Closed First Mortgages on two Auto related properties in Ohio

Gelt Financial closes a refinance on 2 auto related properties in Ohio, while the borrower was in Chapter 13.

“Marcy: Hi, it’s us again.
Jack: It’s us, this is Jack and Marcy again of Gelt Financial. We just closed another loan. Today’s the day of video press releases. Marcy, why don’t you tell everyone about the deal?
Marcy: Okay, so the other deal that we closed was located in Ohio. This particular borrower was an investor, and on all his properties, and most of his properties that he owned had to do with cars: car dealership, car repairs, car detailing, and anyway. So we lent him on two properties, and this gentleman also, borrower was in a chapter 13. So, we helped him get through that. So, this loan took care of a lot of different things for him.
Jack: Applaud for us. Not many lenders, commercial lenders are lending money to people in chapter 13s. We did it. We just closed the deal; I think Friday or something like that.
Marcy: We did. We cleaned everything out for him.
Jack: Cash out, auto related, a couple property blanket. He was actually in 13, and we closed the loan. What else?
Marcy: Nothing. It was a great deal. It was like we worked really hard to get through everything, and you know, worked with everyone, and we had tons of experience in doing that, and that is really huge in the marketplace.
Jack: I said it on a video we just made, but I’m going to say it again. I have a tremendous amount of respect for the real estate investor who takes risks. Sometimes they work out, but sometimes they don’t work out. When they don’t work out, they have to live with the consequences. This guy takes risks, he knows what he’s doing, he’s investing in a certain type of property, and it worked out for him. And I feel bad that banks have effectively shut out most people from traditional financing. You know, if you have a blip or anything the matter with it, and we all have blemishes, banks have effectively shut you out. So, you have to come to us. I’d rather, frankly, that these people get a better rate and go somewhere else.
Marcy: But we serve a purpose. I mean, we helped out two borrowers to get from step A to B, and once they get to B, they can go to C and they can get traditional financing.
Jack: I just want to clarify; we’re making two video press releases today. If anyone sees this, Marcy, they think we’ve made a total of two loans. Two loans today, we’ve done thousands and thousands of loans, and I don’t want anyone to see, say, “Oh, they’re in business, they make two loans.” But anyway, we’re always doing business. Check us out at geltfinancial.com, like the YouTube, like the video, hit the bell or the buzzer, you’ll be notified when we get other videos. Take care and have a great day. Thank you.”