Street Access, Electricity, Gas, Water, Communication
Current Market Value
Mortgage 1 Balance
Equity Cash Out
Equity Cash Out Purpose
Improve Subject Property
Equity Cash Out Details
300,000 Cash out will be used for Due Diligence. On-The_Run Convenience Store has signed a 20 year ground Lease LOI
Will additional properties be collateralized?
Other Borrower Entity
Borrower Credit Rating
Hi, my name is Michael Knapp and I am the CEO for OneClick Commercial Funding here in Irvine, CA. I have a deal I would like to run by you and see if it would be of interest to you. The sponsor is a businessman owns a strip mall at 651 HWY #30, St. George, LA 70776. He has built a strip mall near it, and a Best Western has committed also and is looking to add a Convenience Store/Gas Station on land next to it. He has a signed Letter of Interest from On The Run Convenience Stores to enter into a long term 20 year land lease. He needs some short term cash to finish some due diligence on the land where the station would go. He would like to do a cash out bridge loan on the property of $300k. He owes $400k on the property and it appraises for over $3.2 Million. The appraisal was performed by Colliers. The total loan would be for $700k plus closing costs. He has over a 750 credit score and has a net worth over $10 Million. He is seeking a 12 month Bridge Loan. Please let me know if you would be of interest and I will send over all necessary documents. Please feel free to call me to discuss @ 602-741-4520.