REAL ESTATE INVESTOR LOANS FIX 

& FLIP OR RENTAL PROPERTIES

ABOUT US

We are a boutique firm that provides funding to unique borrowers that do not meet strict institutional guidelines on investment property. For our investors/lenders, we provide investment opportunities that are secured and underwritten by David Dweck. Since 2000, David Dweck has been underwriting with full knowledge of the South Florida Real Estate Market and has a staff dedicated to personalized, professional service. The Private Equity Team is easy and responsive to work with. We do not charge for our expertise and each property we loan on is physically visited and we meet every borrower prior to the transaction closing. Our legal team oversees funding and adds an additional layer of peace of mind. We are dedicated to insuring a smooth and profitable transaction for all parties.

BORROWER LOAN FAQs, GUIDELINES AND APPLICATION

Your monthly payment is due between the 1st and the 5th of each month. Please refer to your “Payment Notice” and “Mortgage Note” for date that payments begin and exact amount. You will not receive a monthly statement or reminder.

When you make you interest payment each month, it is for the previous month’s interest (unlike rent which is paid in advance).

You send your payment to and payable directly to the lender. Please refer to your “Payment Notice” for details. The Private Equity Funding office does not accept payments.

At this time that is not an option.

You can renew your loan by contacting our office to request a Modification. Our office will contact you approximately 60 days prior to your loan balloon date with options.

If you are using a title company, please ask them to request a payoff from our office by sending such request to reception@daviddweck.com. Please ask them to give the full address, borrower’s name and date of pay off.

Effective July 1, 2018. All loans are first position only. Rates vary.* All loans are subject to credit review, inspection, clear, marketable and insurable title, with no liens. We are primarily focusing on SFH/MFH with other properties considered on a case by case basis. Cash out refinances are available on limited basis at 50% LTV.

Loans are made strictly to LLC’s Corporations or Land Trusts with a personal guarantee.

Residential Single Family Home

  • 65% LTV max.
  • Loans under $200,000-any renovation in excess of $10,000 shall be subtracted from the loan amount, subject to strength of borrower and condition of property.
  • Loans above $200,000-all repairs over $15,000 will be deducted from the loan amount.
  • Lender may require survey and/or appraisal.
  • Residential deals may require escrowing for taxes.
  • Please note: We are cautious in certain markets where the supply of inventory is high.
  • Borrower will need to have money in the deal and is required to show proof of funds for renovations and/or carrying costs.
  • Minimum Loan Amount: $40,000.

5 units and above

  • 65% LTV max.
  • Need to see rent rolls.
  • Lender may require Phase One Environmental.
  • Subject to physical inspection & clear title
  • Lender may require survey and/or appraisal.
  • Inspection fee to be determined and collected at time of inspection.

Other commercial properties/strip centers

  • 65% LTV max.
  • Lender may require survey and/or Phase One Environmental and appraisal.
  • Inspection fee to be determined and collected at time of inspection

Luxury SFH

  • 60% LTV max.
  • Borrower will need to have money in the deal and is required to show proof of funds for renovations and/or carrying costs.

Long Term Loans

  • They are available on a limited supply at a lower rate.*
  • 1 point to lender may be collected.
  • 1 year prepayment penalty.

Additional Fees

  • Rush Closing Fees: 100k loan value or less, fee is $1,000. Loan value over 100k fee is 1 point. All rush closing fees are due at the time the file is opened.

Transactional funding: Available for double closings. Please call for details.

At this time, we are not funding any condo loans unless it is on the water.

*Rate is subject to change without notice, may not be available at closing.

Please make copies of the loan application to have on hand for future deals.

  1. Submit ONLY the loan submission form via email or fax. Do not submit our application until your submission is reviewed. Thank you for your cooperation.
  2. We will give you a loan amount.
  3. We will fax or email you the paperwork to fill out regarding your credit and property information.
  4. We will request that you provide us a current credit report, and go to inspect your property. Property inspection fee for condos, townhomes and single family homes is $150 and is payable at time of inspection. An administration fee and document preparation fee payable to our law firm which totals $700, will be added to your closing costs. (Please note that in some cases, these fees will be higher.)
  5. Rush Closing Fees: 100k loan value or less, fee is $1,000. Loan value over 100k fee is 1 point. All rush closing fees are due at the time the file is opened and are non-refundable.
  6. REO Notary/Closing Fee $200. Fee may increase due to travel time &/or closing after hours.
  7. We do not loan to individuals, loans are business loans for investment purposes only. *WE DO NOT LOAN TO OWNER OCCUPANTS.* We do loan on commercial property.
  8. You must have a valid Corporation or LLC and a FEI # at time of application. *All borrowers must have filed their 2017 annual report with the State. *If borrower is an LLC, please submit operating agreement or a resolution clearly stating who is authorized to sign loan documents on behalf of company. Resolutions must be notarized within the last 6 months. *If borrower is a Corporation, a resolution specifically stating that the president of the corporation is authorized to sign the loan documents. Resolutions must be notarized within the last 6 months. *Resolutions must be signed by all shareholders * signed in presence of a notary.

