Entries by Peter Spiro

FAQ: What is a REIT?

A Real Estate Investment Trust (REIT) is similar to a mutual fund, but instead it invests in the ownership of income properties or mortgage instruments. In short, It is a passive way to invest in real estate. You buy and sell shares in a REIT just like you do in a mutual fund, while relying […]

460 Euclid Terrace NE

Collateral property: 460 Euclid Terrace NE, Atlanta, GA 30307 Appraised value: $515,000 Loan amount: $250,000 (49% LTV) Description: This loan was to a repeat client in Atlanta. The property was sold for $490,000 and the loan was paid back in full.

223 Carter Ave SE

Collateral property: 223 Carter Ave SE, Atlanta, GA 30317 Appraised value: $410,000 Loan amount: $265,000 (65% LTV) Description: This loan was to a repeat client in Atlanta. Property was sold for $410,000 and the loan was paid back in full.

3602 Silsby Rd

Collateral property: 3602 Silsby Rd, University Heights, OH 44118 Appraised value: $125,000 Loan amount: $83,000 (66% LTV) Length of loan: 7 months Description: This loan was to a builder in Cleveland that I had worked with previously. Property was sold for $123,600 and loan was paid back in full.

482 Nesbit St

Collateral property: 482 Nesbit St, Norcross, GA 30071 Appraised value: $450,000 Loan amount: $325,000 (72% LTV) Description: This house was new construction. The borrower sold it for $489,000 and paid back the loan in full.

37 Donna Ln

Collateral property: 37 Donna Ln, Commack, NY 11725 Appraised value: $430,000 Loan amount: $251,000 (58% LTV) Length of loan: 6.5 months Description: This loan was repeat business to the same developer as the property above. The property was sold for $420,000 and the loan was paid back in full.

40 Chatham Dr

Collateral property: 40 Chatham Dr, Oakdale, NY Appraised value: $400,000 Loan Amount: $260,000 (65% LTV) Length of loan: 6.5 months Description: This loan was to a real estate developer on Long Island. The property was sold for $405,500 and the loan was paid back in full.

1237 Crease St

Collateral property: 1237 Crease St, Philadelphia, PA Loan Amount: $103,090 Length of loan: 17 months Description: Loan was for new construction to an investor working with a developer in Philadelphia called National Realty. Borrower refinanced into a traditional mortgage and loan was paid back in full.

1655 Avon Ave

Collateral property: 1655 Avon Ave, Tucker, GA Appraised value: $140,000 Loan Amount: $95,000 (68% LTV) Length of loan: 18 months Description: Loan was made to a real estate developer in Atlanta, GA. Property was sold for $164,000 and loan was paid back in full.