Dean’s Success Story
Creative Lending Solutions
Every situation is different and unique – which is why at Gravity Capital, we are as creative as you need us to be. If you remember one thing about us, remember we look for creative lending solutions while, banks look to reject loans.
We know that each loan has the ability to be structured in a variety of different, creative ways. Let us present to you some of our most unusual loans with the hope of inspiring you to think outside of the box – but most importantly – outside of the banks.
The Subordination Loan
This is an example of what we call the Subordination Loan. Here are the major details:
- Property: Trailer Park in Pharr Texas
- Investor: Dean Ash
- Purchase Price: $2,100,000.00
- Loan from Gravity: $1,000,000.00.
A Lending Success Story
Dean came to Gravity wanting to purchase a trailer park in Pharr, Texas. It sat on 23.8 acres and had 171 pads. The Purchase price was $2,100,000.00. But here’s where things get strange: Dean had no down payment, marginal credit and not enough income to obtain a loan from the bank. What he did have, however, was tenacity.
We discussed a lot of options with Dean, and ultimately suggested that he ask the owner if he would allow Dean to borrow $1,000,000.00 in first position from Gravity, and have the seller carry back a second mortgage of the $1,100,000.00 – also called subordination.
So what happened? The seller agreed – and Dean was able to purchase the property. A win/win for everyone involved.
Write Your Own Success Story
This could easily be your story. What kind of creative loan do you need to achieve your current goals? Let Gravity Capital help you reach your personal and/or business goals – without the hassle of jumping through impossible hoops imposed by banks. Apply today to get started – you could become our next success story.
