The Buzz About Aggressive Lending Company

How Do You Borrow $462,000 On A Property with An Income Of Only $2,992?

fix & flip loan not based on tax returns

Loan Type: Fix & Flip

My client wanted to purchase more real estate to add to her portfolio. She had a 9-unit multi-family property that was free-and-clear that she purchased from the bank a few years back. She wanted to use this property as collateral and get as much cash-out as she could.

She went to many banks, but all banks determine cash-flow based on tax returns. Her corporate tax returns were showing less than $3,000 in taxable income therefore, she would not qualify under their standards. Also, they would underwrite all her properties to make sure all her holdings cash-flow in order to approve her for a loan on this property. They consider this "global cash-flow".

We worked with a lender who does not look at tax returns or the global cash-flow of the client in their underwriting process. We were able to prove that the building cash-flows using P&L statements and her business bank statements. Unlike a bank, as long as the property cash-flows they do not even look at her other holdings.

We were able to get her $462K to use to for new purchases so she can create a little real estate empire for herself. She manages these properties and has enough income coming in where she can be a full-time parent instead of working at a job 40 hours per week. She is doing well and excited for the future!

  • $462,000 Loan Amount
  • 30-Year Amortization
  • 5-Year Fixed Rate
  • 37 Day Turnaround
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First-Time Multi-Family Investor Gets 70% of Purchase Price & $280K for Rehab!

first time investor success story

Loan Type: Fix & Flip / Bridge

Not bad for a first-time Multi-Family Investor! This borrower previously only flipped single-family homes. But he saw an unpassable opportunity in this 14-unit building in the Washington Park area of Chicago. The current rents are $600 for 1 Bedrooms and $750 for 2 Bedrooms. He is converting the 1 Bedrooms to 2 bedrooms and will ask $1250 per month. He is converting the 2 bedrooms to 3 bedrooms and will ask $1400 per month when done.

All the apartments will be totally rehabbed with new kitchens, bathrooms, floors, electric, etc. This will be a cash-flow cow for him when he is done.

We were able to procure 70% of the purchase price and an additional $280K for rehabbing.

  • $597,000 Loan Amount
  • 1-Year Term (Interest-only)
  • 24-Hour Approval
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Needed Capital to Purchase the Business He Managed or He Would Lose The Opportunity

need capital success story

Loan Type: Fix & Flip / Bridge

My client wanted to purchase a convenience store he managed for a long time from the current owner for $80K. We also had to get this done within 30 days because the current owner of the store had a friend of the family who was ready to pull the trigger on the business if my client didn’t come up with the funds. This is too small of an amount to do a business acquisition loan on and his credit was not sufficient to obtain unsecured lines of credit.

However, he had a commercial property that he had just purchased about 9 months prior that he was almost finished renovating. The property was worth about $200K in its current condition and he only owed about $50K on it. We were able to secure him $130K so we could pay off the current lender at $50K and he had $80K available to then purchase the convenience store.

He went from making about $800/week managing the store to making about $1,800/week owning the store. He also has income from the building of about $2,400/month so he has more than enough cash-flow to cover the loan using just the building’s cash-flow. His life will be forever transformed!

  • $130,000 Loan Amount
  • Cash-Out $80,000
  • 1-Year Term (Interest-only)
  • 24-Hour Approval
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Developer in Michigan Was Tapped Out, Or So He Thought!

tapped out success story

Loan Type: Fix & Flip / Bridge

A developer in Michigan wanted to take advantage of a huge opportunity that was presented to him to purchase 2 commercial properties. The only problem was that he currently had a million-dollar construction project he was working on and the local banks just didn’t feel comfortable extending him any more credit. These two properties were only about 40% occupied so they did not currently cash-flow as well.

The acquisition cost for the properties was $625K and they needed another $100K in rehab work to get them to a point where they could be fully occupied. He needed a lender to focus on the project at hand and not look at his global situation in order to make this happen. They looked at his past experience and payment history in order to approve the deal.

We were able to secure him $469K of the purchase price and another $75K for the rehab work. He was able to move on the properties right away. When he is done with the rehab in about 6 months he already has renters lined up to move in and the property will cash-flow like a dream. He will then be able to go to a local bank and get them refinanced, no problem.

