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Direct Hard Money Lender for Real Estate Investors
Pimlico Capital is a direct lender, not a broker, for real estate investors in the Mid-Atlantic and New York metro area. We offer several different short-term loan products: Fix & Flip, Rentals, Bridge Loans, and Commercial Real Estate.
- No formal appraisals for short-term loans
We do in-house valuations and drive to all subject properties
- Short-Term Loans offered in the DMV Region plus Philadelphia, New Jersey and New York City
- Long-Term Rental Loans offered Nationwide
Property Geographic Area Details
We lend in 6 states: DC, MD, NJ, NY, PA, VA
$55,000 to $6,000,000
7.95% to 10.95%
1.5% to 3%
2 months to 360 months
- Investment Acquisition
- Investment Refinance
- Improve Subject Property
- Tenant Occupied 100%
Property Types and Loan Types
- Residential Property
- Commercial Property
- 2-4 Units Residential
- Auto Dealership
- Auto Repair
- Car Wash
- Commercial Land
- Gas Station
- Mobile Home Park
- Parking Lot
- Portfolio of Residential Properties
- RV Park
- Residential Land
- Single Family Residence
- Storage Facility
- Private Money
- Hard Money
- Residential Bridge
- Residential Fix and Flip
- Residential Rehab and Rent
- Residential Long-Term Rental
Land Types Considered
- Residential Land
- Multifamily Land
- Industrial Land
- Office Land
- Retail Land
- Hospitality Land
- Covered Land
Will Consider Land That is NOT Entitledno
Max LTV for Land50%
Max LTC for Land Acquisition50%
Max Loan-To-Purchase Price90%
Borrower Must Have Property Under Contractyes
Will Provide Proof of Funds Letteryes
Will Consider Lending on Purchase from Auctionyes
Allowed Source of Borrower’s Equity
- Own Cash
- Equity in Subject Property
- Equity in Another Investment Property
- Seller Financing
Rehab Value Add Loan
Minimum Number of Value-Add Projects Completed by Borrower0
Will Provide Funds for Renovation Costsyes
Max LTC for Renovation Costs100%
Typical Number of Days for Funds Draw1
Maximum After Repair Value70.00%
Residential Long-Term Rental
Minimum Loan Amount$55,000
Maximum Loan Amount$2,000,000
Minimum Interest Rate5.125%
Maximum Interest Rate6.5%
Minimum Origination Fee1.5%
Maximum Origination Fee3%
Minimum Loan Term360 months
Maximum Loan Term360 months
Minimum Debt Service Coverage Ratio1.20
Will Lend on a Portfolio of RentalsYes
Minimum Number of Properties2
Maximum Number of Properties20
Minimum Property Value$100,000
Details and Requirements
Typical Closing Time (Days)7
Fastest Closing Time (Days)2
Pre Payment Penalty
yesNo prepayment penalty for short-term loans. 30-year rental loans will have a step-down pre-pay penalty if paid off in less than 3 years.
Will lend to a foreign national
Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgageno
Will Consider Collateralizing Multiple Properties in One Loanyes
Will Consider Equity Joint Venture
Borrower Entity Types Considered
- Limited Partnership
- Credit Report
- Loan Application
Personal Guaranty (Recourse) RequiredAlways
Credit Check Requiredyes
Minimum Credit Score Required550
Credit Check DescriptionFor short-term loans we are very flexible when it comes to credit scores. For long-term rental loans, the minimum score is 680.
Appraisal Required for Residential PropertyNever
Appraisal Required for Commercial PropertyNever
Broker Price Opinion (BPO) Accepted for Residential PropertyNever
Broker Price Opinion (BPO) Accepted for Commercial PropertyNever
Fees which are mandatory for all new borrower clients
- Legal Fee
- Renovation or Construction Funds Draw Fee
Fees which are charged upfront prior to loan closing
- Processing Fee
Borrowers typically only pay a legal fee prior to closing. Some other small fees may be charged on certain deals. For rehab projects, we charge a fee per draw.
When it comes to flipping properties, the traditional route can be difficult and slow. With Pimlico, the experience is different. We believe in simple and straight forward loans, such as our Fix & Flip loan, which gives you an “all in one” program to help you acquire, rehab and quickly sell a property.
With our Fix & Flip loans, you’ll not only receive acquisition funds, you’ll also have access to construction funds for the approved construction budget. We understand your need to finish the project and get the property back on the market quickly. With our streamlined online draw request process, you’ll receive the funds for your draws quickly.
