Sticks and Loans Commercial Mortgage Real Estate Services

 A commercial real estate loan on a property needing renovations. Most of the times these properties are vacant.  

1. Borrowers Name: 

2. Borrowers Contact Info (Phone # and email): 

3. Is borrower a US Citizen? 

4. Has the borrower ever been convicted of a felony? If so what date did it occur and what was the name of the exact charge? 

5. Company name the borrower is closing in (must close in a corporate entity):   

6. What name is the property currently titled in (company or personal name), if applicable? 

7. Who makes up the entity and what are their percentages of ownership?  

8. Address of Property:  

9. How many acres of land is the property on?  

10. What is the current square footage of the property?  

11. Exact property type (Ex: SFR, 2-unit, 7-unit):  

12.  Is this property zoned commercial or residential? If the property is  zoned residential how many bedrooms and bathrooms does it have? 

13. Is there an HOA where this property is located? If so what is it and when is it paid? 

14. Is this property vacant or occupied? If it is occupied, by whom?  

15.  Will this property be turned into a different property type? (Ex, will a  bedroom, bathroom, a floor, or more square footage be added to the  property?)   

16. Purchase Price (PLEASE ONLY FILL THIS IN IF THIS IS A PURCHASE TRANSACTION): 

17. Is the borrower already in a purchase and sales contract?  

18.  Is the borrower buying this property from a wholesaler? (If so we need a  copy of both purchase and sales agreements/assignment agreement) 

19. If Yes, have they entered into this contract as an ALL CASH DEAL? 

20. If in purchase and sales contract, has any earnest money been put down? If so how much? 

21. Current Fair Market Value of property: 

22. When does the borrower need to close? 

23. Rehab Cost: 

24. ARV (After Repair Value) of property: 

25. Exit Strategy on Loan (Refinance or Sell): 

26. How long will the property take to rehab? 

27.  How much money does borrower have to put into the project (Must have  20-35% (depending on property type) of purchase price plus closing  costs) PLEASE PUT IN A DOLLAR AMOUNT BORROWER HAS, NOT A PERCENTAGE. We  will ask for a bank statement to verify these funds. 

28. How many  BOUGHT AND SOLD (fix and flip) deals has the borrower done in the past 2  years? (Please provide list with dates bought and sold).  

29. Can the borrower prove the bought and sold properties 

30. How  many investment properties has the borrower sold in the past 3 years?  (Primary home does not count. Properties could have been bought at any  time.) 

31. How many investment/rental properties does the  borrower currently own, that are currently leased out (They must be  rented with an actual leased tenant)? 

32. If the borrower already owns the property….when did they buy it? And how much did they buy it for? 

33. If Refinance, how much money was put down on the initial purchase? 

34.  If the borrower already owns the property, have they put any of their  own funds into rehabbing it? If so how much? Can they prove the money  they have put into the project with receipts?  

35. If the borrower already owns the property how much existing debt is on it? 

36. Borrowers fico scores (Please list all borrowers scores): 

37. Please list borrows home address 

38. Does the borrower rent or own? Please list monthly payment. 

39.  Does the borrower have any IRS issues/liens, Tax liens, judgments, past  bankruptcies, past chapter filings, past foreclosures, past home  modifications, recent or pending lawsuits against them, current  delinquent bills or any current or past credit issues we need to know  about? If so please explain and list date:   

40. Has the borrower ever had any mortgage lates? If so when?  

41. Does the borrower regularly file taxes with the IRS? If not what years were not filed? 

42. What rates and terms is the borrower expecting? 

43. Is the borrower already working with another broker or lender? 

44. What is special about your deal?