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Direct Lender for Michigan Real Estate Investors

We are asset-based lenders. We care more about the property and the deal than we do your credit score. Green Block ensures that all parties benefit and won’t approve funding unless it is win-win for us and our borrowers and company.

We only lend to business entities (LLCs or Corps), not individuals, on properties in Michigan. Properties must be non-owner occupied and unencumbered.

Property Geographic Area Details

We only lend in the state of Michigan, including the city of Detroit.

Loan Amounts

$10,000 to $2,500,000

Interest Rates

7.5% to 24.00%

Max Loan-To-Value

75.00%

Max Loan-To-Cost

75.00%

Origination Fees

1% to 3.5%

Loan Terms

0 months to 12 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Improve Subject Property
  • Use Equity to Invest in Another Property
  • Value Add Project

Property Occupancy

  • Vacant
  • Tenant Occupied 100%

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property

Property Types

  • 2-4 Units Residential
  • Commercial Condominium
  • Condominium
  • Multifamily
  • Single Family Residence
  • Student Housing

Loan Types

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

Specialty Loan Types

  • Residential Long-Term Rental
  • Transactional Funding

Purchase Loan

Max Loan-To-Purchase Price

75.00%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Subject Property
  • 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

75.00%

Interest Charged for Renovation Costs

Only on Funds Drawn

Typical Number of Days for Funds Draw

3

Maximum After Repair Value

70.00%

Details and Requirements

Typical Closing Time (Days)

7

Fastest Closing Time (Days)

3

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

  • LLC
  • Corporation

Documentation Required

  • Credit Report
  • Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

yes

Minimum Credit Score Required

600

Credit Check Description

We only require a soft-pull credit score

Appraisal Required for Residential Property

Sometimes

Appraisal Required for Commercial Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Sometimes

Broker Price Opinion (BPO) Accepted for Commercial Property

Never

Fees

Documents Fee

$500

Other Fee

Application fee $225

Fees which are mandatory for all new borrower clients

  • Documents Fee
  • Other Fee

Fees which are charged upfront prior to loan closing

  • Documents Fee
  • Other Fee

Fees which are paid to a third party company

  • Appraisal Fee
  • Inspection Fee
  • Title Fee

Legal Disclaimer

All guidelines subject to change at any time, without notice.

Additional Details

Appraisals not always required

Speedy, exceptional customer service is the heart of our business. We know all of our clients by name and will only fund a deal if it’s win-win for our clients and us. And because we were started by flippers, we understand and seek to solve the problems real estate investors face.

Simply put: our business exists to help yours grow.

We finance your investment. Have you applied for a loan at a big bank and been turned down? Most banks won’t loan to real estate investors for many reasons. Silly, isn’t it? Green Block thinks so. We loan to any investor with a strong business plan.

Get in. Get out. Get paid.TM

Year Established

2017

Associations

  • American Association of Private Lenders - Member

Office Locations

Green Block Inc.
2075 W. Stadium Blvd. #2950, Ann Arbor, MI 48106

Primary Capital Source

  • Own Funds

Alternative Capital Sources

  • Crowdfunding

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

7%

Percentage of Loans Secured by Residential Property

93%

Yoav Gilad

Chief Strategist

Certified Fund Manager

Marcia Gilad

President

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

$
%
months

At the end of the form you can enter the additional properties.

(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.

$
%
$
$
%

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

$
$
$
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$
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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.

$
%
$
$

how will the loan be paid off?

acres

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