As the spring weather continues in Colorado it appears that the Denver market has finally hit bottom and is starting to rebound. This is great news for anyone involved in the real estate industry. Here is a link to the full Denver Post article that talks about the increasing spring sales in CO. If you are in need of con conventional financing for your spring purchases or refinances. Give us a call 303..459..6061 or visit: www.cohardmoney.com
http://www.denverpost.com/business/ci_20429074/denver-housing-market-second-nation-quick-sales
I have said for a while now to watch out for brokers/lenders requiring upfront fees prior to closing. This recent article on 9 news in Denver highlights this concern. The mortgage broker is accused of bilking customers out of over 500k in fees without ever providing a loan: http://www.9news.com/news/local/article/239680/346/Woman-indicted-in-mortgage-case
As always, there are no upfront fees required by Fairview prior to closing. We have an a+ rating with the BBB and close loans we commit on quickly. For more tips on private lending please visit: www.fairviewlending.com. As always with any financial transaction, buyer beware.
To learn more about private lending in Denver and Colorado please visit: www.COHardMoney.com or call us at 303..459.6061
I hope everyone has had a healthy and prosperous 2011. Fairview has closed hundreds of private/hard money loans this year both in Denver and throughout Colorado (below is just a small sample). Since Fairview is privately funded we are able to close loans quickly. All underwriting is done in house and we lend our own funds.
Due to our closing speed, there is still time to close your loan in 2011. Our process is simple. Call (303.459..6061) or e-mail me with details or fill out our one page application at www.cohardmoney.com .
There are no upfront fees or appraisals required. We can handle all credit situations since we underwrite on the property. We’ll give you an honest yes or no in 24 hours or less. Below are just a few of the hundreds of loan transactions we have funded.
. Denver, CO $250,000, warehouse. Borrower owned property free and
clear, he had cosigned on a loan with an associate and the transaction went south (took borrowers credit below 500), borrower needed funds quickly to take care of back taxes and credit card bills. Fairview funded a 5 year loan with no prepayment
. Englewood, CO $125,000, retail/office, Borrower needed working
capital funds quickly to buy merchandise for the holiday. Her current bank was unable to respond quick enough. Fairview closed the loan in under 10 days and gave the borrower a 3 year loan with no prepayment
. Evergreen, CO 205,000, single family home with acreage, borrower
owned a cabin on acreage near Evergreen. Borrower needed cash quickly to take care of other financial obligations. Borrower had credit in the low 400s. Fairview funded the 3 year loan in under a week
. Fort Collins, CO 175,000, single family investment townhome.
Borrower had negotiated a settlement with the IRS and needed funds quickly in order to obtain the discount. Fairview funded to loan and the borrower saved over 50,000 in fees/penalties
Above are just a few of the many hard money transactions we have closed in Colorado recently. We are able to fund on both investment single family homes as well as commercial properties. I look forward to assisting
you and your clients with their funding needs. Have a great Holiday
Season.
Regards,
Glen
Recent Denver Hard Money / Colorado hard money closings October 2011
Fairview is pleased to announce the closing of the following hard money transactions in Denver. Fairview is a private lender specializing in private loans both in Denver and throughout Colorado. We are true hard money lenders and lend on the value of the property as opposed to the borrower’s credit. We are able to lend on both commercial properties and non owner single family homes. Fairview is the leader in Denver hard money and Colorado hard money transactions. We have an A+ rating with the BBB and there are never any upfront fees required prior to closing. For more information on our Colorado hard money and Denver hard money products please visit www.COHardMoney.com or call 303..816.7357
1) Broomfield, CO townhome $95,000
a. Investment single family home
b. Borrower had credit score below 500
c. Owned property free and clear
d. Needed cash quickly to satisfy a judgment
2) Colorado Springs, CO office/retail $125,000
a. Borrower had spent substantial cash remodeling property in order to retenant it
b. Borrower needed cash to pay down high interest credit card debt
c. Needed a 3 year loan in order to allow ample time to stabilize property and get a conventional loan
3) Englewood, CO non-owner single family home $145,000
a. Borrower bought house and paid all cash
b. Needed funds for another project
c. Self employed so showed limited taxable income
4) Aurora, CO condo $20,000
a. Borrower bought condo in cash 3 months prior for use as a rental
b. Credit low 500’s
c. Needed cash for other business needs
d. Unable to obtain conventional financing due to credit
For additional information please visit www.cohardmoney.com or www.fairviewlending.com or call us at 303.459..6061
Fairview Lending is pleased to announce the recent closing of hard money commercial and residential loans both in Denver and throughout Colorado. Fairview Lending is the leader in Denver private loans and Colorado private lending. As always we only lend our own money and there are never any upfront fees. We are located in the Denver metro and can inspect and close your transaction quickly. For more information on our recent closings please visit: http://www.cohardmoney.com/closings.php or call us at 303..459..6061 to discuss your transaction
Fairview is a direct Colorado hard money lender. We fund both residential and commercial loans. Below are a couple recent closings.
1) investment Single Family Home: Aurora, CO. Borrower had inherited the property. He owned it free and clear. Had some prior dings on credit due to lates, etc… Borrower needed 55k cash to put into his business. He was unable to get a conventional loan due to credit score. Borrower had tried getting a loan with countless other folks before locating Fairview. We committed, inspected the property, and closed the loan in a week and a half.