  • $544,000 Loan Amount
  • 1-Year Term (Interest-only)
  • 24-Hour Approval
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Developer /General Contractor in a Real Pickle!

in a pickle success story

Loan Type: Fix & Flip

A general contractor/developer built a Luxury custom home and was set to close for $490K but at the eleventh hour the buyer could not get the mortgage and he was now stuck. He was really in a bad position because he would always pay all the sub-contractors at close and they trusted him to do so because they had a 30-year relationship with this general contractor. He was really embarrassed that he could not pay them and did not have a plan to get the money. He did not want to lose the relationships he had built over the last quarter century because of this. That would not be good.

Well, we were able to approve him in about 24 hours on $343K so he could pay all his subs. We would close within 2-3 weeks. He told his subs the scenario. Although they were not thrilled on waiting another 2-3 weeks to get paid, they really had no choice at this point. So, they could live with that and continue the relationship.

The general contractor now has the time to seek out another buyer for the home without the huge weight of owing practically everyone he knows. Even though it is not the ideal situation for him, this man can now sleep in peace!

  • $343,000 Loan Amount
  • 1-Year Term (Interest-only)
  • 24-Hour Approval
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Small Business Loan for Maid Service with Little Collateral

Case Study

Loan Type: SBA

A buyer was interested in purchasing a small business, a maid service in Florida, and needed a loan but was turned down multiple times by the banks. This small business consisted of a few vehicles, cleaning supplies and a client list. The banks were not interested in this type of SBA loan with little collateral, but Aggressive Lending Company was up for the challenge.

We were able to get this small business (soon to be owner) a pre-approved loan within 3 days!

  • $255,000 Loan Amount
  • 85% Loan to Value
  • 10-Year Term
  • 6% Interest Rate
  • NO Prepayment Penalty
  • NO Origination Fee
  • NO CapX Reserve Required
  • $30,000 Seller Note Allowed
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Million Dollar Laundromat Acquisition That Was Losing Money!

laundromat success story

Loan Type: SBA

Using our extensive knowledge of Advanced Credit Analysis, we were able to uncover the true cash flow value of this business in order for a lender to approve it. We were able to recast their expenses and capitalize them. This allowed us to amortize them over a 10-year period which greatly improved the cash flow of the business.

We also had to line up a lender who could do an equipment-only loan of that magnitude. There was no real estate involved in this transaction. The terms we were able to secure were a 10-year 5.75% rate on Equipment Only.

  • $800,000 Loan Amount
  • 10-Year Term
  • 5.75% Interest Rate
  • 85% Loan to Value
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After-Market Car Accessories Store Purchase of Building

car accessories success story

Loan Type: Stated Income

This business was losing money in 2012. Another challenge was this store does a lot of cash sales which is hard to prove. We had to do extensive underwriting to determine true cash-flow for the 2012 loss and document all the cash sales before any lender would truly be serious about financing the property.

The car stereo store owner wanted to buy the building because it would basically cut his rent payment in half with the collection of the rents from the other tenants. This was a savings of over $30,000 per year he could keep in his pocket if we could get it done for him!

We were able to secure 70% LTV and the use of a seller note of 10%. 30-year Amortization, 3-year fixed, and his rate was 8.49%. This was approved on a stated-income basis, no tax returns were required.

  • $750,000 Loan Amount
  • 30-Year Amortization
  • 3-Year Fixed
  • 8.49% Interest Rate (Stated Income)
  • 70% Loan to Value
  • 10% Seller Note
  • 24-Hour Approval
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Purchase of Chiropractic Practice Business with a Negative $200K Net Worth

chiropractic success story

Loan Type: SBA

The buyer had been working at this practice for the past year. The seller’s wife was diagnosed with cancer and wanted to sell. The borrower had a negative $200K net worth due to student loans, 650 credit score, and did not own a home. The wife worked outside the practice.

The total project cost was $179,500. We were able to secure a bank loan for $143,500 with a $36,000 equity injection from the buyer. The rate was 6% variable for 10 years!

  • $143,500 Loan Amount
  • $36,000 Equity Injection
  • 10-Year Term
  • 6% Variable Interest Rate
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Liquor Store Buyout - Only Open 2 Years

liquor store success story

Loan Type: SBA

Liquor Store Purchase (buying out the other 50% partner) which was a relative and they had two different ideas of how to run the business. The business had only been open two years. We were able to use the money he had originally put into the business as the equity. The buyer did not own a home.

We were able to secure a bank loan for $150K with an interest rate of 6% variable for 10 years.

  • $150,000 Loan Amount
  • 10-Year Term
  • 6% Variable Interest Rate
  • 24-Hour Approval
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