Direct Lender for DMV Real Estate Investors

Clear Sky Financial is a true asset-based hard money lender for residential property investors in the Washington DC metro area. Here are some of the loan types we consider and benefits of working with us:

Fix & Flip / Buy & Hold / Bridge Loans / Cross Collateral / Transactional Funding

  • CSF Lends Strictly on After-Repair Value
  • No Credit Check, No Application, No Income Check
  • Pre Draws for Rehab Projects
  • Utilize our Contractor Network
  • 1-page term sheet – sign and return
  • Close in 24 hours provided title work is done
  • Transactional Funding available for wholesalers

Property Geographic Area Details

Washington DC, Maryland, Virginia, North Carolina

Loan Amounts

$100,000 to $1,500,000

Interest Rates

12% to 15%

Max Loan-To-Value

70.00%

Max Loan-To-Cost

90.00%

Origination Fees

3% to 5%

Loan Terms

6 months to 12 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property

Property Occupancy

  • Vacant

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property

Property Types

  • 2-4 Units Residential
  • Condominium
  • Industrial
  • Mobile Home Park
  • Multifamily
  • Single Family Residence

Loan Types

  • Private Money
  • Hard Money
  • Residential Bridge
  • Residential Fix and Flip
  • Residential Rehab and Rent

Specialty Loan Types

  • Note Purchase

Purchase Loan

Max Loan-To-Purchase Price

85.00%

Borrower Must Have Property Under Contract

yes

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

yes

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Subject Property
  • Equity in Another Investment Property
  • Equity in Primary Residence
  • Seller Financing
  • Gap Lender
  • Crowdfunding
  • Family

Rehab Value Add Loan

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

1

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

100.00%

Interest Charged for Renovation Costs

Entire Amount of Total Project Costs

Typical Number of Days for Funds Draw

1

Maximum After Repair Value

70.00%

Details and Requirements

Typical Closing Time (Days)

10

Fastest Closing Time (Days)

1

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only

Pre Payment Penalty

no

Will lend to a foreign national

no

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

no

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered

  • Individual(s)
  • LLC
  • Limited Partnership
  • Trust
  • Corporation
  • Self-Directed IRA

Appraisal Required for Residential Property

Never

Appraisal Required for Commercial Property

Always Before Funding

Broker Price Opinion (BPO) Accepted for Residential Property

Always

Broker Price Opinion (BPO) Accepted for Commercial Property

Always

Fees

Processing Fee

Documents Fee

Renovation Construction Draw Fee

$250 per draw + inspection

Fix/Flip or Renovate

  • 12% to 16% Interest Rate
  •  2 to 5 Points
  • Up to 75% ARV
  • 80% to 90% LTC
  • Renovation / Draw Fees
  • Loan Term up to 1 year

Buy/Hold

  • 12% to 15% Interest Rate
  •  2 to 4 Points
  • 70% to 75% ARV
  • 80% to 90% LTC
  • Loan Term up to 1 year

Bridge/Multi-Collateral

  • 12% to 15% Interest Rate
  •  2 to 5 Points
  • Up to 70% LTV
  • Multiple Asset Types
  • Loan Term up to 6 months

Clear Sky Financial (CSF) was established in 2013.  CSF is a true asset based lender in Washington DC, MD, VA and parts of NC. CSF has many repeat borrowers. The founders of CSF have fixed/flipped over 350 houses since 2005.  Borrowers like using CSF because of the extensive knowledge in the fix/flip space.  CSF does PRE-DRAWS on their Fix/Flip/Renovate product.  This is very popular!!

Company Size (Number of Employees)

5

Year Established

2013

Associations

  • American Association of Private Lenders

Office Locations

9406 Jackson Street, Burke, Virginia 22015

Primary Capital Source

  • Own Funds
  • Debt Fund We Manage
  • Individual Investors
  • Bank Credit Line
  • Friends & Family

Alternative Capital Sources

  • Own Funds
  • Bank Credit Line

Loan Structure for Majority of Loans

  • Own Balance Sheet

Alternative Loan Structures

  • Own Balance Sheet
  • Table Funding with Bank

Percentage of company’s lending business focused on private mortgage

100%

Company’s Other Business Activities Besides Private Mortgage Lending

  • Note Investing
  • Commercial Real Estate Investing
  • Residential Real Estate Investing
  • Real Estate Development

Percentage of Loans Secured by Commercial Property

10%

Percentage of Loans Secured by Residential Property

95%

Percentage of Residential Property Loans Which are Fix and Flip

90%

Percentage of Residential Property Loans Which are Buy and Hold

10%

Percentage of Residential Property Loans Which are Owner-Occupied

2%

Percentage of Residential Property Loans Which are Ground-Up Construction

10%

Total Loan Volume Funded to Date

$100,000,000

2017 Number of Loans Funded

72

2017 Loan Volume Funded

$15,500,000

2018 Number of Loans Funded

64

2018 Loan Volume Funded

$18,000,000

2019 Number of Loans Funded

76

2019 Loan Volume Funded

$20,000,000

Charlie Einsmann

Charlie has more than 20 years of real estate experience, and is particularly skilled in structuring and negotiating distress sales. Along with Sam Jacknin, Charlie co-founded Clear Sky Properties LLC in 2005 and Clear Sky Financial LLC in 2013. He primarily takes the lead for networking, sourcing, and negotiating new deals. Charlie is a long time board member of Catholics for Housing, is a licensed Realtor in Virginia, and has a B.S. in Electrical Engineering from Devry Institute of Technology.

Sam Jacknin

Sam has more than 25 years of experience in a broad range of real estate endeavors, particularly with distressed property sales and development. Along with Charlie Einsmann, Sam co-founded Clear Sky Properties LLC in 2005 and Clear Sky Financial LLC in 2013. He primarily takes the lead for loan closing and administration duties for CSF while he and Charlie also collaborate on prospective deals. Sam also owns and is principal broker for Green Dot Realty, is a licensed Realtor in Virginia, D.C., and Maryland. He earned his B.S. in Anthropology and M.B.A. in Finance and Marketing from George Mason University.

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

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(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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how will the loan be paid off?

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