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Direct Lender for Florida Residential Real Estate Investors
Equity Lending Solutions (ELS) is a direct private/hard money lending company for various types of investment properties throughout Florida: Single Family Homes, Condo, Condo-Hotel, Multifamily. At ELS we focus on tailoring the loans to each specific borrower type, we believe in transparency and with no surprises at the closing table! We provide Outstanding Customer Service for real estate investors.
- Term Sheet in less than 24 hours
- Easy and friendly underwriting
- No Pre Payment penalties
- Closing in record times (10 Days or less!)
- Online notarization available for remote closings
- We do Foreign Nationals
Requirements from the Borrower side:
- Loan Application (1003)
- Credit score above 620
- No Foreclosures or Bankruptcy in the last 3 years
- Last 3 bank statements
- Entity documents (Operating agreement, Certificate of good standing, Articles of incorporation)
Please note: We DO NOT consider vacant land or rural properties.
Property Geographic Area Details
Florida only - all metro areas
Loan Amounts
$90,000 to $5,000,000
Interest Rates
7.99% to 10%
Max Loan-To-Value
70.00%
Max Loan-To-Cost
80.00%
Origination Fees
1% to 3%
Loan Terms
6 months to 24 months
Lien Position
- 1st
Loan Purpose
- Investment Acquisition
- Investment Refinance
- Improve Subject Property
- Use Equity to Invest in Another Property
- Invest in a Business
- Business Working Capital
- Value Add Project
- Development Project
- Personal Use
Property Occupancy
- Vacant
- Tenant Occupied 100%
- Owner Occupied Commercial
Property Types and Loan Types
Collateral Types
- Residential Property
- Commercial Property
Property Types
- 2-4 Units Residential
- Commercial Condominium
- Condominium
- Mixed-Use
- Multifamily
- Portfolio of Commercial Properties
- Portfolio of Residential Properties
- Single Family Residence
Loan Types
- Private Money
- Hard Money
- Residential Bridge
- Residential Fix and Flip
- Residential Rehab and Rent
Purchase Loan
Max Loan-To-Purchase Price
80.00%Borrower Must Have Property Under Contract
yesWill Provide Proof of Funds Letter
yesWill Consider Lending on Purchase from Auction
noAllowed Source of Borrower’s Equity
- Own Cash
- Partner
- Equity in Subject Property
Rehab Value Add Loan
Experience Required
yesMinimum Number of Value-Add Projects Completed by Borrower
2Will Provide Funds for Renovation Costs
yesMax LTC for Renovation Costs
100.00%Interest Charged for Renovation Costs
Entire Amount of Total Project CostsTypical Number of Days for Funds Draw
6Maximum After Repair Value
65.00%Details and Requirements
Typical Closing Time (Days)
10Fastest Closing Time (Days)
3Works With
- Brokers
- Borrowers
Payment Structure
- Interest Only
Pre Payment Penalty
no
Will lend to a foreign national
yes
Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage
noWill Consider Collateralizing Multiple Properties in One Loan
yesWill Consider Equity Joint Venture
no
Borrower Entity Types Considered
- LLC
- Limited Partnership
- Corporation
Documentation Required
- Credit Report
- Bank Statements
- Loan Application
Personal Guaranty (Recourse) Required
AlwaysCredit Check Required
yesMinimum Credit Score Required
620Appraisal Required for Residential Property
AlwaysAppraisal Required for Commercial Property
AlwaysBroker Price Opinion (BPO) Accepted for Residential Property
SometimesBroker Price Opinion (BPO) Accepted for Commercial Property
SometimesFees
Fees which are mandatory for all new borrower clients
- Deposit
Fees which are charged upfront prior to loan closing
- Underwriting Fee
- Legal Fee
- Credit Report Fee
Equity Lending Solutions is the results of years of experience combined of our 3 partners in the lending business, we have been brokering deals since 2014 with many private lenders in the South Florida Market. We decided to take our business to the next level taking an approach from the borrowers side, to create a direct private lender that understand and satisfies investors needs.
Company Size (Number of Employees)
8
Year Established
2019
Office Locations
Haim Benarroch12000 Biscayne Blvd Suite 504, North Miami Beach, Florida 33181
Primary Capital Source
- Own Funds
- Friends & Family
Alternative Capital Sources
- Individual Investors
- Family Offices
- Asset Management Companies
Loan Structure for Majority of Loans
- Own Balance Sheet
Alternative Loan Structures
- Own Balance Sheet
- Table Funding with Capital Partner
Percentage of company’s lending business focused on private mortgage
100%
Company’s Other Business Activities Besides Private Mortgage Lending
- Commercial Mortgage Banking
- Residential Mortgage Banking
- Note Investing
Percentage of Loans Secured by Residential Property
105%
Percentage of Residential Property Loans Which are Fix and Flip
20%
Percentage of Residential Property Loans Which are Buy and Hold
80%
Total Number of Loans Funded to Date
55
Total Loan Volume Funded to Date
$30,000
2019 Number of Loans Funded
35
2019 Loan Volume Funded
$15,000,000
Haim Benarroch
President
Daniel graduated from international business at FIU with an MBA in finance from NSU, has been on the private lending business since 2016, helping borrowers and investors to fund their deals. Daniel has been a realtor as well focusing on the South Florida market, with ample knowledge of the market, Daniel is able to find comps and evaluate collateral in seconds.