This video presents a real estate investor who purchased an office building using tax liens. Gelt Financial provided collateral-based financing without personal income verification or appraisal. The deal was closed quickly, and both the borrower and mortgage broker were pleased:
A super sophisticated real estate investor acquired a property, an office building, I think like 18- 19,000 square feet. It was sort of all small units, each unit was like 250-500 square feet, things like that, with a lot of tenants in the building. Acquired it through buying the tax liens, super sophisticated move. We provided him with, I think, $580,000 or $590,000 in financing. No personal income verification, no appraisal, no environmental. Approve the deal very quickly, closed it very quickly. Really, it was a collateral-based loan.
Mortgage broker brought us the deal, again moved very quickly. A lot of lenders the brokers struggled with, a lot of the lenders couldn’t wrap their hands around or head around their hands, whatever the expression is, because they couldn’t understand the complex structure of how he bought the property. Fairly recently Gelt closed the deal, and that’s what we do. We focus on collateral, you’re always going to speak to a decision-maker, and we, if we like the collateral, we’re going to move very quickly and got the deal closed. Again, no third-party reports, no real personal information, it was a collateral-based loan. Gelt crossed the finish line with it, very, very happy borrower. He thanked us profusely; the mortgage broker was super happy. That’s what we do at Gelt, that’s our bread and butter.
Check us out at geltfinancial.com. Don’t forget to like our YouTube channel, leave your notes, your comments, your questions, we’ll answer them, subscribe to it, hit the bell or the button, whatever. And when you have deals, give us a call, 561-221-0900. We want to make deals, we’re here to make deals. Take care and have a good day. Oh, one more thing, “When your bank says no, we say yes.” I always forget so many things, too many things in these videos. Take care.
Category: Deals Done
Tag: office building,tax liens
