All Forum Posts by: Stu Stanton

What I am looking for is a very short term Private Money Loan to purchase discounted properties, no rehab. The purchase will be done in the name of the buyer, not me. These purchases will be at 75% (78% if possible) ltv or less on properties valued at $100K or higher. The maximum length of the loan would be 90 days, but most should be paid off in just a few days.

The percent of ltv includes all fees, points, prepaid interest that can be wrapped up in the loan. I am looking for 100% funding, with the buyer paying about 2-3 points or so in cash, plus the buyer’s side standard closing costs.

I would prefer to allow it to be owner occupied, since the buyer will refinance with an owner occupied, no cash out refinance. But, that is not a major requirement at this time.

Does this exist and where can I look for it?

Thanks,
Stu

***** This project is now closed 06/18/07 **************

This opportunity is available now, under the basic terms describe in original post, edited for new content.

Stu

_AjjA,

We are working with a rather large coporation and they decided to put things on hold until we close the first ones. They have to answer to the stockholders, so, coporations are careful, as a rule, about cash flow and how the money is spent.

You will be one of the first ones I will contact when they open the cash drawer again. Send me an Email with your contact information.

Stu

I'll send her your contact information and leave up to here to contact you.

Thanks again,
Stu

Thank you for the help.

She is attempting to buy in Montgomery county, Cheltenham, PA

It is her intent to live there.

Stu

I have tried every which way to get the seller to be creative, but, they just won't budge. I was hoping I could get a credit partner to purchase it and we would do a North American Services Equity Holdilng Landtrust transfer method. But, nobody wanted it.

So, any lenders out there with some creative loans. My private lenders charge too much interest to make it afforable for her.

Here is her statement:
-------------
I am trying to purchase a home in cheltenham, pa and the purchase price
is $299000. I applied for a home loan but I could only get 90%
financing. I would like 95% or 100% financing. I do not have a lot of
money for a down payment maybe 5k. My current credit scores are 553,
567,and 607. The seller stated that she is willing to give me $20,000
credit toward the down payment and the seller is very eager to sell to
me.

------------

It would seem to me that there is a downpayment assistant program out there that would help her.

If you can, please drop me a PM, email, or post here.

I'll put her in contact with you.

Stu

***** This project is now closed 06/18/07 **************

I am looking for creative Real Estate Agents that can find me proeprties of 5 mil or more under the contditions describe below.

- - - -
Property should be free an clear.

Property can be home, commercial or land.

Owner must be willing to take payments for 60 months, then is paid off.

Value of 5 mil or more

Also,

What is the current value and how was that determined?

How was the asking price determined?

- - - - -

(Please note: all properties will be submitted to the group for consideration, but not all will be accepted.)

If this is something you can work with let me know.

Stu Stanton

Scott,

Thanks for the idea. I wonder if they can tell me ones that do not have loans. I'll make some calls and see what they say.

Stu

As far as I know, any where in the 48 states.

What I need is homes 5 million and up. Owned free and clear.

Owner must be willing to take payments, I don't have the length of time on the payments yet.

We will look at any property that is retail price or lower. Must be in prime condition, no fix up or rehab.

I just looking for ideas on how to locate a property as such, before the owner list with realtor.

I do not have all the information from the benefactors yet, so, I may not be able to answer all question.

Any ideas?

Thanks,
Stu