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Need A Real-Estate Business Financing

Q.  I have a real estate investment corporation. I need working capital, 95% will be used for the purchase of deeply discounted single family housing. I can't seem to find financing. It is secured and you can't lose! I need $120,000-150,000. one time infusion of funds with a complete 2 years payoff. Can you help me?  - Richard

 

A. There are a few avenues that you can explore. First what other assets are in your real estate investment corporation? Often banks will allow you to cross-collateralize your assets to secure other properties. Have you secured a mortgage for the property? You may want to speak with your attorney to discuss the possibility of increasing the purchase price to leave the closing with working capital. If you are located in NYC (or one of the surrounding areas) I could help you to find an attorney that focuses on situations of these types. If all of these options fail, you may want to contact friends and family in order to secure investments from a large block of angel investors. Good Luck.

Lisa

 

About the PowerHomeBiz.com Guide: 

Lisa Segal is a New York State licensed Certified Public Accountant. Prior to founding Convergence Consulting Group, she was the CFO of Retail Promotions, LLC, a developer of patent-pending technology in the retail space. Ms. Segal was a senior consultant at KPMG Peat Marwick, where she developed and implemented financial strategies, global restructurings, initial public offerings, and spin-offs for many Fortune 500 clients, including Pfizer, Pepsi, Fuji and Carl Icahn/ Lowestfare.com. Ms. Segal earned a Bachelor of Science with honors from the Zarb School of Business at Hofstra University and a Masters in Taxation at C.W. Post.

The opinions expressed in this column are those of the author, not of PowerHomeBiz.com. Users should not treat the Guide's response as legal, accounting, or professional advice as all answers are intended to be general in nature. Such advice can only be properly given by qualified professionals who are fully aware of a user's specific geographical areas or circumstances, such as an attorney or accountant.

   

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