Black Square Real Estate

Phone: 844.681.3868

Address: 5757 W Century Boulevard, Suite 700 Los Angeles, CA 90045

Website: http://blksq.com/

States They Lend In: California and Utah

 

About Us:

 

Black Square was founded in 2009 to fill financial gaps in the real estate marketplace resulting from the collapse of the global financial markets. The principals of Black Square have in depth experience gained from purchasing, rehabilitating, renting and selling 1000's of single family homes for over 35 years. Drawing on this experience they have structured their loan programs to provide real estate investors the financial backing to successfully do more deals.

These loan programs address the needs of today's real estate investor by offering creative alternative financing with more flexibility than traditional lending sources. Black Square is a direct lender that underwrites and funds all loans in house. Our institutional funding base allows us to fund larger balanced loans at higher advance rates without limiting the number of loans per borrower. Our focus is to establish long-term lending relationships resulting in streamlined underwriting, lower fees, and reduced turnaround times.

 

What is Black Square?

 

Black Square is a finance company committed to providing mortgage debt financing to experienced investors who are in the FIX and FLIP business and/or investors that own multiple residential rental properties and are looking for long term non-recourse financing.

 

What does Black Square do?

 

Black Square offers 1 year Bridge loans on non-owner occupied residential properties that will be rehabilitated and flipped. We provide the experienced investor an avenue in which they can leverage their own money to do more deals.

Black Square offers the rehabilitation loan in conjunction with the residential bridge loan to help the seasoned real estate investor augment their equity in order to complete more deals.

Black Square offers the residential rental property investor a long term financing solution with higher LTV advances, low annual interest rates and no cross-collateralization constraints. This long term financing is available on a single loan or portfolio basis.

What property types does Black Square lend on?

 

Black Square will lend on a wide range of single family residences. These include non-owner occupied single family homes 1-4 units, duplexes, triplexes, four-plexes, townhomes, and condominiums.

Black Square’s rental loan offers long-term loans on residential 1-4 unit, 5+ unit multifamily and small commercial properties.

 

Where in the United States will Black Square lend?

 

Black Square lends in the western United States while specializing in meeting the needs of the California Real Estate investors.

 

What benefits does Black Square offer its borrowers versus traditional lenders?

 

Black Square’s sole focus is to provide lending solutions to the experienced residential investor. Because Black Square offers commercial loans we are able to base our underwriting on the asset and the borrower’s experience allowing us to approve loans that traditional lenders won’t touch. We offer a streamlined, in-house underwriting process with no tax return requirements.

Black Square’s rental loans are specifically designed to meet the needs of the western region residential rental owners. These loans offer higher advance rates, and are free from cross-collateralization constraints.

 

How much money can I borrow?

 

There is no limit to the number of bridge loans a borrower can have with Black Square.  The number of rentals loans is determined by the borrower’s ability to meet underwriting guidelines.

 

Is there a minimum loan amount?

 

To qualify for Black Square’s Bridge loan the requested loan amount must be at least $75,000.

A qualifying rehabilitation estimate must equal 10% or more of the purchase price and a requested loan must be at least $25,000.

A qualifying rental loan will have a minimum loan amount of $75,000.

 

What kind of products does Black Square offer?

 

Black Square Residential Bridge Loan:

• Up to 80% LTV of the purchase price
• 2% Discount Points
• 10% interest only, paid monthly
• 1 year maturity, no prepayment penalty
• No up-front lender fees
• Bridge loans may be structured to roll into the rental loan

 

Black Square Rehabilitation Loan:

• Up to 100% advance of the estimated rehabilitation costs
• All discount points financed in loan
• 12% interest only, paid monthly
• No additional appraisal fees
• Call for pricing

Black Square Residential Rental Loan:
Simple Documentation

• 30 year amortization
• 3 year fixed rate (3/1)
• 2-1-6 rate cap structure (2% initial-1% periodic-6% max)
• 70% maximum LTV of current market value
• Non-recourse to entity
• No cross-collateralization agreements
• Streamlined documentation
• Bridge loans may be structured to roll into the rental loan