Cheap Interest Only Bridge Loans for 4th Quarter

Just got through putting this out there to my clients.

Segway Funding , Inc. currently has interest only bridge funds available at extremely cheap rates for Single Tennant Properties nationwide. The following outlines the guidelines of the loan program:
Loan Amount: $1-10 Million
Asset Type: Single Tennant (industrial, commercial, retail, health clubs, etc.)
Term: 1-5 years
Prepayment: None after 12 months
Recourse: Yes, full recourse (non-recourse is not available)
Construction Funds Available: No
LTV: 60-75% (to get to 75% would need to be national credit tenant)
Interest Rate: Around 6 – 7%. Variable with a floor and cap. Fixed may be available on a case-by-case basis.
Origination Fees: 3 pts
Closing Timeline: 30-45 Days
The $180 Million allocation for interest only bridge funds is for the fourth quarter only. The allocation won’t last long so if you have a loan you wish funded, you must get them to me immediately!

Below is a link to the article. Awesome program but clients will need to hurry.


Press Release: Cheap Bridge Interest Only Bridge Loans for Single Tennant Properties 4th Quarter Only

Hotel Construction Loans Now Available!!

I just got done sending out a press release on a construction loan program for hotel construction loans. The pricing isn't cheap but the money is there and available. 9% interest, 60 month loan, no prepay, post construction ramp ups, interest reserves. The bummer is the 8 points to close but that being said, it is still doable for most borrowers. If they want a hotel construction loan, this is about it. In the end, it is expensive but not as expensive as a partner! Plus, who wants to a partner meddling with their project anyway! This is what the press release said:

www.free-press-release.com/news-hotel-construction-loans-now-available-4-or-5-star-only-10-mm-1250549937.html'

Hotel Construction Loans Now Available – 4 or 5 Star Only, $10+mm
Segway Funding, Inc. is pleased to make available to its clients Hotel Construction Financing for both 4 and 5 star hotels. The hotel must have a major flag behind it (i.e. Marriot, Hyatt, etc.) and the loan amount needs to be above $10 million.
The loan pricing is expensive but appropriate in this lending environment. The Hotel loans are for up to five years (60 months) and are interest only with no prepay penalty. Interest rates will typically be set at 9% and loan origination fees will be 8 points – all of which are included in the loan amount. An initial period of interest reserves following construction is also provided. A partially developed hotel is okay as well.
We are anxious to hear about your hotel project. Please contact Charlie Crump at Segway Funding, Inc to discuss your loan. Phone: 801-273-7700 Email: ccrump@segwayfunding.com
Segway Funding, Inc. is a mortgage bank based out of Salt Lake City, Utah. We specialize in commercial lending utilizing non-conventional lending sources. For additional information please visit www.segwayfunding.com

I hope that I can get some clients hotel financing soon. please call me.

Charlie Crump
Segway Funding, Inc.

Nesox Email Marketer Rocks!

Hi All,

I have several key pieces of information that I need to get out to my large client lists. I tried NESOX email marketer and it was awesome. I had a quick question which I emailed to their tech support and they got right back to me with a quick and easy answer. I am now purchasing it for my small business. At $199 it is a great value and I highly recommend trying and buying it as I have.

Thanks,

Charlie Crump
President
Segway Funding, Inc.

Non Recourse Loan Available through 3rd Quarter 2009!

Hi All,

I need to get the word out on this non recourse loan program one of my hedge funds have available right now through the end of the third quarter 2009. Brokers welcome. Read the press release and let me know if you have something that fits in the boxes.

http://www.free-press-release.com/news/200907/1246653483.html

or

Press Release: Non-Recourse Commercial Loans available through 3rd Quarter 2009!

www.segwayfunding.com
www.distressedrealestatecapital.com

Let's get er done together. CAll me 801-273-7700

Distressed Real Estate Capital Available!

