23 unit apartment building located in Seattle’s Queen Anne neighborhood. The South Slope of Queen Anne Hill is arguably the best location in the city offering views of downtown Seattle and the iconic Space Needle. This investor wanted a quick refinance with some cash-out to finish a high end rehab project he started over in Magnolia. His note was also due and so this presented a great opportunity for a Seattle Funding Group, cash out, bridge loan. Many SFG borrowers have locked onto the practicality of making money with our money… a simple and effective concept, but often overlooked. The key element that sealed the deal was speed of delivery and having no prepayment penalty. SFG loans never have a prepayment penalty. This borrower will likely have the loan only for a short time, just the minimum amount of seasoning required by the next, more traditional long term apartment lender. This was our 3rd loan with this investor so his comfort level with SFG is extremely high, freeing him up to be at his best “entrepreneurial” self.
