Little
Rock Investments (LR) is a Private
Mortgage Manager. Not quasi-institutional, but private. Our small group of
professional private first mortgage lenders possess great experience They have seen
it all. We have a very close working and personal relationship. LR remains
involved in the transaction at all times, up to and beyond settlement, and
default management.
We
generally operate at the more conservative end of the private market and will
consider loans for completed residential (non-Code only), commercial,
industrial properties as well as land in sensible locations and with
appropriate gearing, ranging in volume from $0.300 M upwards. We specialise in
loans in excess of $1.00 M, and may range up to $5.00 M per security. So, for
instance, in a situation where there may be “leftover” stock in a development,
and the developer is under pressure from his lender to put that stock to the
market at unreasonable prices, LR may be able to package several different loans
– presently up to $20.00 M – using a number of our private investors.
It is not possible for us to set
out a precise matrix of pricing. Each deal stands alone. So talk to the writer!
So let’s be quite open about this. We only want to see deals that really
have a strong presentation; where the security property is well located; and
where all assertions made in the proposal are in evidence or can be backed up
on due diligence. This will ultimately determine speed of response, likelihood
of settlement and pricing.
We accept what you say at the outset, and arrange funding in principal
on that basis! So, please be accurate. Due diligence will be carried out. We
therefore expect accuracy,
transparency, co-operation, sound reasoning and accuracy
when supporting evidence is sought.
What you can then expect is a nimble reaction based on verified, or
verifiable facts; subsequent timely attendance to background and supporting
material required, and packaging of the final submission for formal response,
instruction and overview to settlement.
You can also expect to be quickly notified in the event of default!
Notes to Introducing
Finance Brokers
·
References
from your peers are available
·
From the
outset we directly emphasise in name and action the broker’s conjunctional
input and continuing role, including your letterhead
·
We insert
an irrevocable authority for you
We refer
to the type of private funding in which we specialise as “transition finance” –
where a borrower may have a first class proposal but which doesn’t fit the
strict criteria of traditional lending institutions - or at least may not be
able to within the timeframe required.
We are
not looking to be involved on a “lender of last resort” basis, but offer a
genuine medium term solution for either short term profit to the borrower or transition
to institutional funding.
