Different investors have different goals, and Lima One’s goal is to make sure we do everything we can to help our clients reach the investment goals they’ve set.
Lima One recently worked with a California-based investor looking to leverage his 12-property rental portfolio for a cash-out refinance. One of our broker consultants worked with this investor and the broker who referred him.
Considering the size of the loan and the fact 12 properties were under one blanket loan, Lima One’s broker consultant was able to close the loan quickly. This investor said he had a great experience working with Lima One and has since reached out regarding other deal scenarios. The broker continues to bring more clients to Lima One as well, confident that Lima One will protect his interests while providing excellent financing solutions to real estate investors looking for financing.
Maximum Cash at Closing
Working through our Rental30 loan program, our broker consultant helped this client maximize his cash-out/equity so he could reinvest in additional properties. Lima One was able to close the loan at 70% LTV, which gave the borrower about $450K cash at closing.
This borrower was fortunate that most of his properties appraised over what he estimated, which gave him more flexibility when it came to LTV and rate. As a result, he was able to get the cash/equity he was looking for at a lower LTV which allowed him to get a much better interest rate on the 30-year loan.