Gelt has been helping commercial real estate and investment borrowers since 1989. When your bank says NO, we say YES!
“Marcy: Hi, Jack.
Jack: Hey, Michael and Marcy. I’m on the side here. Michael, tell everyone about the, I’m gonna call it the hoarder house that we just approved.
Michael: Valley Stream, New York, single-family home, owned free and clear, worth about $600,000. They got into a tax default and lost the property in a foreclosure sale for $250,000. The gentleman that bought it for $250,000 cash came to us to pull back out the $250,000. He’s renting it to the tenants that are in there, basically.
Jack: And it’s a hoarder house.
Michael: It’s a hoarder house, has an appraisal already.
Jack: Once we saw it, how long did it take us to approve it?
Michael: An hour, maybe.
Jack: Approve a deal like that, no appraisal. Do we get it from a mortgage broker?
Michael: Yes.
Jack: Got it from a mortgage broker. Marcy, you get a term sheet on that? How fast, close? Week? Two weeks?
Marcy: At the most. Just wait for title, that’s it.
Jack: So again, the point of making these videos is we want to get our message out there that this is our Strike Zone. Again, it’s a house, it’s below 50 LTV, good property. Obviously, there are problems, whatever the problems are, we feel bad for them, but we’re going to solve a need.
Michael: Well, the people get to stay in the home, and this guy gets a cash-out refi, so he’s not out of pocket cash. So, it’s good for everyone.
Jack: It’s within our Strike Zone. Michael, when we see a deal in our Strike Zone, how long does it take us to approve it?
Michael: 10 minutes.
Jack: That’s what happens when you come to Gelt. Call Marcy or Michael. Check us out at geltfinancial.com. Like, oh, like, I don’t know, YouTube, TikTok, Instagram, whatever the heck you’re seeing this. Like it, leave questions, and remember when your bank says no, we say yes.”
Category: Deals Done
