All Forum Posts by: Jim Francis

Need some wisdom from my fellow BP-ers. 
I have a property that would be a great Owner Finance.
Is there anyone that can lead me in the right direction when it comes to this?
From what I'm hearing I need to have a mortgage loan orginator and title company to help me with this?

Your help is greatly appreciated.

@Stephanie Potter.....thanks for the tip. Appreciate you helping me getting up to BP speed.

I might be able to counsel them on how to get it done NOO. Trying to create a win - win.

Thanks again!

I'm sorry let me bring some clarity. She gets paid in cash and does legally write off a ton of stuff. I will try and get him to refinance and let the relationship continue as is, so he can go and purchase another home. I have info from a private lender that allows for stated loans with low LTV but the rate is a little higher. Their just not done in traditional institutions anymore. Thanks for the responses from all who have responded.

Yes. Thanks for your response Stephanie. I was thinking that possibly we could get some type of Private Money Fixed Rate Mortgage for her...she has the FICO but needs some type of stated income program...hopefully someoone can lead me in the right direction.

Thanks!

Hey I'm Jim and I'm new here. Really been loving the wisdom and networking here.

I have a Lease with Option to buy for 5 years...in the 2nd year now...have a tenant in the property that has paid on time for 2 years like clockwork.

Bought it from a soldier who now wants to get out of his VA...Tenant does not qualify traditionally for a mortgage.

Home is at about 80%LTV or close...If this was your situation what route would you take for an exit strategy?

Hey guys found a nice deal.

Looking for your favorite hard money lender and why?

Will be under 50% LTV after repairs.

If you had this deal and did not have a private money partner who would you use in Chicago?

My ears are open to the Bigger Pocket Rehab Vets!!!

Thanks

Thanks Kerry Baird you're input is greatly apprecaited. Will be getting on these things immediately.

Good Day BP Family,

I'm a rookie investor in Chicagoland Area. My mom has a $107k 203k, we would love to get her a multi-family rehab that is OO of course and refi and get cash out or line of credit on OO to put down on other properties.

 We also have $30k Lines of Credit with Credit Union and would like to buy some flips or do some Owner Financing with highly screened tenants with good down payment and then sell the notes.

Can any of the vets tell me what they would do if they were just starting and in this position?

Thanks in Advance looking forward to learning.