Can we finance your next real estate project?
Let's build together.
How it Works
We make borrowing easy
About Us
Consider this an outstretched hand...
Platinum Properties makes business loans to professionals who purchase, rehab and sell or refinance residential real estate, primarily in the Baltimore area.
Herb Moltzan and Larry Haynes began making loans to rehab professionals in 2011, and they made their first loan to Mike Casey, a local real estate investor. At Herb’s retirement in October 2019, Mike Casey stepped into the partner role and joined Larry Haynes in Platinum. They each have developed relationships with borrowers and have an in-depth understanding of the flipping business. Mike and Larry personally make loan decisions and, because they bear the financial risks of individual loan outcomes, see themselves as their borrowers' partners.
- No interest payments for 9 months
(interest accrues from the time of the loan, but payments aren’t required to be made for 9 months) - We loan 70% of the After Repair Value (ARV) of the house.
Depending on the cost of the house, there may be no upfront cost to the borrower. - Loan is 6 months, 12% and 2 points.
We grant an additional 3 month extension after that period, for an additional point.
Featured Project
Making our neighborhoods better, together
22%
Profit
| Purchase Price | $65,000 |
| Rehab Costs | $82,646 |
| Platinum Loan Amount | $163,000 |
| Sale Price after Rehab | $238,000 |
| Loan Repayment + Interest + Closing Costs | $195,000 |
| Profit | $43,000 |
Looking for passive income? In 2018 and 2019, our private investors earned
9% for a three-year commitment