- For Individuals and Business Entities
- Maximum LTV 70% (Finished Value)
- Minimum Down Payment 10%
- Personal Guaranty
Standard Loan Terms
- Interest Rates Starting at 7.95%
- $0 Processing Fee
- $0 Underwriting Fee
- 6 to 18 Months Loan Terms
LONG-TERM RENTAL LOANS
If you need long term funding for your residential rental properties, we have you covered. Our online application can be filled out in a couple of minutes and we will immediately provide you with several different rate options for your refi. Rates start as low as 5.125% and we can offer up to 80% LTV of the appraised value. From start to finish, most of our loans close in about 3 weeks. See why Pimlico Refinance is the number 1 choice for real estate investors.
- Single Family Home to Quadplex
- Up to 80% LTV of appraised value
- Get up to four different rate options
Pimlico Capital is a hard money lender based in Baltimore, Maryland. We are a direct lender (not a broker) and leading provider of hard money financing in all 50 states.
Our team has real estate investor experience and knows what it takes to be successful in today’s competitive market. We work hard to build long lasting relationships by earning our clients’ trust, which is achieved through our transparent and straightforward lending process.
While there is no shortage of capital options for today’s real estate investor, if you want reliability, professionalism, and ultimately a superior lending experience, please contact us. We look forward to introducing you to the next level in real estate investment lending. Our pre-approved process is easy and painless.
Company Size (Number of Employees)
Office Locations600 Reisterstown Road, Suite 602, Baltimore, MD 21208
Primary Capital Source
- Own Funds
Loan Structure for Majority of Loans
- Own Balance Sheet
Percentage of company’s lending business focused on private mortgage
Company’s Other Business Activities Besides Private Mortgage Lending
- Commercial Mortgage Brokerage
- Commercial Mortgage Banking
- Residential Real Estate Investing
Percentage of Loans Secured by Commercial Property
Percentage of Loans Secured by Residential Property
Percentage of Residential Property Loans Which are Fix and Flip
Percentage of Residential Property Loans Which are Buy and Hold
Percentage of Loans Secured by Land
Percentage of Commercial Property Loans Which are Ground-Up Construction
Percentage of Residential Property Loans Which are Ground-Up Construction
Percentage of Residential Property Loans Which are Long-Term Rental (5+ years)
Total Number of Loans Funded to Date
Total Loan Volume Funded to Date
2017 Number of Loans Funded
2017 Loan Volume Funded
2018 Number of Loans Funded
2018 Loan Volume Funded
2019 Number of Loans Funded
2019 Loan Volume Funded
Managing DirectorCPA, CFE, CIRA
Director of Real Estate FinanceCPA
Mr. Yehuda is Pimlico Capital’s Director of Real Estate Finance and a member of the company’s Loan Committee. On a daily basis, he manages the financial operations of the company and manages day-to-day operations. Mr. Yehuda is an experienced strategic advisor to the real estate finance industry, specializing in retail, multi-family residential and single-family residential properties. He is a current investor of commercial properties and retail centers throughout the Baltimore-Columbia-Towson MSA. Prior to joining Pimlico Capital, Mr. Yehuda spent several years as an auditor at PricewaterhouseCoopers with their private company services division, specializing in manufacturing, retail, insurance and medical industries. Mr. Yehuda is a Certified Public Accountant in the state of Maryland and a member of the AIPCA.
Director of OperationsCPA
Mr. Lurman is Pimlico Capital’s Senior Underwriter and Director of Operations. On a daily basis, he prepares the underwriting reports for the Loan Committee and ensures that the internal operations of the company run smoothly. Mr. Lurman has extensive experience in real estate finance. Prior to joining Pimlico Capital, he spent five years as the Financial Director at The Mount Washington Group, a property owner and asset management company. Mr. Lurman specialized in underwriting various investment projects including single-family homes, multi-family units, and commercial properties. He was involved in the purchase of 1,000+ units for the firm. He maintained many bank relationships and facilitated multiple refinances on projects ranging from single-family homes to properties containing 500 units. Mr. Lurman holds a Bachelor of Arts degree from Thomas Edison State University and an accounting degree from the Community College of Baltimore County. He is a Certified Public Accountant in the state of Maryland.
VP of Business Development
Mr. Teichman is Pimlico Capital’s VP of Business Development. On a daily basis, he manages the flow of inquiries from real estate investors seeking non-bank funding. He is responsible for vetting the various business opportunities and providing recommendations to Management for financial participation. Mr. Teichman has extensive experience with real estate management, having worked in a family owned real estate investment firm. In addition to his sales and marketing expertise, Mr. Teichman also has substantive work experience in tax, accounting and operations from previous places of employment. Mr. Teichman holds a Bachelors in Talmudic Law from Ner Israel Rabbinical College. He is a committed community volunteer who has devoted his time to assisting seriously ill children and their families and at-risk teens.
