Uncategorized Archives — Page 3 of 8 — Houlihan & O'Malley Commercial Services

$225,000 Second Mortgage – Mixed-Use Building- Bronx, NY

Rich Salinaro / November 19, 2019 / Leave a Comment

$225,000 Second Mortgage – Mixed-Use Building – Bronx, NY

H&O Capital Funding was contacted by an investor who needed some quick funds for another transaction. He knew that he had some equity in his mixed-use property with two apartments and a store in the Morrisania section of the Bronx. H&O Capital was able to close the deal is less than two weeks, allowing the investor close on his other deal without a hitch.

H&O Capital Funding has helped countless real estate buyers, sellers, lessees and lessors achieve their goals. Our legacy is unwavering commitment to the communities we serve. Houlihan & O’Malley Commercial Real Estate Services specializes in four distinct, yet overlapping, areas of business: Commercial Brokerage services, Private Mortgage services, Appraisal Services and Advisory services.

For more information on loans that we offer, visit our website.

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$300,000 Second Mortgage – YMCA – Tarrytown, NY

Rich Salinaro / November 18, 2019 / Leave a Comment

$300,000 Second Mortgage – YMCA – Tarrytown, NY

H&O Capital Funding recently closed a second mortgage for the YMCA of Tarrytown. The Y had to make some much needed repairs and needed a quick cash infusion to get it done. H&O Capital was able to get it done in under two weeks, allowing for the YMCA to make the needed repairs before the winter sets in.

For more information on loans that we offer, visit our website.

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$300,000 First Mortgage – Vacant Land – Yonkers, NY

Rich Salinaro / September 20, 2019 / Leave a Comment

$300,000 First Mortgage – Vacant Land – Yonkers, NY

H&O Capital Funding recently closed a loan on a vacant parcel of land in SouthEast Yonkers, just north of the Bronx. The borrower approached H&O needing a small loan to help him complete his $1m+ purchase, where he plans to build a retail store to take advantage of its busy location. While it took some time to iron out the particulars, the deal closed in a flurry of activity as the sellers were leaving the country for an extended period of time and needed to close in under a week. H&O Capital was able to get it done on just two days notice, making for one happy borrower (and seller!).

For more information on loans that we offer, visit our website.

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Conventional Lender Loan Process vs. Hard Money Lender Loan Process

Brenda Sigurdson / September 17, 2019 / Leave a Comment

If you are ready to invest in Commercial Real Estate, you need to look into the best way to finance your investment. On the debt side, there are typically only two options available, a Conventional Mortgage or a Hard Money Loan. Below you will find information on the process of these options.

Applying for a conventional mortgage can be a slow and arduous process requiring much documentation. At the other extreme, you might be able to secure a hard-money loan in days without producing copious financial information, especially with a strong asset because they are lending on the property equity and not the borrower’s credentials.

Conventional Mortgage

In general, banks and lenders will require you to meet these commercial real estate loan qualifications:

Up to five years of tax returns.
Your books, records and financial reports for up to the last five years or since inception, whichever is shorter. Will include off-balance-sheet financing, such as leases.
Projected cash flows for the life of the loan.
The credit reports of the business and all owners/partners.
Your state certification as a corporation or limited liability entity.
A third-party appraisal of the property.
A business plan that explains how the property will be

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$1,700,000 Blanket First & Second Mortgage – Mixed-Use Property & Development Piece – Westfield, NJ

Rich Salinaro / August 2, 2019 / Leave a Comment

$1,700,000 Blanket First & Second Mortgage – Mixed-Use Property & Development Piece – Westfield, NJ

The borrower in this deal is a developer who has done a lot of work in Northeast New Jersey. Having hit a few roadblocks with his conversion of a vacant property from office to residential use, he needed some funds to pursue the issue with the town. A vacant property without the approvals for redevelopment isn’t very marketable and most lenders were stymied trying to underwrite the deal. H&O Capital, however, was able to determine that there was enough equity behind a first mortgage on a mixed-use property the borrower owned in the same area. H&O did the deal as a blanket to make it work. There were a number of moving pieces here, but H&O was still able to get the deal closed in just three weeks.

