Lender is Set to Buy $150,000,000 in Builder Closeouts, REOs and Non-Performing Notes Per Month in 2008
March 10th, 2008 by eCommissionLending Gateway, LLC is now purchasing builder buyouts, REOs and non-performing notes.
San Diego, CA (PRWEB) March 10, 2008 — On Friday, March 7, 2008, LendingGateway.com announced the company’s budget for acquiring buyouts has increased to $150MM per month. The company will work only with principals or authorized agents and is aggressively seeking builder closeouts, REOs and non-performing notes in Arizona, California and Nevada.
With the real estate and mortgage market in its current state of disarray, many developers have new construction inventory completed or under development and either want to get out of the construction and take some profit or the bank is no longer lending the developer money and the project is halted. LendingGateway.com is looking to increase the company’s buyout purchasing.
“We’re looking to buy up as many buyouts and REOs as possible this Quarter,” says Alex Capio, CEO of LendingGateway.com, “so naturally, the increased budget has helped us in regards to how many properties we can take in each month. We’ve negotiated some unique relationships with private investors in the US and offshore increasing our buyout budget to $150 million US dollars.”
“Anyone bringing us properties to buyout has to be a principal or Authorized Representative only,” emphasized Ian Boshoff, VP of Business Development at the company. “If you are an Authorized Rep or owner, we can purchase pretty much any buyout in California and other South Western states and close the deal very quickly. We’re in this to turn around as much inventory as possible in 2008.”
LendingGateway.com is a full service lender offering Residential and Commercial loans in the US. Additionally, the company leverages unique relationships with investors and investment groups to fund resort, home and condo construction projects in Mexico and Central America. LendingGateway.com has recently been getting heavily involved in funding much needed hotel construction projects in and around San Jose, Costa Rica as Costa Rica needs some two thousand new 4 to 5 star hotel rooms by 2010.
LendingGateway.com is a privately owned lender and online marketing company located in San Diego, CA. Principals or Authorized Reps with buyouts and REOs can contact LendingGateway.com by filling out the form here, email at info@lendinggateway.com, or by phone at 619-624-9198 x11.
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July 28th, 2008 at 10:40 am
Sirs:
We have a client, a privately owned commercial real estate brokerage firm that is working under usually sixty-day exclusive agreements with developers and their mezzanine lenders, to sell the condo project unit pools to appropriate project investors. There is great opportunistic pricing for these, with pricing in the 55% of value area.
As I understand it, from a list site for banks and lenders that invest in such projects, LendingGateway.com is now investing in such projects. If that is true, we have projects in Arizona and Nevada as well. Our referral fees are very reasonable.
Let me know which states you would have interest in seeing project detail information on.
Thanks much,
Ron Dahlke
Jaymes Financial, Inc.
509-525-0409
rldmls@aol.com
http://www.jaymesfinancial.com
January 8th, 2009 at 9:53 am
Do you think that LendingGateway.com buying these buyouts will help the economy or it will put it into more of a disarray? I feel it will either be great or treading on dangerous.
March 4th, 2009 at 1:47 am
So they did this over the last few months? Any update on how they’re doing now or if they actually did what they planned on doing? It seems like they could have lost a lot throughout ‘08.
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