VP of Business Development
Mr. Rosendorff is Pimlico Capital’s VP of Business Development. On a daily basis, he manages the flow of inquiries from real estate investors seeking non-bank funding. He is responsible for vetting the various business opportunities and providing recommendations to Management for financial participation. Prior to joining Pimlico Capital, Mr. Rosendorff spent four years as the Vice President of Operations of Key Investment Group. He specialized in technology customization to meet the company’s unique needs and on continuous improvement of business processes. Mr. Rosendorff also has extensive sales experience from prior places of employment. In his free time, Mr. Rosendorff enjoys outdoor pursuits, reading and carpentry.
Senior VP of OperationsMBA, SHRM-CP
Ms. Weinstock is Pimlico Capital’s Senior VP of Operations. She has day-to-day responsibility for back office operations such as Human Resources and website content. She also assists with marketing and sales initiatives on behalf of the firm. Ms. Weinstock brings with her substantive experience in operations, having previously worked as the Director, Business Operations and Operations Director at two prominent nonprofit organizations. She also has over 18 years of experience with financial analysis, fraud investigation’ and auditing from previous places of employment. Ms. Weinstock has a Bachelor’s degree from Washington University in St. Louis in addition to a Master’s of Business Administration from Georgetown University. She is also a Certified Human Resources professional through the Society for Human Resources Management (SHRM). Ms. Weinstock is a Friedman Fellowship recipient of the Darrell D. Friedman Institute for Professional Development, one of the agencies of The Associated. She is also active in various community service initiatives throughout Baltimore, including working with seniors to provide comfort through animal interaction.
I love working with Victor and the Pimlico, the team was great! Victor really helped me to get the job done under budget and on time right after finishing the project we had an offer within two weeks. I am looking for my next property and looking forward to working with Pimlico again.
The whole team at Pimlico Group was absolutely amazing. Very fast process, no fine print to uncover, and they were very hands on. I was a first time borrower; therefore Victor and his team took the time to walk me through the process piece by piece. They were very responsive. I look forward to closing many more deals with this group.
Pimlico team is the best lender in my opinion. I have worked with them on several deals and they have exceeded my expectations. They have the best team, that understands the life and challenges of Real Estate investors. I would recommend them to other investors.
The Gatira Family
A job well done us a team work a very positive attitude and a hard working people they put their best for your benefit and I will do it 100 times my deal with them.
I LOVE working with Pimlico Group! Working with Aron and Victor has opened up a new line of dialogue and assistance to me with Real Estate Investing! I find them very approachable and easy to talk to. They make sure we steer clear of BAD deals and are on track to make money! Their honesty and integrity make working with them tremendous! Love men of their word and Aron and Victor are two men of their word!
I have been doing Real Estate Investing for 25 years and a Lender that will work with me is one of the most critical needs of my business. Victor and Aron were always available if i needed to discuss a problem or needed to restructure parts of the loan. Though I did not always get everything I wanted Victor and Aron worked with me to find a solution that worked for both of us. I was able to complete my project ahead of time and made a profit. Thank you for your service and I look forward to working with you again in the future.
Aron and Victor were great to work with on my rehab loan in Baltimore City. Professional, quick, and efficient the whole time. Were able to fund within a couple weeks and worked with me through a refinance process that took longer than expected. Great guys, great business.
As a first time flipper, Pimlico provided me with great service. Victor's mentorship was invaluable. He was very transparent and the knowledge I gained through the process was priceless. Most importantly, the leaders of Pimlico (Victor and Aron) are honest people. I would recommend Pimlico to anyone looking for hard money lender.
Pimlico Group is Number one in Baltimore Hard Money, closing is a snap with this lender Victor and Aron extremely reliable and honest. They are the best.
quick turn over, very friendly, great to do business with. Highly recommended
Victor and Aron are a dream team to work with. I won’t use anyone else.
Our Minimum Loan Amount Is
What We Do
- Residential Investment Properties
- Bridge, Rehab, Flip, Long-Term Rental
- Flip LTP up to 90% + 100% Rehab Costs
- 10% Cash Required for Purchase
- LTV up to 70% for Short-Term Loans
- NO Owner-Occupied Homes
- NO 100% Financing or Gap Loans
- NO Land Loans
- NO Ground-Up Construction
- NO Rural Areas