Billy Brown is a successful investor, syndicator commercial lending authority and is CCIM Candidate.
He and his wife own and sold several investment properties in the area. They just recently syndicated their first 82 unit apartment complex in Lexington, KY and acquired a Triple Net Lease Office complex in WI.
He is a sponsor and speaker of Seth Mosley’s local real estate meetup. Billy will be completing his CCIM designation in of 2020.
Billy Brown is a CCIM Candidate, and a successful Real Estate Investor himself. A native of Stillwater, OK Billy attended both Oklahoma State University and University of Tulsa on Golf Scholarship. He jokingly says he ran away from home in 2003 and moved to Nashville.
He and his wife own and sold several investment properties in the area. They just recently syndicated their first 82 unit apartment complex in Lexington, KY and are about to acquire a Triple Net Lease Office complex in WI.
He is a sponsor of the local real estate meetup for musicians and investors called Music and Money and has been featured on several podcasts on investing.
Billy will be completing his CCIM designation in spring of 2020 which will set him and his team apart among other lenders.
As an investor, you need a lender that can partner with you to help create and execute strategy to maximize profits, not just be an order taker.
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We have found there are 3 situations where it makes sense to outsource lending to us:
With our process of one underwrite based on the strategy we help set for you, we can quickly get through multiple lenders and match you with the right lender and terms to maximize your profits.
In our network on lending partners, we can fund nearly any loan request over $250k especially if it is secured by real estate. This includes apartments, hotels, mobile home parks, self storage, investment properties, restaurants, c-stores, SBA, etc
We also offer many different forms of bridge lending (aka hard money), depending on the asset and the location.
Non Recourse lending varies by asset class. For single family portfolio loans, we need a loan amount over $500k. For Fannie Mae and Freddie Mac agency debt, a loan amount of $1 MM and for all other commercial lending, over $3MM.
Yes, we have many different lending options to free up trapped equity and reset Fannie/Freddie lending. This includes both recourse and non recourse lending. Check out the podcast interview with The Real Estate Guys Here.
Continental USA
First, as active investors we think like you and can help translate that to our lenders. Second, our model is much different because of our ability to help with strategy and sequence debt among several different lenders simultaneously which we help manage for you. We in essence act like a lender, including fully underwriting the loan and credit memo (to a YES on your behalf), with all supporting documents, in house with our experienced credit team. The only exception is that we outsource the funding to one or more of our lending partners depending on the strategy. Keep in mind we do not pull credit until a lending partner is secured.
When we write up your loan request, we do it with an anticipated rate and terms that makes sense for your request from both the lending side but also return on investment, if applicable. Our lenders determine the terms, but we help identify terms that are acceptable to you on the front end, so we aren’t wasting time with lenders that can’t meet that request.
Yes, depending on the asset class we can do ground up construction and rehab loans.
This includes but is not limited to single family rentals, multi family apartments, self storage, assisted living, and commercial.
In this environment it is much easier to get these types of loans if the end result is stabilization and permanent lending vs a build to sell.
We earn a success fee on the amount of debt we secure for you based on the size and difficulty of the loan. Typically this is 1-5% of the loan amount with the larger percentage for the smaller and more difficult loans. We have a minimum fee of $5,000. You will know what that fee is before we begin. In many instances, that fee is part of the loan request, not in addition to. Also, with our experience and ability to help you negotiate, in many instances we can actually SAVE you money and/or equity which more than exceeds our fee.
No, if we can’t fund the loan within our network we don’t get paid. This makes us a partner with you on your request because we don’t get our fee until your loan closes. Our team will proactively reach out with updates on documents needed on a daily basis so you are aware of what items remain.
However, we do reserve the right to charge for our time if there is a chance a deal may not go through because of known issues.
Not only our lender list but the key decision makers at those institutions are our intellectual property. We have cultivated and established these key relationships over many years. We also know how to properly represent you to our trusted lending partners.
If many brokers or representatives are approaching the same lender and their team for the same request, the lender will get suspicious and you are out of a relationship to fund your project. That could blow up your deal. By shopping around, you may think you are saving money, but you actually be risking your deal.
If you are happy with the terms of your lender then there is no reason to engage with us. However, if the terms aren’t acceptable and you need help establishing a new relationship we would be glad to assist.
You owe us nothing
We don’t have minimum credit score requirements. Realistically you will need a 640 and above, and the higher the better with some lenders requiring scores over 700. We should also note that any negative history on your credit report such as late payments, foreclosures and bankruptcies will drastically reduce our chances of securing your funding.
On permanent lending, usually 20%-25% down, but each request is different and the loan must meet the debt servicing requirements of the lender. Another way to say this to determine the down payment, we work backwards from the debt servicing.
Yes! We love them! We are proud sponsors of The Real Estate Guys Radio program and events. We are also familiar with many other syndicator mentoring groups that help investors.
$250k minimum and no max on permanent lending. On bridge lending our max is $1.5MM
Our clients hire us to represent them and the loan request for a new lending relationship we do a full and complete underwrite. We try and answer all the questions the underwriter will have on the front end so the approval process is smooth and easy. In most existing banking relationships, an updated PFS and tax return is all that is sometimes needed. However, with any new relationship, we want to present you and your request in the best light possible through the eyes of the underwriter. With the increased regulations on lending, every “t” must be crossed and “I” dotted. When our trusted lender receives your request and supporting documentation, there should be complete clarity in who you are and the request needed.
The approval process can take as long or as short as you want. You are in complete control. When we send out the initial needs list, our team can typically underwrite the package within a couple of business days IF WE GET 100% OF THE DOCUMENTS BACK. 99% is not 100%. Also keep in mind there will be many follow up questions if you are an active investor or business owner to help clarify the picture and the ask.
Also remember, the appraisal will NOT be ordered until there is an approval and signed term sheet. That is part of the process that cannot be controlled and can take 2-3 weeks. Be sure to allow ample time for your due diligence to account for this unknown.
On most ground up or repositioned assets, yes
Not all our loans require studies, but we do suggest at a minimum an Environmental 1
Schedule a call with our team here.