This is a copy of the press release I just issued. I am really excited about the distressed real estate programs that we have available and I hope that the way that I am getting the word out is the right way to do it. The website listed below isn't up and running yet. it will be by next week at this time. I need to write an article for the business enterprise and see if I can get it published. It would be nice in the sl tribune as well. I think that with the right borrowers, a lot of money could be made. The window is now however. Waiting won't do. Here is the press release:

"Segway Funding has been retained to locate, identify and originate private bridge loans and/or joint ventures for owners and developers of foreclosed and distressed real estate projects. These scenarios often involve properties where a new lien holder has recently purchased a loan note as part of a larger FDIC loan pool.

Frequently these notes are being repurchased by the original property developers but that is not a requirement for financing consideration. Over $1 Billion is to be deployed over the next 6 to 12 months working specifically on individual note purchases on distressed property acquisitions. The rates on these loans are excellent as well and include construction funds where applicable.

Opportunities might include busted condominium projects, townhome properties, commercial office buildings, industrial properties, retail projects, either completed or near completion. Improved commercial/industrial and even residential land will also be considered. For additional information, please go to www.distressedrealestatecapital.com .

If you feel that you have a loan and/or joint venture opportunity, give us a call at 801-273-7700 or email at info@segwayfunding.com. We will not consider any single-family residential (1-4 units) notes or properties.
Segway Funding, Inc. specializes in arranging short-term (1-72 month), hard money / private equity loans nationwide. If you would like to contact them about this press release or for general company information please contact Charlie Crump at 801-273-7700 or email at info@segwayfunding.com"

Charter School Loan Closed!

Segway Funding, Inc (www.segwayfunding.com) is pleased to announce the successful funding and subsequent loan closing for a Charter School Building. The developers need a construction loan to have the school ready by the end of summer for the 2009-10 school year. They have strong credit and the financials on the property were excellent but all the local banks that they had relationships with were unwilling to make the loan. Granted they liked the charter school loan but they simply don't have the money to lend right now - or they are unwilling to lend it. I suspect a little of both.

Because the various banks had strung out this developer, the charter school wasn't going to be started in time for completition for the coming school year. They had to get a loan in place within 30 days to make the construction deadlines. They called Segway Funding. We met with them in their offices the next day and and immediately set to work. We internally underwrote the loan in two days and ordered an appraisal from a charter school specialists we know. A few days later we had arranged the lender and the race to close began. It was an intense process but in the end the loan was successfully funded and closed. The rate was phenominal and the client was thrilled with the results.

It feels good to know that Segway Funding was able to arrange the charter school loan in shuch break-neck speed. The client is happy, the lender is happy, and most importantly, the kids will be happy in their new charter school building next school year.

Segway Funding specializes in difficult loans. We typically originate hard money bridge loans, private loans, hard money loans, bridge loans, hard money bridge loans, bridge equity, etc. Please feel free to contact charlie crump at 801-273-7700 or visit www.segwayfunding.com.

Some sweet loan programs I now have access to!

In working with some of my institutional lenders, I have been given access to some terrific new programs to cater to the loans that banks are no longer making. There are about three different programs that should be very useful right now to real estate professionals. These loans are very competitive and I am really excited to get them in front of the local bankers.

The first is a triple net construction loan on investment grade type commercial properties. They are willing to go up to 90% leverage on the loans. The loans can range in size from $10 million to $40 Million with the sweet spot primarily in the $25-35 Million range. I have a friend that does Walgreen's new construction but I don't know if they will meet the price range. I don't know if he needs them either. He mentioned that Zion's couldn't help him any longer.

Income producing properties is where I need to be located right now. We have a new program for post construction loans where the bank isn't renewing the loan for the leasing phase. The loan program is for 2 year loans and range in size from $5-40 Million. The ltv is between 50-75% but that might not be too difficult to given the value created following construction. Properties in default are ok as well but the yields will be higher (14-16%).

Lastly the 3rd program is for permanent loans. Hard money loans that are "permanent" means 5 to 7 years and the rates are around 7.5 to 8%. That's not bad at all. We are looking for portfolio product. Therefore the properties need to be in good shape. Given that it is hard money, these rates are amazing. I just need more deals! I'll start calling tomorrow.