We seem to be in one of the most interesting and exciting times for real estate investors in recent history . There appears to be both motivated sellers and motivated buyers creating an incredible intersection of opportunity . For many , the ability and scale at which they can take advantage of this phase of the market is all about access to smart leverage and funding for their deals .
We recently connected with Jared Reyes , vice president of sales at Center Street Lending , to gain insight on their success , what funding is currently available , and how investors can position themselves to make the most of the landscape .
Center Street Lending
Center Street Lending ( CSL ) is a private lender specializing in Valueadd Residential investment properties . The company is coming up on 13 years in business , during which they ’ ve originated over $ 3 billion in residential investment property loans .
Stephen Couig founded Center Street Lending after obtaining his MBA at Dartmouth , and stints working with Morgan Stanley and Troon Golf , as well as operating his own residential development company .
He not only saw a big opportunity to fill the void in the businesspurpose lending space , but he also aspired to help solve the lack of housing inventory .
As Vice President Jared Reyes says , there was , and remains , a shortage of good housing . He adds that either enough hasn ’ t been built , or what is on the market needs improvement and upgrading .
Investment Property Loans
Both directly , and through their network of mortgage brokers , Center Street Lending provides several types of loans for investors .
Center Street Lending provides several types of loans for investors .
Programs include :
• Fix and flip loans
• Rental property loans
• Bridge loans
• Groundup construction loans
• Longterm rental property loans
Bridge loans provide investors with fast capital when they need to quickly close on new acquisitions . These loans are available on SFRs , up to fourunit properties , townhomes , and condos , including for foreign nationals .
Rental property loans are available for refinance or purchase , for short and longterm rental operators .
Center Street ’ s Strength : Fix and Flip Loans
Center Street Lending ’ s portfolio Fix & Flip loan program offers up to 85 % LTV on the purchase price , or 100 % of rehab costs .
Flexible loan terms range from six to 18 months . Funding is available in at least 18 states across the U . S .
Loan amounts start at $ 100K , with closings in as little as 1014 business days .
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