GL&L Holdings

About GL&L Holdings

GL&L Holdings is a Houston, TX based hard money lender. They offer loans in Houston. They provide loans for a variety of needs and situations, including fix and flip hard money loans, loans for investments properties, and commercial hard money loans. They provide loans with a maximum LTV of 70%. They make loans on all of the following property types: single family, multi family residences, apartments, offices, retail units, mixed use buildings, and warehouse buildings.

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

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Mixed Use, Warehouse

Areas Served: Houston

Lending Guidelines for GL&L Holdings

Below are the general loan guidelines published on the GL&L Holdings 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 GL&L Holdings.

Loan Example 1

Fannie closes on a $390,000 rehab project in Houston, TX, using a fix-and-flip loan from GL&L Holdings. Because the lender agrees to a 70% loan-to-value, Fannie will need to put 30% down and the principle amount of the loan will be $273,000. The loan is interest-only, paid monthly, and is for 12 months at 10% interest with 3 points paid when the deal closes.

Therefore, Fannie will be required to contribute a $117,000 down payment plus pay a $8,190 origination fee. The lender will collect $2,275 in monthly interest from the Fannie. This is calculated by taking the full loan value of $273,000, multiplying that by the 10% rate of interest, and then dividing that amount by 12. At the expiration of the loan, she sells the rehabed property for $565,500. After deducting the $27,300 in total interest payments ($2,275 multiplied by 12 months), the $8,190 origination fee, the $273,000 principle amount on the loan, and the $117,000 she contributed to closing, she will make a total profit of $140,010 ($565,500 price minus $425,490 in total costs). This amount would then be reduced by any renovation costs paid out of pocket.

Loan Example 2

Leonard locates a house in Houston, TX to renovate and re-sell. Because he does not have enough cash to buy the property outright, he takes a fix and flip loan from GL&L Holdings with the following parameters:

a) A $180,000 sales price, b) a 50% loan to value (LTV), c) a 12 month term, d) a 14% interest rate, and e) a 2% origination fee.

Assuming a $243,000 sales price at the end of the 12 month term, the final numbers for the deal would look like this:

$243,000 sales price
- $90,000 note principle (50% LTV)
- $90,000 down payment (50% on 50% LTV)
- $1,800 origination points (2% of the $90,000 principle)
- $12,600 interest payments (12 months x 14% interest)
-----------------------
= $48,600 total profit (does not include taxes or rehab costs)

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