Dr Daniels and Son

About Dr Daniels and Son

Dr Daniels and Son is hard money lender headquartered in Bloomfield Hills, MA. They offer funding throughout Michigan. They offer lending solutions for many different scenarios, including commercial loans, bridge loans, and fix-and-flip loans. They offer loan amounts ranging from $10,000 to $500,000. They will make loans on many types of properties, including multi-family, apartment buildings, office buildings, retail spaces, hotels, storage buildings, senior housing facilities, mixed use buildings, warehouse buildings, industrial facilities, medical facilities, and undeveloped land.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, Bridge Loans

Property Types Covered: Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical, Land

Areas Served: MI

Licenses: NMLS #138110

Lending Guidelines for Dr Daniels and Son

Below are the general loan guidelines published on the Dr Daniels and Son website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Dr Daniels and Son.

Loan Example 1

Alex is a real estate investor in Detroit, MI. He discovers an older property and decides to rehab it and flip it for a profit. The house costs $370,000 but he doesn't have the full amount so he takes out a hard money loan with Dr Daniels and Son. The loan to value (LTV) on the loan is 55%. This means that Alex will need to bring 45% of the sales price to the closing and the principle will be $203,500 on the note. The deal also has the following features: 1) a 18 month term, 2) a 12% interest only note, and 3) a one point origination charge.

Therefore, Alex will be required to contribute a $166,500 down payment in addition to paying a $2,035 origination fee. After the deal is closed and Alex takes on the property, he will begin making monthly payments of $2,035 to the lender ($203,500 principle x 12% / 12 months). If Alex meets his goal of a $536,500 sales price when the loan term expires, he would collect a total profit of $127,835 after repaying the principle on the note and subtracting the money he brought to closing, the origination fee, and the total interest payments.

Loan Example 2

Angel is a an investor in Detroit, MI. He finds a run-down property for a remodeling project and obtains a hard money loan from Dr Daniels and Son with the following paramters:

a) A $310,000 purchase price, b) a 60% loan-to-value (LTV), c) a 12 month term, d) a 12% interest rate, and e) a 3% origination fee.

Angel intends to list the project when the note expires for $434,000. If he accomplishes his goal, the final numbers will be the following:

$434,000 sales price
- $186,000 principle (60% LTV)
- $124,000 cash paid at closing (40% on 60% LTV)
- $5,580 origination fee (3% of the $186,000 principle amount)
- $22,320 interest payments (12 months x 12% interest)
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= $96,100 total profit (doesn't include taxes or rehab costs)

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