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9 February 2008 | 9 replies
I offer an 80 ARV FULL DOC rehab program for investors with a 25 amortization with rates currently set at 7.34%---roll in purchase + repairs + closing costs (need to make mortgage payments, but they are I/O)---advances 10% of the cost of repairs at closing (this is unheard)---641 FICO required---100% financing possible...Regards,Scott Miller
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10 November 2011 | 31 replies
Hence, your pitch will need to focus on safety through long-term cash flow and you will undoubtedly need to create a high level of trust and hold their hands through the entire process.1) I have had luck with doing I/O payments in order increase cash flows.
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19 November 2011 | 27 replies
Minus the I/O payments, that is a total $315,000, or 31.5% ROI off of his initial $1,000,000 investment.
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12 February 2013 | 4 replies
For instance, if you get a 5/1 ARM IO the first 120 months is interest only no matter what the market rate adjusts to after the initial fixed 5 year period.My advice to my clients is that you should only do IO with more than 25% equity and in an appreciating market.
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6 May 2013 | 5 replies
Short term, less than a year, interest only loans are fine for certain purposes but an I/O loan on a longer term basis is not the norm nor would it be a good idea long term.True private financing is something you negotiate with that individual, the rate, term, amortization and other requirements would be set as agreed.
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29 January 2014 | 9 replies
If I am in Fla where I don't have mls access and I find a house I am interested in, I will open the zillow app, on my pad and drive the street looking at all the yellow (sold) houses, houses move along on the pad as you drive the street, its a fast and rather fun way to get you in the ball park.
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20 April 2008 | 13 replies
A marginal investment (good only because your IO payments make it acceptable) could quickly turn into an albatross.
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8 April 2008 | 6 replies
I can place this w/ my private banking division but 80% would definitely take some cross-collateralizing or a large money market deposit.my typical terms:5yr IO ARM6.25-6.75%1.5-2% to close (all other fees covered)Call me if you would like to discuss 480-383-8665 (direct) 480-773-5565 (cell).best of luck to you and your client!
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25 April 2008 | 4 replies
make sure the values there and in 1 year refi at 5.5% if values arent there in 1 year you could loss it on a IO option if its neg am
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4 September 2018 | 12 replies
., you probably are talking like 9.5-12% I/O, a few points, maxed out at 50% LTV, if it's bare dirt.