Gelt Financial, LLC ("Gelt") is a Private commercial real estate lender and investor satisfying its client's financial needs and goals since 1989. Gelt's robust commercial product offerings are available across the country to US Citizens and Foreign Nationals. We focus on loans between $100,000 and $3 Million. We also have a portfolio product that we offer to real estate investors and commercial property owners. We offer preferred equity and recapitalizations to exist commercial real estate partnerships. "When your bank says No, we say YES"!
Call today to see how we can help you: 561-221-0900 or visit us at Geltfinancial.com 💥 #commerciallending #bridgemortgages #hardmoneyloans #commercialmortgages #nonbanklending #privatelending
What would a loan look like for a Investment 6 family rental unit for about 650-700k ? What would investor need for down payments and what would terms/rates be roughly? Also how long does a deal take to close and what kind of commission would it pay ?
So would you be ok in being 2nd position? especially as a partner? it would also be savvy to have a sponsor/ guarantor on board for borrowers, who collects a fee post closing in an operating or jv agreement. this would help you guys get a lot more deals!
Every deal is looked at individually based on a variety of factors. But we maybe as a partner. We have done this before and if we like the deal would do it. Please send us the deal at Loans@Geltfinancial.com
It really works great when done right. It’s the first cousin to something in our market referred to a stretch first. With the CRE climate we are heading into, right product at the right time. I’ll see what I have. Michael, what size parameters?
I need a loan product like this. I have an investment property where the seller wants a lot of money, but it's able to cashflow really well (about 2,000 a month net), but don't have a lender yet.
thanks for the suggestion. We have made video's on financing properties purchased at auction and it is on our You tube channel. If there is something you think we did not cover in that, please let us know and we will make an updated one. We are not sure what you mean by Subto lending? Please clarify. Keep the ideas coming, we love it.
I’ll be happy to explain. Subto is when you are assuming the mortgage. For example let’s say a seller wants to sell their property but doesn’t have enough equity to sell. ARV: 300K and the seller owes 290K after closing and agents fees the seller will have to bring 20K just to closing. So how subto comes in to play instead of applying for a mortgage just to replace there atheir mortgage we just assume it and pay them the difference at closing which will be $10,000.
So you guys can lend on Subto deals with low entry fees like $10K - 90K on brand new rehab properties that are moving ready for a tenant or a tenant buyer and also you guys can JV these types of deals if you don’t feel comfortable being a second position.
I would love to hear you guys feedback on everything I wrote and if you could do a video on this topic, it’s a high demand for lenders that can lend on these types of deals.
I am a student right now studying Real Estate and Finance. What advice would you give to someone like me who wants to get into a good mortgage brokerage when I graduate? What should I be doing now to prepare?
Learn, Learn and keep learning is the best advise we could give. We have hade several educational videos for mortgage brokers. You may want to watch them. Good luck, it can be a fantastic career. We are here to help.
We don’t have a cap on broker points or fees as long as the borrowers agree to pay them and it’s documented. We recommend that brokers keep their fees fair and inline with the market. We recommend you speak with Gelf Management about this, seems like a misunderstanding.
Hi I am a Broker who is newly introduced to Gelt Financial I Like and agree with your business model. Now when most lenders and banks are pulling back and out of the market, which only makes it decline faster . I applaud you for braving it and pivoting your focus on providing "rescue Capital" and help people get back on track. We have to , because banks or government programs will not save anyone. We need to help each other back up again. That is something I believe in as well, You have gained a new crusader ....Me! ; )
Excellent question. It all comes down to the economics of the deal. You may want to compare what a deal would look like with no prepayments penalty or a shorter one and compare them.
Hello, I am curious to understand why exactly his income couldn't be verified? How is he doing accounting for a business? I guess technically it's not against any law to keep your business account or payment system private. But you folks helped him because he had proof of cash right?
I want to find a non-QM lender that offers up to 50% LTV cash-out refinance with no/low seasoning of ownership using its own appraisal rather than the lower purchase price. The property was purchased with 100% creative finance.
Your RU-vid channel is amazing! The content you create is instructive and informative, The production quality, creativity, and passion you put into your videos are evident in every frame. you are keeping me hooked with every video. Keep up the fantastic work, you're doing a fantastic job!
We do not offer Fannie and Freddie products. We focus on investment and commercial real estate form 50k to 3 Million. Please visit us at www.Geltfinancial.com
thanks so much, we are so grateful for you trying it. Its very hard to quote out a deal with it as every deal is a little different. For that we need the personal touch. thanks again and we hope fine real value in it.
Thank you for this video Jack! I'm a recent graduate that is doing their best to become financially literate. So your explanation really helped me understand the concept of notes where Google couldn't 😂
@Gelt Financial, LLC here's a good one. A commercial property was purchased with a 100% loan using a Mortgage lease assignment financing. The lender was a state-charted bank and the property was purchased for $199K. Two companies that were owned by the same owner were used, one purchased the property, and the other leased the property to operate a business. The purchase closed in August of 2022 and 8 months later the borrower refinanced the initial loan with a construction mortgage for $1.2M with a 7.48% rate and a 6-year term. The increase in property value was only because the property was approved for special use as a dispensary and the borrower had plans drafted to build out the property as a dispensary. The borrower only paid for the closing costs and the architect for the plans. I have never seen anything like this on a commercial property, let alone 100% financing on a dispensary or even a 7.48% rate on a property that was going to be used by a cannabis business. I have no clue how this deal closed but what I do know is that it's generating $15K per day of net profit in an area that has an average household income that's 15% less than the national average and a population that's just over 42K within a 5-mile radius. The property is still only worth 200k in my opinion.
