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

Loan Amounts

$55,000 to $6,000,000

Interest Rates

7.95% to 10.95%

Max Loan-To-Value

80%

Max Loan-To-Cost

100%

Origination Fees

1.5% to 3%

Loan Terms

2 months to 360 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property

Property Occupancy

  • Vacant
  • Tenant Occupied 100%

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property

Property Types

  • 2-4 Units Residential
  • Auto Dealership
  • Auto Repair
  • Car Wash
  • Commercial Land
  • Condominium
  • Gas Station
  • Healthcare
  • Hotel
  • Industrial
  • Mixed-Use
  • Mobile Home Park
  • Motel
  • Multifamily
  • Office
  • Parking Lot
  • Portfolio of Residential Properties
  • RV Park
  • Residential Land
  • Retail
  • Single Family Residence
  • Storage Facility

Loan Types

  • Private Money
  • Hard Money
  • Residential Bridge
  • Residential Fix and Flip
  • Residential Rehab and Rent
  • Residential Long-Term Rental

Land Loan

Land Types Considered

  • Residential Land
  • Multifamily Land
  • Industrial Land
  • Office Land
  • Retail Land
  • Hospitality Land
  • Covered Land

Will Consider Land That is NOT Entitled

no

Max LTV for Land

50%

Max LTC for Land Acquisition

50%

Purchase Loan

Most of our clients contribute 10% cash to the purchase, but we may require more cash down from borrowers with no experience, or borrowers that have poor credit.

Max Loan-To-Purchase Price

90%

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
  • Seller Financing
  • Family

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%

Typical Number of Days for Funds Draw

1

Maximum After Repair Value

70.00%

Residential Long-Term Rental

680+ credit score required for long-term rental loans

Minimum Loan Amount

$55,000

Maximum Loan Amount

$2,000,000

Minimum Interest Rate

5.125%

Maximum Interest Rate

6.5%

Minimum Origination Fee

1.5%

Maximum Origination Fee

3%

Minimum Loan Term

360 months

Maximum Loan Term

360 months

Maximum Loan-To-Value

80%

Maximum Loan-To-Purchase

80%

Minimum Debt Service Coverage Ratio

1.20

Will Lend on a Portfolio of Rentals

Yes

Minimum Number of Properties

2

Maximum Number of Properties

20

Minimum Property Value

$100,000

Details and Requirements

Typical Closing Time (Days)

7

Fastest Closing Time (Days)

2

Works With

  • Brokers
  • Borrowers

Pre Payment Penalty

yes

No 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

yes

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

Documentation Required

  • Credit Report
  • Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

yes

Minimum Credit Score Required

550

Credit Check Description

For 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 Property

Never

Appraisal Required for Commercial Property

Never

Broker Price Opinion (BPO) Accepted for Residential Property

Never

Broker Price Opinion (BPO) Accepted for Commercial Property

Never

Fees

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

Additional Details

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.

SHORT-TERM LOANS

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.

Loan Requirements

  • 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)

8

Year Established

2016

Office Locations

600 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

90%

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

50%

Percentage of Loans Secured by Residential Property

50%

Percentage of Residential Property Loans Which are Fix and Flip

60%

Percentage of Residential Property Loans Which are Buy and Hold

40%

Percentage of Loans Secured by Land

5%

Percentage of Commercial Property Loans Which are Ground-Up Construction

10%

Percentage of Residential Property Loans Which are Ground-Up Construction

10%

Percentage of Residential Property Loans Which are Long-Term Rental (5+ years)

20%

Total Number of Loans Funded to Date

700

Total Loan Volume Funded to Date

$120,000,000

2017 Number of Loans Funded

120

2017 Loan Volume Funded

$30,000,000

2018 Number of Loans Funded

160

2018 Loan Volume Funded

$40,000,000

2019 Number of Loans Funded

200

2019 Loan Volume Funded

$59,999,998

Victor Lipnitsky

Managing Director

CPA, CFE, CIRA

Aron Yehuda

Director of Real Estate Finance

CPA

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.

Yossi Lurman

Director of Operations

CPA

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.

Zack Teichman

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.

Yair Rosendorff

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.

Abby Weinstock

Senior VP of Operations

MBA, 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.

Russell W.

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.

Keara H.

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.

Aaron E.

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!

Kathryn O.

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.

Rapahel C.

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.

Dereck H.

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.

Ronnie H.

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.

Gary K.

quick turn over, very friendly, great to do business with. Highly recommended

Amit B.

Victor and Aron are a dream team to work with. I won’t use anyone else.

MickTK

Before You Contact Us

Our Minimum Loan Amount Is

$55,000

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

Not Available

  • NO Owner-Occupied Homes
  • NO 100% Financing or Gap Loans
  • NO Land Loans
  • NO Ground-Up Construction
  • NO Rural Areas

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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$
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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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