All Forum Posts by: Jerry Tuzil

Looking at some vacation rentals on the golf course in Eagle Ridge in Galena, IL

Is anyone familiar or had any luck with vacation rentals up there?   

Brandon,

The only "hard money" lenders that do 100% financing is if they are partnering up with you and taking a percentage of the deal and maybe charging you an interest rate as well.

If they are a true 100% lender everyone on this site would know about them.

i have several sources of hard money if you[ have any questions let me know

Jerry  

Christian,

if regular commercial bank financing does not work i have other options that can go as high as 75% LTV. basic criteria is the rehab has to be completed and a lease in place. they dont really care about the cost or seasoning.

Jerry   

susan,

It all depends if your buying it as an investment property and you go conventional you would have to qualify for the loan and the rates are a little higher but not much. Only problem with that is the fix part of the property how bad of condition the property is in to even go conventional and you would have to pay out of pocket for the re-hab. If you buy as investment fix and flip then you have to go hard money or Alt A then the rates would be higher. should not matter whether you are out of state or not we deal with many out of state borrowers. the normal practice is go hard money get the property stabilized quickly and then refinance out to a landlord product if you are buying and holding 

Jerry  

casey,

let me try and get this straight, you are want to put 25% down then get the 25% back you put down from a relative after closing or would you rather have the relative just give the 25% down upfront and get the loan?

Jerry  

Patrick,

I know some good programs that can even go to 100% financing for fix and flips if need be. 

call me direct 6304705918 if you have any questions

Jerry 

robert

I can help you out give me a call 6304705918

jerry

Maria,

I have a good one and can get you in touch. What is it you are looking for in the re-hab?

Jerry 

ok great, just need to put a good lending package together 

I can help you with that if you need. 

Jerry 

Robert,

If I am reading your title correct you are doing a FHA 203k loan? Those would have to be bought by individuals, cannot be bought in a land trust. You can still put the parents on he loan and you gift the down payment to them

Jerry