In this video, Jack discusses a closed deal in Chesapeake, Virginia. Wherein $220,000 is provided, first mortgage on a mixed-use property to a real estate investor with poor credit. The borrower had been rejected by banks and other lenders but found a solution with Gelt Financial. The Gelt specializes in non-bank and asset-based deals, catering to borrowers who need a second chance and have trouble securing financing elsewhere:
“Chesapeake, Virginia. Nothing glamorous about this deal, but it’s our bread and butter. That’s why I’m so excited to make this video on it. It’s a $220,000 first mortgage. A hard- working borrower, real estate investor, to be candid, with not the best credit, not bankable credit. He came to Gelt Financial. That’s what we do, very boring deals. It’s a mixed-use property. Again, nothing much to say about it. Came to us through a mortgage broker. We approved the deal quick; we closed the deal quick.
But what’s exciting about it to me is we helped this particular, this was a guy, but we helped this particular borrower out. You know, he needed cash out. He needed almost all cash out. And he was turned down by a bunch of people before, banks and non-bank lenders, because of the size of the loan, because of his credit, because of a lot of reasons. He didn’t verify income, but Gelt did it.
Gelt looked at the property, dealt loved the scenario. This is what we focus on: non-bank deals, asset-based deals. Borrowers who need a second chance, need a solution to a problem, and they can’t find that solution elsewhere. So that’s what we do. The mortgage broker brought it to us, and it was a smooth closing. Check us out at geltfinancial.com. Like the YouTube, like the TikTok, whatever this is. Leave your comments, we’ll answer your comments. We actively monitor them. Subscribe to our channel. And remember, “When your bank says no, we say yes.” We like boring deals. The boringer, the better. Take care and have a great day.”
Category: Deals Done
