Posted on Jul,31 2019
by Rich Salinaro in Blog
$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.
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.
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