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Updated about 10 years ago,

User Stats

864
Posts
509
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Darrell Shepherd
  • Rehabber
  • Smyrna, GA
509
Votes |
864
Posts

Need money for deals? Here's the best institutional money I've seen.

Darrell Shepherd
  • Rehabber
  • Smyrna, GA
Posted

The good stuff:

2.5% Origination, $199 app fee (can go down with volume)

Rates as low as 8% (10-12% is typical, based on experience & LTV)

6 or 12 month term

Up to 80% LTV (I don't know why you'd want to buy at 80%, but its there if you do)

100% financing available for purchase AND renovation

No tax returns (will need 3 months bank statements though)

No appraisal, ARV is done in house

Virtually unlimited capital (this is hedge fund money)

500 min credit score

The fine print:

$50k max rehab budget

Residential only (1-4 units)

Need to have 3 months of payments in liquid reserves

Currently only available in GA, TN, TX, CO, WA

This is the best institutional program I've ever seen.  Hit me up if it looks like it'll fit your business.  Application is online and pretty simple.  

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