Bridge Plus – Dallas, TX

The Opportunity

A client needed a loan to acquire a luxury home in Dallas to use as a single-family rental. He approached a bank, but the bank required a lease in place before originating the loan. The bank also spent too much time addressing its documentation requirements and underwriting concerns, endangering the deal.

The client needed alternate financing that could close quickly to ensure he could purchase the property and begin to profit.

The Solution

In stepped Lima One. Our interest-only Bridge Plus loan allowed the investor to close the deal before the lease was in place. And our asset-based private lending approach allowed for a quick close with streamlined underwriting and documentation compared to what banks require.

With Lima One’s assistance the investor was able to secure a $2.3 million loan or this 4-bedroom, 6-bathroom home that sold for $3.55 million. Lima One saved the deal, setting the investor up for future profit on a fantastic property.