About Gorilla Capital
Gorilla Capital is an Eugene, OR based private lender providing funding throughout Eugene and Portland. Their lending focus is mainly on fix and flip hard money loans. Their lending guidelines are flexible, including loans with a maximum LTV of 90%. The focus of their loans is for single family and multi family.
Loan Types Offered: Fix and Flip Loans
Property Types Covered: Single Family, Multi Family
Areas Served: Eugene, Portland
Lending Guidelines for Gorilla Capital
Below are the general loan guidelines published on the Gorilla Capital website. Please confirm all terms and rates directly with the lender.
Fix and Flip LoansLoan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 90%
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/A
The following loans are for education purposes only. They do not represent actual loans executed by Gorilla Capital.
Loan Example 1
Darrell closes on a $180,000 rehab project in Eugene, OR, using a fix and flip loan from Gorilla Capital. The terms of the note include a 55% loan to value (LTV), so he must contribute 45% of the price as cash to closing, which makes the principle loan amount $99,000. The interest rate on the loan is 14% for a length of 18 months and the company requires a two point origination fee at the close. The interest is to be paid on a monthly basis and the principle amount will be paid back after the sale of the property.
On top of the $1,980 origination fee, Darrell will also fund $81,000 of the purchase with his own money, or 45% of the sales price. Once the loan is executed and Darrell takes over the property, he will need to begin making payments each month of $1,155 to the lender ($99,000 principle x 14% / 12 months). At the expiration of the loan, he sells the renovated property for $225,000. After deducting the $20,790 in interest payments ($1,155 multiplied times 18 months), the $1,980 origination fee, the $99,000 principle on the loan, and the $81,000 he brought to the closing, he will earn a gross profit of $22,230 ($225,000 price minus $202,770 in costs). This amount would then be reduced by any rehab costs paid out of pocket.
Loan Example 2
Paige takes out a loan from Gorilla Capital so she can renovate a property to re-sell in Eugene, OR. The deal has the following terms:
$300,000 sales price
85% loan to value (LTV)
18 month term
10% rate of interest
4% origination fee
Once the rehab project is completed, if Paige sells the project for $360,000, the outcome would be as follows:
$360,000 sales price
- $255,000 note principle (85% LTV)
- $45,000 down payment (15% on 85% LTV)
- $10,200 origination fee (4% of the $255,000 principle)
- $38,250 total interest paid (18 months x 10% interest)
= $11,550 gross profit (does not include taxes or renovation costs)
We had a very poor buying experience with these sellers. They were very aggressive and dont have a problem burning bridges with people. Regardless of the...
Read more on Yelp!We had a very poor buying experience with these sellers. They were very aggressive and dont have a problem burning bridges with people. Regardless of the...
Read more on Yelp!
I had a question about one of their properties once again so I decided to send another email. This time I used the "contact us" button that is attached to...
Read more on Yelp!I had a question about one of their properties once again so I decided to send another email. This time I used the "contact us" button that is attached to...
Read more on Yelp!