Address: 25587 Conifer Road, Suite 105-333, Conifer, Colorado 80433
States They Lend In: Colorado
VRM Capital Loan Programs
V.R.M. makes private hard money real estate loans from $50,000 to $250,000 up to 65.00% loan to value at rates from as low as 10.00% to as high as 15.00%. Discount points are negotiable. Terms up to 5 years.
I will loan against the following types of properies:
- Single Family rental homes ( sorry, no owner occupied houses)
- Apartment buildings
- Hotel, Motels.
- Vacant land.
- Commercial Buildings.
Fix and Flip Loans
Fix and Flip loans are loans made to real estate agents or real estate entrepreneurs for the purpose of buying single family homes ,or duplexes and such, below market value in need of repairs. The homes are then fixed up and sold to “end users”, hopefully at a substantial profit. Since 1997 I have financed over 800 (!) of these purchases, usually to everyone’s satisfaction.
Rental House Loans
As a former landlord of single family houses, I like rental house loans the best. The problem however is that my rates are not really competitive for you to go borrow money from me at 12.00% which is what I charge for a 65.00% LTV , 5 year interest only loan. Most of the time those interest payments to me eat up all your cashflow.
There are however exceptions: Say you own 12 houses and FannieMay or your banker have put a halt to your ambitions. When you find that next killer deal that is going to make you a mint down the road, are you going to let that stop you? No, you try to make it work temporarily, so may be I can help under those circumstances. I usually write my rental house hard money loans at 12.00% for 5 years with NO points but I will insist that you not pay me off for 24 months.
Vacant Land Loans
Yes, I love making loans against LAND. Here are some of my guidelines:
- I will CONSIDER loans ANYWHERE.
- Loans from $50,000- $500,000
- ANY kind of land including recreational land, residential lots in established subdivisions and small land developments and ???
- Up to 50% loan to value.
- 2 year term with monthly interest only payments.
- Rates: I don’t know. It depends on the deal.
- NO prepayment penalty.
- Business purpose ONLY.
Out of State loans
Over the years, I have made many out of state loans. I enjoy the challenges associated with doing that and I often make more secure and more profitable loans as a result. You as the borrower should understand however that the cost of putting together a loan in a, for me, a strange place might cost you plenty as I often will need an appraisal and the services of a local attorney to help me with the paper work. That said, however, I’m ready to look at your deal no matter where you and your property are.
About VRM Capital Corp
Hi, My name is Tom Van Erp, the owner/ president of V.R.M. Capital.
I am a retired Realtor and former banker with cash, cash that I have saved over the years and cash that I have borrowed from friends and family in order to make private hard money real estate loans from $50,000 to $500,000, here in Colorado and sometimes other States.
When you apply for a private hard money real estate loan you are dealing with no one but me. No waiting for some mysterious far off investor to make up his or her mind, after all I am lending my own and my friend’s money! No waiting because often I will be able to tell you right after you e-mail me if we can do business or not. When you contact me I will be very interested in the Real estate you own.(or plan to purchase) I will want to know if you have real equity in the property as I am far more interested in that then whether or not you have good credit . in fact, if you own a good piece of real estate and you have a lot of equity or you own it free and clear I usually couldn’t care less if you have been turned down by someone else or a bank. Your good property qualifies you for a private hard money loan!
PLEASE NOTE THAT I DO NOT MAKE OWNER OCCUPIED SINGLE FAMILY HOUSE LOANS.