert.  Our expertise comes after many thousands of Note purchases and right now we are at a record pace.

With our ability to buy loans quickly and efficiently it has made us a sought after firm in the business.  When speaking to other note buying firms, make sure you distinguish that you are dealing directly with the source of funds.  We hear from brokers all the time that want to refer us deals and in turn the broker wants a fee or commission.  Cutting out fees and commissions by contacting us directly is highly recommended.  We prefer to deal directly with the Note seller.  Not to say that brokers are not welcome, to the contrary, we do welcome brokers to contact us and obtain a top dollar quote on buying their clients Note, we will honor any commission agreement you may have with your note seller.  We collateralize or buy partial interests in loans as well.

Our other expertise is arranging financing on apartment buildings and multi-tenant commercial properties in Southern California.  We are connected with the wholesale departments of many major lenders and have a long standing relationship and knowhow to get the refinance closed.  Recently we closed a FNMA $3,000,000.00 refinance loan with a very low fixed 10 year rate of only 4.2% and just charged 1/2 point as a brokerage fee.

We also on occasion fund apartment loans ourselves.  In February we made a 1st Trust Deed loan on 11 units in Cudahy, CA, we only took 7 business days from start to finish at a competitive rate of only 7% interest and charged only 3 points.  Buildings in certain areas are restricted by the large lenders, as well as less than favorable credit borrowers, however we consider each loan on a case by case basis and make our own decisions without outside influence.

We would love to hear from you if we can be of service.