Borrower Checklist for Closing – You will need to bring these items to closing:

  1. Hazard and Wind insurance that covers vacant property and proof of payment, insurance must be pre-paid for one year, please fax or e-mail this document to us 24 hours prior to closing for our review. *Please Note: On refinances, if your property is not insured, the closing will be delayed for 30 days.
  2. Flood Insurance if your property is east of I-95.
  3. Your cashiers check or wire for the closing cost due.
  4. Your corporate seal and tax id number for your entity.
  5. Your driver’s license.

The Closing Process

  1. Fax or e-mail the full application, executed contract, title company information and recent credit report (if you have one) otherwise we’ll pull it for you. Please call to confirm receipt of all information faxed. Fax to 954-354-1010, email to nancy@daviddweck.com.
  2. After the property inspection and all your paperwork has been faxed to us we will give you a loan commitment which includes the loan amount, percent, and points.
  3. The title company will start their lien search to obtain clear title (estimated time is 10-14 days). You will need to provide how you are purchasing the property, i.e. corporation, trust, LLC and who is the president of the entity. You must also provide the buyers name, phone, fax and address, the sellers name, phone, fax and address, any real estate agents names, phone, fax and addresses and anyone who will be attending the closing to provide to them with the location and time of the closing.
  4. Once the title company has obtained clear title they will fax us a title commitment and we will close shortly.
  5. We will prepare the mortgage documents.
  6. We will confirm with the title company the closing date and time.
  7. One of our representatives will attend the closing.

“I am happy to say that all my properties are rented with long term tenants and positive cash flow, over $10,000 monthly gross income. Because my properties are self-managed I am netting almost $5000 per month, after mortgage, insurance and taxes. Combining my rental income with real estate commissions, I have almost completely replaced my full-time engineering salary within the past 2 years!” 

— John Chenoweth

 

 Ready to find out more?

Apply now,

call 954-354-1400 or contact us today to discuss your borrowing needs!

Are you looking for secure short term investments secured by South Florida real estate?

Make a secured loan to one of our highly screened real estate investors.

65% LTV after repaired value.
Only Miami-Dade, Broward and Palm Beach counties. One year term with payments secured by a first mortgage.

PRIVATE EQUITY FUNDING LENDER FAQs

Private Equity Funding was formed in 2010.  David Dweck, the principal of Private Equity Funding, has been involved in hard money lending for over 20 years. 

Our ability to underwrite by knowing the South Florida real estate market and the ability to screen borrowers. We loan strictly to investors.

Yes, in the great recession, and some have since recovered the losses from that period. Recently, we have had very few defaults.

No, unless the borrower defaults and the lender has to file a foreclosure.

We loan at 65% of the after repaired value so a market correction will really not affect your loan.

We strictly loan in South Florida, Miami-Dade, Broward and Palm Beach counties.

We specialize in single family homes, occasional condo or townhome, and apartment buildings and select commercial properties.

You’re investing on a tangible asset with a monthly return secured by a first position mortgage.

We specialize in single family homes, occasional condo or townhome, and apartment buildings and select commercial properties.

You are named as a loss payee and it required prior to funding a deal.

Typically one year, sometimes longer term loans are offered.

 Ready to find out more?

Call 954-354-1400 or contact us today to discuss lending opportunities!

DAVID DWECK

David Dweck is based in South Florida, and is an active real estate investor and a licensed Realtor. His company, Private Equity Funding specializes in private loans for real estate investors. He has bought, sold, renovated, consulted and brokered over 2,000 transactions. He has also participated in numerous commercial transactions. In 1994, he founded the Boca Real Estate Investment Club. As founder and president, he has built the organization into one of the most respected real estate investor associations in the United States. 

He has spoken on a local and national level on real estate investing and has been quoted and written about in local and national media including CNBC, Forbes, Wall Street Journal, Bankrate.com, Investors Business Daily, Fortune Magazine and The Today Show. 

He is on the Board of Directors of Frank McKinney’s Caring House Project Foundation. He is passionate about travel, basketball, Muscle Cars and music. Originally from New York, he graduated from the University of Miami, and has called South Florida home since then.

CONTACT US

Private Equity Funding LLC

4851 West Hillsboro Blvd. A-4
Coconut Creek, FL 33073
Direct: 954-354-1400 | Fax: 954-345-1010

  • *WE DO NOT LEND TO INDIVIDUALS*
  • President, Manager, Member, etc.
  • President, Manager, Member, etc.
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