For more information …

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$500,000 First Mortgage – Single-Family Investment – Milford, CT

Rich Salinaro / July 31, 2019 / Leave a Comment

$500,000 First Mortgage – Single-Family Investment – Milford, CT

This deal was an odd one from the start. The borrower came to H&O Capital Funding looking for $500,000 on a $1,300,000 purchase price, with the seller holding the balance as a second mortgage. Because the seller illegally re-configured the home to a four-family home, both he and the borrower/buyer understood that conventional financing was out of the question. Not only was the home non-conforming with the CO, the buyer was trying to do a Reverse 1031, which just added another wrinkle to the deal. While things took some ironing out, the deal was still able to close in just three weeks.

For more information on loans that we offer, visit our website.

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$550,000 First Mortgage – Mixed-Use Building – Brooklyn, NY

Rich Salinaro / July 26, 2019 / Leave a Comment

$550,000 First Mortgage – Mixed-Use Building – Brooklyn, NY

In this deal, the borrower came to H&O Capital Funding needing some money to finish up some renovations he was doing to his property in the Clinton Hill . The property consisted of two apartments and one commercial space that was divided into 3-4 smaller spaces for separate tenants. With plenty of value in the property, the loan was a no-brainer for H&O Capital Funding. Despite a few legal hurdles, the loan closed in under three weeks.

For more information on loans that we offer, visit our website.

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$350,000 First Mortgage – Two-Family Investment – Yonkers, NY

Rich Salinaro / July 25, 2019 / Leave a Comment

$350,000 First Mortgage – Two-Family Investment – Yonkers, NY

H&O Capital Funding was approached by a friend of the firm for a quick loan on a two-family investment property in the Woodlawn section of Yonkers, NY. The borrower inherited the property from his parents and keeps the property free and clear, only using the equity in this deal to help pay off some other debts. Both the borrower and H&O Capital investors were happy to get the deal done quickly as it closed in just two weeks

For more information on loans that we offer, visit our website.

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$1,900,000 Blanket Mortgage – Mixed-Use Development & Three-Family Investment Home – Multiple Locations

Rich Salinaro / April 8, 2019 / Leave a Comment

$1,900,000 Blanket Mortgage – Mixed-Use Development & Three-Family Investment Home – Multiple Locations

One of H&O Capital Funding’s repeat borrowers reached out in the midst of the shut down around the tri-state area due to Covid-19. The borrower had been working on the construction of a mixed-use property with two stores and eight apartments in Bayonne, NJ. The property was a single story retail property when he purchased it in 2016. Over the past 3.5 years the borrower applied for, and was granted, permits to add 3 stories to the building with 8 apartments in total. He received a loan at the time of purchase, but the note came due and the lender was no longer lending due to Covid. In a bit of a panic, the investor reached out to H&O Capital to secure a short term loan to allow him to finish the project and stabilize the building before he switched to a conventional loan. Because the as-is value of the project was a bit low to support the loan, the borrower used a property he owns in Yonkers, NY as additional collateral to get the deal done. Now the borrower has the time and funds to …

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$350,000 First Mortgage – Mixed-use property – North Bergen, NJ

Rich Salinaro / April 5, 2019 / Leave a Comment

$350,000 First Mortgage – Mixed-use property – North Bergen, NJ

H&O Capital Funding was approached by this borrower looking to borrow some funds to help cover some of his costs on another deal he was working on. The biggest issue was the timing as he had to close in under two weeks so that he didn’t lost the other deal he was pursuing. H&O Capital Funding stepped up to get the borrower cash he needed to close on his other deal in just over a week.

For more information on loans that we offer, visit our website.

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Uncategorized

$225,000 Second Mortgage – Mixed-Use Building- Bronx, NY

$300,000 Second Mortgage – YMCA – Tarrytown, NY

$300,000 First Mortgage – Vacant Land – Yonkers, NY

Conventional Lender Loan Process vs. Hard Money Lender Loan Process

Conventional Mortgage

$1,700,000 Blanket First & Second Mortgage – Mixed-Use Property & Development Piece – Westfield, NJ

$500,000 First Mortgage – Single-Family Investment – Milford, CT

$550,000 First Mortgage – Mixed-Use Building – Brooklyn, NY

$350,000 First Mortgage – Two-Family Investment – Yonkers, NY

$1,900,000 Blanket Mortgage – Mixed-Use Development & Three-Family Investment Home – Multiple Locations

$350,000 First Mortgage – Mixed-use property – North Bergen, NJ

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