Direct Lender for Property Investors in South Carolina, Kentucky and Central Florida

Regardless of your of experience, Coastal Equity Group has a loan program suitable for you. While Novices can access funds at reasonable terms, return Borrowers can leverage past successes with lower rates and higher loan to value ratios. Our Loans are based on the actual asset. The asset is appraised on an after repair value by a BPO and appraisal. We lend up to 75% of the lower number.

We will evaluate the project and experience of the investor and see if it fits our company’s guidelines. The investor can be pre-approved in as little as one day, and closing can occur in as little as five. After someone is pre-approved, they can access and fully complete the application online and upload all necessary paperwork.

Please note: we do not offer loans for owner-occupied homes.

Property Geographic Area Details

South Carolina, Kentucky, and Central Florida (Tampa & Orlando metro areas)

Loan Amounts

$50,000 to $1,000,000

Interest Rates

10% to 14%

Max Loan-To-Value

75.00%

Max Loan-To-Cost

90.00%

Origination Fees

2% to 4%

Loan Terms

6 months to 12 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Improve Subject Property
  • Value Add Project
  • Development Project

Property Occupancy

  • Vacant

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property

Property Types

  • 2-4 Units Residential
  • Commercial Land
  • Multifamily
  • Office
  • Single Family Residence

Loan Types

  • Private Money
  • Hard Money
  • Commercial Bridge
  • Residential Bridge
  • Commercial Property Value Add
  • Residential Fix and Flip
  • Residential Rehab and Rent
  • Residential Ground-Up Construction

Land Loan

Land Types Considered

  • Residential Land
  • Multifamily Land
  • Office Land
  • Retail Land

Will Consider Land That is NOT Entitled

no

Max LTV for Land

50.00%

Max LTC for Land Acquisition

50.00%

Purchase Loan

Max Loan-To-Purchase Price

90.00%

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
  • Equity in Another Investment Property

Rehab Value Add Loan

Experience Required

no

Minimum Number of Value-Add Projects Completed by Borrower

0

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

4

Maximum After Repair Value

75.00%

Construction Loan

Development Experience Required

no

Minimum Number of Ground-Up Construction Projects Completed by Borrower

5

Max LTC for Ground-Up Construction Costs

70.00%

Interest Charged for Construction Costs

Entire Amount of Total Project Costs

Will Lend on Partially Completed Construction Projects

no

Details and Requirements

Typical Closing Time (Days)

7

Fastest Closing Time (Days)

4

Works With

  • 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

no

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered

  • LLC
  • Limited Partnership
  • Corporation

Documentation Required

  • Credit Report
  • Tax Returns
  • Bank Statements
  • Financial Statements
  • Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

yes

Minimum Credit Score Required

600

Appraisal Required for Residential Property

Always

Appraisal Required for Commercial Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Sometimes

Broker Price Opinion (BPO) Accepted for Commercial Property

Sometimes

Fees

Processing Fee

Legal Fee

Renovation Construction Draw Fee

150

Fees which are paid to a third party company

  • Legal Fee
  • Appraisal Fee
  • Title Fee

We are Coastal Equity Group — A professionally managed boutique investment firm. We provide real estate based loans to Borrowers in need of non-traditional financing. Because we are small and private, we can move quickly through the underwriting process and structure loans more creatively than conventional banks. Although based in Charleston, South Carolina, Coastal Equity Group also lends in Kentucky, and Florida.

Year Established

2018

Office Locations

Coastal Equity Group
15 State Street, Charleston, South Carolina 29401

Primary Capital Source

  • Private Equity Funds

Alternative Capital Sources

  • Own Funds
  • Individual Investors

Loan Structure for Majority of Loans

  • Own Balance Sheet

Percentage of company’s lending business focused on private mortgage

100%

Percentage of Loans Secured by Commercial Property

25%

Percentage of Loans Secured by Residential Property

75%

Percentage of Residential Property Loans Which are Fix and Flip

100%

Robert Baker

Fund Manager

Robert “Alex” Baker, better known as Alex, graduated with a B.S. In Business Administration with a major in Finance. He went on to complete his M.B.A in Finance at the University of Louisville. Although his focus of interest has been in finance, he has maintained a love of entrepreneurship and has pursued his self-made career in investment strategies with a focus on residential and commercial real estate. His real estate career flourished in the fix and flip sector renovating houses in his early twenties performing the labor himself. He has since rehabbed dozens of homes while building an experienced team and strategic partnerships along the way. He found his niche in the lending sector in commercial loans to funds real estate and commercial investment projects. He has started and ran several successful companies in the real estate industry and has also developed strategic alliances nationwide. His education and experience in real estate and finance have afforded him the ability to seek qualified and secure investments with a return that would excite any savvy investor. He believes that it is through relationship building and sharing opportunities that a successful pathway for the future is achieved. One of his favorite quotes that he lives by day-to-day is, “Think Big, Work Smart, and Hustle Hard” – Kimron Corion.

Leah McMillan

Administrator

Leah McMillan graduated with a B.A. in Communication Studies from Clemson University in 2016 and is currently pursuing her Masters in Business Administration from Anderson University. Her education and drive have led her to the opportunity of being a part of the successful private fund, Coastal Equity Group.

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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Requested loan amount divided by the purchase price + rehab/construction costs

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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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Requested loan amount divided by the purchase price + rehab/construction costs

%

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?

acres

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