Contact: R.E. Hurst
Phone: (414) 771-4171
As of October 2013, Bellwether Funding, LLC has begun underwriting and facilitating private loan placement for non-owner occupied 1 to 4 family rehab properties throughout Southeastern Wisconsin. These loans are for short term “fix and flip” rehab property development to experienced rehab borrowers.
Loan sizes from $50,000 to $150,000 are currently being offered to cover the cost of purchase and rehab of properties for up to 65% of completed property value at a rate of 12%, interest-only, up to a 6 month loan term. All loans are fully-secured with title-insured first mortgages, UCC filings and personal guarantees.
Once a loan is selected by the investor, the loan funds are wired to the title company for disbursement at closing, and a construction escrow is set up to release rehab funds upon inspection of the rehabber’s progress. Two points are paid to the investor at each loan closing they fund, and interest and payoff funds are sent to them directly for each loan.
Private investors have enjoyed an annual rate of return averaging 14% to 16%, depending upon the timing of loan payoffs and new loan closings. Investors retain full control of funds, and can choose the rehab loans they invest in.
To date, 15 loans have been funded for a total of $1,400,000 to numerous pre-screened rehab borrowers. Due to an increased demand for rehab funding, Bellwether Funding, LLC is seeking additional private loan investors interested in placing their funds into rehab loans.
Bellwether Funding, LLC has over 85 lenders to refinance commercial loans ranging from investment real estate to unique, special use, retail, office, and industrial properties. Bellwether Funding, LLC helps navigate companies that don’t qualify for bank financing, or have growth needs that exceed normal financing programs to welcomed solutions.
For further information, please contact Bill Frey at (262) 789-2795, [email protected] or go to www.bellwetherfunding.com