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12 February 2024 | 11 replies
Most work this way: Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 2-5 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $200,000 we charge $2,500 minimum)Max Loan: 65% of After Repair Value(ARV) 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 10 business days)We have private lending partners throughout the entire United States that cover the following states: AL, AZ, AR, CA, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OH, OK, OR, PA, RI, TN, TX, UT, VT, VA, WA, WV, WI, WY.
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12 February 2024 | 12 replies
They already know your track history and plans.Also, if you plan to scale, you will be able to cross collateralize between properties and loans, if you are with the same lender.
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12 February 2024 | 20 replies
Most work like this: Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 we charge $2,500 minimum)Max Loan: 65%-70% of After Repair Value(ARV) 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 WeeksWe have private lending partners throughout the entire United States that cover the following states: AL, AZ, AR, CA, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OH, OK, OR, PA, RI, TN, TX, UT, VA, WA, WV, WI, WY.
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12 February 2024 | 20 replies
If you have different investors involved in the various projects who each have membership interest, this would require separate LLC's and in some instances if different lenders are involved they may not want other lenders collateralizing assets titled to the same LLC.
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4 September 2016 | 2 replies
Also if I need someone to put funds into my account, what type of collateral would I need to put up?
5 September 2016 | 24 replies
Its not very much money and if you put the deed up as collateral I can't believe you can't get 20 k to finish it up quickly and move in or see what the market does for you.
22 September 2016 | 5 replies
Especially if the collateral is going to be a second position note.
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9 September 2016 | 2 replies
My bank is offering to use my rental property which I acquired last year as collateral to lower the down payment from 20 to 10 percent.
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10 September 2016 | 14 replies
They 5 are: Character (reliability, integrity), Capacity (sufficient income or cash flow to service the debt), Capital (the borrower's net worth or how much of their own money they put into the deal), Collateral (the value of the assets that secure the debt), and Conditions (the borrower's situation and the state of the economy or local real estate market).