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Updated over 1 year ago, 06/16/2023
Looking for Property Manager and Real Estate Agent for 48224
Hello,
WRONG TITLE, CAN'T DELETE POST
TITLE: Fellow Investors, do you know of any Sharia Compliant Loans?
I'm an investor out of CT. My partner and I have 3 properties that we are in possion of and desire to do 6 deals by end of the year.
I'm looking to find Credit Unions, Lenders etc that provide Sharia Compliant Loans. As a Muslim I am not interested in traditional interest backed loans. So I am looking to do my first few deals (before the need for portfolio loans and private capital) with sharia compliant loans. For your information, a sharia compliant loan requires the lender to have skin in the game and make profits from rental/lease agreements with the buyer. What would normally be interest is revenue and what is customarily principal becomes shares in a partnership between the buyer and the lender.
So far I have found UIF, Guidance, Devon and IJara.
Has anyone else found further options? I am ok working with these, but the more options and possiblities the better deals can be made.
Thanks & Cheers,
R. Ali