Lender Helps Investors Rehab Abandoned Houses In Metro Detroit
Huntington Woods, Mich. (February 2, 2011) – Metro Mortgage Investments has become a rare breed in local lending, extending loans exclusively to real estate investors to purchase bank-owned Detroit area houses with a creative equity-based mortgage product known as “Private Mortgage Lending” or “Hard Money”. “Most banks and mortgage lenders have cut metro Detroit off their maps, but for us the Detroit area is our only map,” explained Trent Dalrymple, Director.
Headquartered in Huntington Woods, Mich., the company is a Michigan licensed and bonded lender providing privately funded bridge-loans for real estate investors to purchase and repair distressed properties in Detroit and its suburbs. "We are local and Detroit is our hometown, that close proximity gives us a personal stake in what we do,“ said Dalrymple. “Real estate investors from all over the country have contacted us trying to purchase houses in and around Detroit, frustrated they cannot finance their projects through conventional means. Because of this we developed a private lending program that brings investment dollars into the area, puts local people to work repairing houses, building materials are purchased from local stores and our neighborhoods are improved. It’s a win, win, win, win, what could be better than that?”
Metro Mortgage Investments takes a hands-on approach to each rehab project, counseling investors on successful planning, manually underwriting every loan to provide personalized financial structuring and physically inspecting each property throughout the process until completion. “We have assembled an experienced team, each with over 17 years in finance and banking who understand this unique form of lending and are committed to helping improve our local communities to stop blight one house at a time,” Dalrymple states.
Dalrymple has been in Private Mortgage Lending for 25 years, taught classes through the UAW on purchasing distressed houses, is a guest expert on local radio show “Real Estate 411” on WJR 760 a.m. and speaks at local real estate investment associations. The company has launched a new web site, which includes an online application for borrowers and a form for real estate and note investors to sign up for their monthly seminar series at www.metro-mi.com.
- Contact Information
- Trent Dalrymple
- Director of Investor Relations
- Metro Mortgage Investments
- Contact via E-mail
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