Broker Scenario #1
Problem: A 6-unit town house construction mortgage with 3 draws. Client ran short of funds near end of build. Broker had pre-approved take out well above our mortgage but only after the lien period expired.
Graysbrook Capital Solution: We advanced another 10% and placed restrictions on the lien holdback.
Broker Benefit:Client was able to complete build & exit to a traditional lender. Broker built rapport with the client for future builds.
Broker Scenario #2
CRA Debt blocking traditional lender
Problem: Client was looking to re-finance, but owed CRA debt. Bank would not approve until CRA debt was paid.
Graysbrook Capital Solution: We loaned the funds to pay the CRA debt, then client paid us out in 15 days. Our lender fee is typically 6% but for these fast turnaround deals we discount to 4% because of the quick exit… Once again, all parties were pleased.
Broker Benefit: Broker received a fee on our mortgage as well as on exit.