Ready to Seize Opportunities? We're Here to Fund Your Success In Real Estate Investing!
Ready to Seize Opportunities? We're Here to Fund Your Success In Real Estate Investing!
MO-MGM is a Louisiana division of Private Money, a Relationship Driven, Nationwide Private Money Lender focused on providing the best loan programs available for Real Estate Investors across the US. It is run by Lola Slayton with 20+ years in Real Estate and financing.
Rentals(DSCR Loans)
Fix & Flip Loans
Mid Rehab Loans
Ground up Construction Loans
Portfolio Loans
Multifamily Loans
Hospitality Loans
Professional Office Loans
Industrial loans
Retail Shopping Center Loans
Short Term Rentals
Long Term Rentals
Condo's
Non-Warrantable Condos
Condo-tel's
Foreign National's
We want to bring innovation to your Investments.
We provide financing options that empower both new and experienced borrowers. For those with a 720+ Equifax Score, we offer up to 90% of the purchase price and 100% of the rehab costs, reaching up to 70%-75% of the After Repair Value. If you've successfully completed at least 5 flips in the last 2 years, we streamline the process by closing your loan without inspections or appraisals, going up to 75% of the After Repair Value. Our definition of experience is specific—what is the number of homes you've bought and sold in the last 24 months, acquired within the last 36 months. Credit is low ? Not an issue, We still have programs available that will allow for fix and flip loans at lower credit score with reduced Loan to Values. Do you have a property that is mid rehab? We can provide the capital to complete your project and help bring it over the finish line!
We can also do fix and flip 100/100 or 90/100. Depending upon the State and the appraisal. Also, the resume, experience they have. This is private money. A great program for investors who do not want to show tax returns.
STANDARD DOCUMENTS: ONE TIME
Copy of Drivers License
Articles of Incorporation, Original ElN letter on your LLC
Letter of good standing on your LLC from the State, wherever your LLC was registered, if LLC is older than one year Operating agreement for your LLC, signed by members that shows % of ownership Two months of Bank statements ( looking for 6 Months of liquidity
DOCUMENTS FOR CLOSING
Copy of lease or purchase contract
Insurance information (Name, number, email)
Title information for closing (agent, Name< number, email)
Appraisal
Voided check
We finance Investment Purchase up to 85% Loan to Value and Cash-Out Refinances up to 80% Loan to Value based off the Debt Service Coverage Ratio (DSCR) of the investment property.
We cover the full spectrum of the investment rental real estate market including:
Furthermore, we qualify Short Term Rental properties based off projected short term rental income as opposed to long term market rents.
We offer up to 90% loan to cost for experienced builders in major areas. This goes to 70-75% of the After Repair Value. We can offer up to 70% of the initial land cost, as long as the total loan does not exceed 85% loan to cost (80% for less active builders and smaller markets and up to 90% for pro builders). We even have programs available for 1st time home builders. Have an amazing piece of dirt on the island? Let's build!
Have a project that is mid rehab and need money to complete? We've got your back! Our Mid Rehab Loans provide you cash against the new As Is value of your property plus the money you need to complete the project!
Reach us if you cannot find an answer to your question.
We underwrite Short Term Rental properties based on their projected annual income, utilizing specialized software to assess income potential and calculate the property's ability to support the mortgage. For a free property analysis, contact Lola at (713)205-8730.
No. Upfront fees, except for large commercial loans, are not part of our lending model. Typically, the only out-of-pocket expense is the cost of the appraisal, paid directly to the appraisal company.
Yes, we can finance Rental Loans down to a 600 credit score at 70% Loan To Value, and for fix and flip loans, we can go up to 90% of purchase and 100% of rehab cost, also down to a 600 credit score. The reason for the low credit score may impact loan availability.
Yes, we offer Debt Service Coverage Ratio (DSCR) Loans, assessing the property's ability to pay the mortgage monthly. While a DSCR of at least 1.0 is generally preferred, for strong borrowers, we can go down to .75 DSCR at lower leverage, although the rate tends to be higher.
Yes, we can finance Non-Warrantable Condos or Condotels, although the maximum leverage may be slightly reduced.
No, we strictly provide loans for Non-Owner Occupied Investment Properties, unless it is a Commercial Property. For home purchases, contact a conventional NMLS licensed mortgage broker.
Generally, a DSCR/Rental Loan takes 30 days to close, including awaiting the appraisal. Fix and flip loans take an average of up to 21 days, with some closing in as fast as 3 business days if title and insurance are complete.
Our minimum loan amount is $75,000, and our maximum loan amount exceeds $10 Million.
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