All Forum Posts by: Logan Turner

Just a heads up. Some guy using the name of a legit lender in Michael stone is trying to gather information from people pretending to offer loans. Obviously if it sounds suspect or ridiculously good, don't send any personal information. Ex. 2% interest from 1,000 up to 100,000,000. Haha. I asked and he said well it's only 20 million for first time borrowers. I said ONLY?!! I'll need at least 40 million for my 3/2 SFH project. Lol 26 COURT STR, STATEN ISLAND, NEW YORK UNITED STATES OF AMERICA Tel: +1(929)220-2792 +1(917)724-0589 Fax: +1(844)828-9177 Good day , We received your email and noted the content of the mail. We offer Online Loans at 2% interest rate with flexibility in the Repayment Plan. I wish to let you know that it takes not more than 7 working days for you to get a Loan within $1,000 to $100,000,000 and more days for much bigger Loans because of the Verification and Authentication process involved. So, if you are willing to go on with us at this Interest Rate, write back immediately so that we can continue this transaction without any further delay. And as for your getting the loan, i want you to know it is going to get to you via Telegraphic bank to bank transfer and getting the loan depends on how fast and meeting with our requirements are. So we will be waiting the following information in which we will use is starting the processing of your request. Once we get these informations we will send you our full company details. YOUR PERSONAL INFORMATION First Name: Last Name: Sex: Age: City: State: Country: Mobile Phone Number: Fax ( Optional): Occupation: Credit score: Current Position In Place Of Work: Your Monthly Income: YOUR LOAN INFORMATION Amount Needed: Duration: Purpose Of Loan: I will be waiting for your response with your question in the area where you are not clear. Thanks Michael

Thanks @Bill Gulley for the great information. 

It is an investment property. It is currently being rented at $1400/mo. My estimation when lease expires is that it will rent for $1100-1500. I was just giving a heads up on the deal.

Ok, i'll call up my local title company. Thanks again

Forgive my naivety, I am in Texas and have agreed on an interest only contract with a balloon payment at end of 6 years. This will be my first one and I have a few questions i need help with.

1. Do i still transfer deed in my LLC name, and record the sellers lien against the property? (like a traditional mortgage?

2. Would a land contract be more beneficial until the payment balloons? 

3. Do i need a real estate lawyer to draft this up for me?

 Seeking opinions on what you all would do / do do, not soliciting legal counsel or recommendations. Yes i said "do-do"

Deal: 4% IO. downpayment 10k. Sale price 81k. Balloon payment of 71k due at the end of year 6. IO payment would be $234 monthly. Rent $1100-1500/mo. C+ neighborhood (safe at night). Current value $100-120k

Bump*

57 sex offenders within 0.5 miles of the property. Metal bars on the Windows. D class neighborhood. Property has some worth but the investor better be really familiar dealing with that type of renters. Good luck on the wholesale.

Ok I'm interested..

Seeking private money lender. Loan of 25k secured by an 85-90k property. I'll have 20-25k of my own money in on the deal as well. Short term loan. 3, 6, or 9 month term. Let me know your rates :) I'll be backing the loan. Credit score 750. W-2 180k Seeking interest only loan with balloon payment at either 3,6 or 9 months.

if anyone is interested in talking about some deals, heres a recent one i have...

House 2/1 910 sq feet, lot size 9667 sq ft, right by High school in C+ neighborhood (ABCD)

Purchase price 43k

Rehab 8-16k (high end if we remodel entire kitchen)

ARV 80-95k

Rent 950-1100

I usually pay 6 months of interest upfront at 9-13 percent

I have deals for purchase from 30-50% ARV all day long. This offers great returns, with a first lien position on a properties with plenty of equity. I'll also usually personally back every loan with my secure 200k w-2 income.

permianhomebuyer.com

[email protected]

432-235-1666

Thanks

Logan Turner

ignore. delete please

i have a property looking for financing:

Purchase 43k

Rehab 8-16k 

ARV 80-95k

I have 35k in my account, so i can show liquidity. 

What are the terms?  points? fees? interest rate? Prepayment penalty?

Thanks