“Benucci Capital strongly encourages (and at times, requires) developers to use James Kastner and the District Residential team for the resale of our investments. With James and his team, we can be assured that we will all receive the highest level of marketing and exposure to the market as possible.”
– Joe Benucci
Benucci Capital is your #1 source for private/hard money financing for Virginia, Washington DC, Maryland, South Carolina and Florida. Benucci Capital specializes’ in rehab financing for real estate investors and commercial bridge loans. Benucci Capital is a local private lender you can trust. They are ideal for real estate investors who need short term funding to acquire, renovate and rehab distressed properties.
- Fix and Flips
- Distressed Property purchases – REO’s, Short Sales, Auctions
- Short term bridge loans on commercial properties
Why choose them for your investor rehab loans?
- Up to 100% financing available based on purchase price
- Loan amounts up to $5 million
- Fast closings
- Local lender and local decision makers
- Less paperwork than a traditional lender
- Flexible lending guidelines
- Quick approvals – usually within 5 days of submission
- Limited income verification or NO DOC
- LTV up to 70% of the “after repair value”
- Competitive rates and terms
- No prepayment penalties
Non-owner occupied vacant properties only – all funds must be used for a business purpose.
Benucci Capital LLC is a seasoned financial company that provides capital to Real Estate Investors. The Virginia based company is lead by Joe Benucci. Mr. Benucci has over 25 years of lending experience and generates in excess of $40 Million of private capital on an annual basis.
The company conducts business with experienced investors in need of capital to fix and flip properties in Virginia, Washington DC, Maryland, South Carolina and Florida. All deals are managed from purchase acquisition to close by Mr. Benucci. Key competitive advantages for Benucci Capital LLC are availability to capital, quick response to clients, market mind share from years of experience, and ability to close quickly.
By offering niche capital, along with excellent service and familiarity of market conditions, Benucci Capital LLC, has built a sound network of seasoned Real Estate Investors in the region. Most important, however, Mr. Benucci understands the value of long term business relationships as a key driver to successful and profitable outcomes.
Types of Properties and Deals Done:
- Residential Rehab (Non-owner occupied)
- Commercial (Office, Retail, Warehouses, Mixed-Use, Gas Stations)
- Condo Conversions
- New Construction (from ground up)
- Vacant Land / Land Development
- Unlimited Cash Out Re-fi’s
- High end residential properties
Note: None of the loans have pre-payment penalties and they do not require income docs, tax returns, or bank statements. All credit types are considered (approvals are based on property).
Residential Rehab Loans
Benucci Capital will lend you the money for the acquisition and renovation of residential distressed properties. They also do cash out refinancing.
- Between 50-70% LTV based on ARV
- 9-month balloon note (longer terms case-by-case)
- Repair money escrowed and released in draws
- Non-owner occupied only
Other Loan Features
- All loans are equity-based
- No pre-payment penalties
- No minimum loan amount up to $5 million
- No personal financial information is required (no income tax returns, no pay stubs, no proof of funds)
- No employment verification
- No minimum credit score requirement (all credit types considered)
- Experience is not required for approval
- 24-hour loan review process
- Fast closings (usually within 10-14 days)
- Repair money is held in escrow and reimbursed to borrower (in draws) as work is completed
PRIVATE MORTGAGE INVESTING EARNING AN AVERAGE OF 11%
Benucci Capital originates and underwrites high yielding, low loan-to-value loans to investors in the DC metro area.
They do not operate LLC mortgage pools – each private mortgage note made is funded directly to the insuring title company and your vesting is on each note and deed of trust.
Due diligence investor packages are sent before loan commitment which can including the following:
Due Diligence Investor Packages
- Tax records
- List of repairs
Advantages of Private Mortgage Note Investing
- High annual yields (typically 11%) secured by real estate
- Interest payments are paid monthly
- Low volatility returns not correlated with the stock market
- Substantial property equity cushions to protect your capital (loans are made at low loan to value ratios)
- Even high quality borrower are unable to obtain traditional financing because of the credit crisis therefore we are lending on higher quality borrowers
- Property values have begun to stabilize in many areas lowering the risk of private lending
(an equity cushion, title insurance, attorney preparation of loan documents, hazard insurance policy, a chance to perform due diligence, short term notes 6 – 9 months is typical and you wire your funds direct to a 3rd party – a title company for closing)
For investing opportunities, contact Joe Benucci.
This is not a Security. The information provided herein is not intended to be for the purposes of soliciting a Security under State or Federal regulations. This information is intended to give the private investor alternatives to stock market investments, but is not intended to be a solicitation of a Security under SEC rules and definitions. This is intended to be a private borrowing transaction.
Are you direct lenders?
Yes. We are direct private lenders. We are not brokers.
How fast can you close a deal?
Once we have approved a deal and borrower wishes to move forward, we issue a Commitment Letter which details our loan terms and conditions. Borrower has to sign it and return to us. Upon our receipt of said letter, we can typically close within 10 to 14 days (barring any unforeseen issues with title and/or property inspection).
Where do you lend?
Virginia, Washington DC, Maryland, South Carolina and Florida
Do you lend on “as is” value or future value?
Both. If a property does not need repairs, we will lend up to 70% of the “as is” value. If property does need repairs, we will lend up to 70% of ARV (after repair value).
How do you calculate property value?
We look at sold comparables, DOM (days on market) and active listings to help us figure out value. Our target price range is a 90-day sales price.
Do you look at credit scores?
No. Credit scores are not a factor for approval. While we pull a credit report for each borrower, we do not evaluate trade lines or credit scores. We do, however, review the “Public Records” section to make sure there are no open judgments, liens, and/or bankruptcies.
Do you escrow for repairs?
Yes. We place repair money into an escrow account at settlement and reimburse you in draws (as the work is completed).