All Forum Posts by: Chris Blanks

I don't see a signature. What web site is this. I'm interested in the same thing?

Real Estate Lenders,

Professional home inspector, rehabber and military NCO in search of honest lenders to help fund my full time property flip business the Oklahoma City and surrounding areas. Construction team to include two full time project managers and full time realtor is already in place.

Usually we turn houses in 1 - 3 months depending on weather and usually they sell in 5 months or less to include rehab time. Last house sold in 3 weeks. If interested please call...

Bill.

I'm looking to purchase a house with a note and then, at closing, have the note sold to a predetermined third party so that the seller would get cash for the deal. I would then immediately flip the property and pay off the note.

PROS:
- The note is an 80% loan-to-value
- there is a 10% interest rate on the note
- I have excellent credit
- a sum of cash would be offered to the new owner of the note as an
incentive
- an early payoff penalty would be in place on the note

CONS:
- there is no payment history since the note creation and trade will take
place almost simultaneously
- there was no down payment paid to the seller of the house

Are there any firms that would accept a note like this? It seems to be a pretty secure one, but I suppose it would be unorthodox.

I'm glad I found this topic...I'm sure a note guru can give me answers.

I currently do short sales (buy preforeclosures by discounting mortgage) and sometimes the discount doesn't give enough spread for me to buy the home and wholesale it...but they do get discounted..20-25% leaving 80-85% LTV...attractive for someone who wants to live or hold on to a property.

I usually let the seller in preforeclosure know that if I can't get the discount down to 70% LTV or less they may face foreclosure.

I would love to help more of my clients, especially when I get a discount.

Is it possible for me to sell the home to an owner occupant with owner financing and do a double closing? Basically, I would find a buyer who will pay 100% LTV or more for the home and sell the note at closing.

I talked to another investor who said it was possible and that I need to find a note buyer in my state who understands what I'm doing and find out what their criteria are. I would create the notes for whatever interest rate they are looking for, property types, note terms, etc.

I checked out a company who brokers notes and they had underwriting criteria that require 3 months seasoning on notes....so this would only work for a rehabber who gets conventional financing to pay for properties. Unfortunately, when the lender gives a discount the funds are due quickly, so conventional financing is out and so is hard money (70% LTV) so, paying for the home, then holding the note for 3 months is out.

I come across this a whole lot since plenty of homes that I get discounts on are close to 100% financed and even upside down when I get the deeds.

Any help or direction to notebuyers that do this would be greatly appreciated. I would love to have another creative way to handle preforeclosures.

Thanks.

I am looking for sources of investment money to buy and sell undervalued.rehabs and repos in and around the Stockton Lake area of Missouri.Any help wil be greatly appreciated. :mrgreen:

Hello and thank you for your time

Our associate owns 250 acres of land in Indio, CA. The property is 20 min from Palm Springs, is near a few casinos, and is off the I-10 from Phoenix. Comps in the area show the land is selling for 300k an acre. Let's say that 300k/acre is inflated and we'll use 200k/acre. At 200k/acre that puts the value of the prop at 50 million. Along with sfr's our associate will have a golf course built on the prop. This golf course is a patented design on a new layout. This layout gives our associate the ability to build twice as many lots as a regular subdivision. Using it, he figures a low estimate of 100 lots per 80 acres which would produce 300 lots on this golf course.

Our associte is seeking a private investor to invest a minimum of 3 million. This infusion will be used to start the subdividing process. In return for the investor our associate is offering lots on the prop that would at least double their money. If the investor is not interested in owning lots, the return to the investor will be double their investment in 1 year when his development loan is recieved. So, investor comes in with a minimum of 3 million, and is payed off with subdivided lots or with money stemming from the development loan. Our associate also owns large acreage in other great locations, and would be open to discussing offering lots in those areas as repayment as well.

Our associate is looking to move fast on this, like, yesterday. I imagine that there will be a lot of interest in this opportunity, so don't hesitate to respond. As I stated above, our associate has land in other areas that he will be developing as well. Point being, there will be other opportunities for an investor to work with him in the future on other great real estate investments.

We are looking for responses from investors and those direct to investors only. Please only serious inquiries. This is a serious opportunity and we are not looking to waste anyones time, nor have our time wasted by tire kickers. We do look forward to your response. Thank you very much.

I have a 2000 acre oceanfront property in the Yucatan in Mexico that I need a lender for. I need at least 65% ltv and must close by April 20th. I must also have a committment letter asap to make the client happy. The property will be divided into 100 oceanfront lots (at $75k per lot minimum) with 2000 acres (including 300 meters of ocean frontage) left over for future development/sale. This deal is very solid with comps next door that were developed in the same manner. I have the financials and an executive summary already put together. This client has 2 other successful real estate deals in Mexico that she developed in the same manner and owned free and clear. Any deal must be broker protected ('cause I gotta eat to). If you know someone that could do this email me at [email protected]. Thanks for your help.

Being the newbie that I am, and being from West Chester, PA, I'm wondering what my best options are for receiving this information the fastest, whether this be online, bank connections, etc..

Any help would be very appreciated, thank you in advance.

-Ryan

This building will appraise for around 300k but i got a contract on it for 80k need some financeing. we are useing the building for our office/wharehouse. some help would be nice