For most loans we will need an appraisal performed by an MAI appraiser, title report from Stewart Title Co. or Chicago Title Co. and a survey.
Depending on a number of factors, we can close anywhere from 48 hours to 5 days after we receive appraisal, title report and survey.
$400,000 up to $5 million. Minimum loan size may be lowered to $200,000 in special cases.
No. All are loans are asset driven; the property value, cash flow, and experience and reputation of the borrower are the basis for our underwriting decisions.
We lend up to 65% of appraised value.
Obviously, the more information you can provide the better. We will need an executive summary of the proposed loan, identifying the property, approximate value, loan amount desired, length of ownership if refinanced, copy of purchase contract if a purchase.
If your proposed loan fits our criteria, we will issue a contingent letter of commitment outlining terms and conditions for closing.
Interest rates are 9.75% – 12.75%, terms of 1 to 5 years, interest only.
No, we only receive payment when and if we fund your loan request.
No, you are investing in a Series Limited Liability Company which in turn invests in the single mortgage loan that you want to invest in
No, the manager of the Series Limited Liability Company does not receive any management fees
We earn our money on origination fees paid by the borrower of the loan, and a 1% servicing fee subtracted from interest payments received before distribution to investors.
On most of our loans interest is paid monthly. As soon as it is received it is ach’d into your bank account
The principals of Private Mortgage Financing Partners, LLC, sponsor and manager of Private Mortgage Investments, LLC are real estate, finance and banking industry professionals, with a combined 65 plus years of experience in real estate and lending. We have developed this platform to allow a greater number of investors access to high yield private mortgage investments, and to provide the greatest amount of transparency possible. The principals of many of our competitors are technology and computer specialists, with limited knowledge and experience in the banking, lending and real estate space. They consider their platform to be a technology company that happens to have real estate as the product. We are real estate finance people first and foremost, our platform is merely a better way to syndicate investment opportunities, not an ends and means itself.