Gelt Financial closes a refinance on 2 small multi family properties in CT.
“Jack: Hello, this is Jack and Marcy at Gelt Financial again, super excited. We’re always excited here, but we just closed the deal in Connecticut. Marcy, tell us a little bit about the deal.
Marcy: It was a two-property deal. One of the properties was a four-plex, and the other property was a two-plex. The area was very charming, and—
Jack: Can I raise my hand and say something?
Marcy: Sure.
Jack: My wife has me trained now. When I want to speak, I have to raise my hand like I’m in third grade. After 30 years of marriage, this is what I have to do, but it keeps her happy. I raised my hand when I will speak. Anyway, you know what I like? I like all our borrowers, but this lady and all of them are hard-working, down-to-earth real estate investors. They take risks. Sometimes real estate investors make a lot of money, and when they make a lot of money, everyone looks at them, and some people in the government, you know, begrudgingly. But they take a lot of risks, and they should be rewarded for their risks. This particular lady takes risks; she owns a bunch of properties. Okay, Marcy, no, because it’s true.
Marcy: No, because it’s true. I mean, she was just really upfront, told us the whole situation. We actually lent her money on these two properties with cash out.
Jack: So, we did a blanket loan on two properties, cash out for a third property.
Marcy: For a third property, to do rehab on a third property that we didn’t even have a loan on. And we gave her cash out to repair one of the units. You know what we were able to do for her, and no other bank would do it for her. You know, the banks have shut out a lot of people. And you know what? We saved her, making the property be able to get fixed, and she can now rent out that other unit and continue her cash flow.
Jack: And she’s grateful. Yeah, because her bank said no, we say yes. That should be our tagline. When your bank says no, we say yes. Remember, check us out online at geltfinancial.com. Remember, like the YouTube, the video, like our channel, like Marcy, like me, leave comments, forward it. What else? I don’t know. Anyway, we’re here. We’re doing business. We do business in about 40 states, and we’re actively closing deals. Corona has not stopped us. Take care and have a great day.”
Category: Deals Done