2) Commercial office Building: Denver, CO. Borrower in construction business. Borrower currently behind on taxes on building and also needed money to pay off creditor. Borrower able to negotiate a discount with creditor (40%) if he could pay cash within two weeks. Fairview was able to close the loan in less than two weeks, saving the borrower 40% on an outstanding lien. No appraisal was required since Fairview physically inspected the property and then put the transaction into closing. There were no fees to the borrower prior to closing. The borrower also received cash out at closing to take care of other business needs and provide working capital
As you can see from above, Fairview is in the business of making loans. We strictly lend our own money and are locally based. We can underwrite and close a transaction in under two weeks with no appraisals (we physically do a property inspection to determine value). For more information please call 303..459.6061 to discuss a loan scenario or visit us at www.cohardmoney.com to fill out our 2 minute no obligation loan scenario submission form
Colorado’s leading local private lender
Hope each of you is off to a prosperous 2011. I’m commonly asked what makes Fairview different than other lenders. Below are some of the highlights:
• No upfront fees or appraisals (we do an inspection free of charge)
• Quick closings on both residential (No primary residence; strictly investment properties) and commercial properties
• Local Lender only lending our own money; we provide honest answers quickly
• Ability to close transactions throughout the state of Colorado
• One page loan application
• Hard money/private money loans is all we do
• No Credit score minimum; we are underwriting on the property as opposed to the borrower
• When you call Fairview, you will talk directly to the decision makers.
• A+ rating with the BBB
Fairview has recently closed a number of hard money loans throughout Colorado during 2011. Below is just a small sample
• 185k Commercial Warehouse, Denver: Borrower leased building to medical marijuana operation
• 100k Agricultural Land, Montrose: Borrower owned free and clear, needed quick cash to take care of outstanding late payments with other creditors
• 25k Investment Condo, Aurora: Borrower lived out of stats, had free and clear investment condo in Aurora, needed funds for another property
• 125k Investment townhome, Fort Collins: Borrower paid cash for property, needed funds quickly to settle with the IRS
• 200k Single family home, Red Feather Lakes: Borrower needed cash for working capital for another business, self employed with credit dings
For more details please call me at 303..459.6061 or visit our website at www.cohardmoney.com.
Fairview is still closing deals. We have ample capital to quickly fund transactions on both residential properties (only investment, no primary residences) as well as commercial properties. Recently Fairview has closed a number of private loans throughout the state of Colorado. Below is just a small sample of our recent closings:
1) Aurora, Colorado: Borrower had bought property in cash, owned free and clear, needed cash for another transaction, had a bankruptcy 3 years earlier and credit was impaired, closed the loan in less than 10 days
2) Fort Lupton, Colorado: Borrower constructed investment property with their own cash, needed cash to take care of unpaid bills, unable to get conventional loan since self employed.
3) Denver, Colorado: borrower had an investment property that was used as a rental, needed a mid term solution (2-5 years) to allow them to catch up with outstanding IRS issues and straighten out credit
4) Fort Collins, CO: Borrower needed working capital for business. Business not performing to potential prior years due to economy.
Above are just a few of the hundreds of hard money / private money loans we have closed in Denver and throughout Colorado. Fairview is different than other hard money lenders; we only lend our own money and there are no upfront fees. We provide honest answers quickly and fast closings
There has been a recent uproar regarding agricultural exemptions. Should a developer who is unable to develop their platted subdivision be eligible for a agricultural tax exemption? A number of recent articles in the Denver Post have discussed this issue (Link to Denver Post Articles ). In my opinion the way to solve allot of the agricultural tax exemption abuse is to make the parameters more stringent. The following changes would solve the majority of problems: 1) make a minimum lot size for agricultural exemption (lets say 40 acres) 2) require anyone who receives the agricultural exemption to maintain the agricultural zoning for twenty years. If the zoning is changed, then all taxes at the normal rate for prior years become due and owing. These two changes will solve the majority of issues with agricultural zoning in Colorado.
Fairview Lending is a private Colorado Lender who has made hundreds of private loans on both residential properties, agricultural land, and commercial properties. To learn more please visit our website at www.cohardmoney.com or call 303…459…6061
There was an interesting article on CNN where Case/Shiller predicted a double dip in the housing market. What is leading this decline? In my opinion the number one driver right now is oil prices. Many of the hardest hit areas were “exurbs” for example in the Denver market, Castle Rock would be considered and exurb. Another area would be Bailey Colorado & Conifer Colorado These areas were typically filled with newer homes and catered to borrowers moving up int he market. Many of these areas have seen the highest percent of foreclosures. The majority of folks that live in these areas commute to larger cities in order to work. As gas prices continue to move above three dollars they take a larger bite out of the family budget. This leads to a downward trend in prices as more people lose houses to foreclosure and new buyers are reluctant to relocate to the area since it will be too expensive to commute to their job. There was an article in a local paper called The Flume which highlighted a drop in population in Park County. Traditionally people who lived in these area commuted to Denver. This drop in population in exurbs will continue the downward pressure on housing prices. Furthermore, the commuting trend is altering the current housing price landscape along with the future housing price trends
Fairview is actively lending in the Denver metro area and throughout the state of Colorado We are a direct private lender that does not charge up front fees. We lend on both residential (investment properties only) and commercial properties. No appraisals are required and we solely close loans with our own funds. For more information please visit www.cohardmoney.com or call 303…459…6061