Gelt Financial closes a rehab mortgage to finish a property in Birmingham, Alabama.
“Jack: Hello, this is Jack and Marcy at Gelt. Anyway, okay, new closing property in Birmingham, Alabama. Tell them about the deal, Marcy. They like you more than me.
Marcy: Yeah, that’s true. Okay, anyway, the deal is that there was a husband and wife who came to us. So anyway, they bought this property for a very nice price. She bought this house, started to do the rehab, and didn’t have enough money to complete it. So she came to us for the rest of the money for the rehab to complete the house. It was right outside Birmingham, and they’re like, you know, it’s a new trendy, up-and-coming area, and all the little houses that are like cottages are all being rehabbed, and she’s gonna sell it and flip it.
Jack: She has a history of doing these. She’s done a few in the neighborhood. In fact, that’s how she got the cash to do this one. And we lent her the money. I happened to speak to her; she told me she couldn’t get financing anywhere else. Spoke to Marcy; we closed the deal without an appraisal. We didn’t get an appraisal, did we?
Marcy: No, we did do an appraisal.
Jack: Oh, we had an appraisal, but beginning to finish, a week or two rehab, and her credit was not the best, and she had no other income. Very few lenders are doing these types of deals. So check us out at geltfinancial.com and ask for Marcy. What else did I leave off, Marcy?
Marcy: That’s it. We hope everyone’s all good in the world. The world’s crazy, but you know, life’s a journey.
Jack: You know what people say, the world’s crazy now. My theory is the world’s always crazy. I think every generation says this is the craziest, this is the worst. Every election, oh, this is the most important. The truth is when you’re going through it is. But anyway, have a great day. Check us out online at geltfinancial.com. Oh, don’t forget to like the YouTube, like the channel, and all that stuff. Have a great day, and more importantly, check us out. We’re looking to do business; we want to close loans, and we can move very quickly. Take care and have a great day.”
Category: Deals Done
