All Forum Posts by: William Ware

I'm seeking a private money loan for a 3/1 single family in Ypsilanti, MI. $25K cash offer has been accepted and closing is scheduled for 11/19. ARV is $35-40K. Long term plan is buy and hold. Rent $850-$900. This would be my 7th rental property, 6 are paid off, all are rented. I currently have the cash for purchase but looking to stay liquid as I have 2 other properties (duplexes) in the works. This is not a brick home but does have a one car garage. Repairs should be between 3-5k. I have my own team for the repairs (family).
Send me your terms if you're interested.
Bill

Jason
I plan on holding this property as a rental. I would like to find a private money investor with good terms and within a year refinance with my bank. Please email me if you would be interested in the deal as I see your a "lender".

Thanks for the information. The house is in Washtenaw county near Ann Arbor (Ypsilanti). I agree..I stay out of Detroit..but starting to change my mind

Good Morning
I'm curious on what would be your acceptable rates on a hard money loan? Would you also consider a private money loan the same type of loan? What are the rates that are currently being offered?
My cash offer was accepted on a 3/1 in SE Michigan and I was thinking about using a hard money lender to finance the deal. I currently have the cash but would like to remain liquid on this deal to further increase my portfolio. This would be a rental property with a monthly rent between $800-$900. Cash price is $25000 with an additional $2-4k in rehab.

Welcome aboard from a fellow Metro-Detroit investor. I've been on the site for a year now and still learning something new each day.

Thanks for the great spreadsheet.

Thanks guys for some great insight...and yes I do sleep well at night. Financexaminer a plus one vote for your post.

Just wondering the pros and cons of each. Currently I've purchased all my deals (buy and hold) with cash..but was wondering if I may be missing out.

Thanks...I call it Detroit's sister city. I heard Springboro was a great place to start looking as well as Beavercreek.

Job transfer has me heading to a northern suburb of Dayton. Looking for some advice has to where to buy a SFH. I would like to buy a diamond in the rough in a great neighborhood. Can anyone point me in the right direction? No problem with a 20-30 minute drive to/from Trotwood, OH.