Financing and Credit

Hello.
I am very new at this and just starting out. I'm a single guy living in southern Minnesota and I am looking for an investing partner that has some real estate investing experience where they have completed at least one or more deals.

I am looking to make deals in south central Minnesota such as Albert Lea, Mankato, Owattona and Rochester as well as parts of the southern Twin Cities metro to the north and as far south to Mason City Iowa.

My investing partner would need a FICO score of 700 or above and any deals we would do we would split the profits 50/50.

There is a gal that is buying one of our properties who has really caught my attention. In my mind, she has embodied the word “determined“. Let me tell you why.

When you are creating a seller carry-back note there are several things to look at. Here is a list of things that you should take into consideration when dealing with owner financing.

Step 1. Credit Check - The person that you are trying to sell the property to must have their personal credit pulled. This is important to find information out about our buyer. Not only is this information valuable to us, it is important to our note buyer.

I am wondering if anyone who has a credit score of 660 or higher would be willing to cosign on my realestate loan with my private investor. I will pay $20,000.00 to you at close of these deals. They are willing to loan the money to my company they would just like to see one of my principal members of my LLC with a 660 or higher.This loan will not show up on your personal credit. Please send me a PM and I will go over the deal completely with you.
Thank you for your time
Donna

Closed on my first deal on Friday. Three bed/ one bath with 1600 sq ft. Picked it up from the bank for 15,150.00 Took forever to find an investor but finally got it done. This is all he is looking at taking on right now so if I could find another source for funding I would close on six more deals better than this in the next 10 days. It all happens for a reason is what I keep telling myself. Thanks for all the advice everyone has given me. It's been a big help! Brad

Hi DG Family,

Does anyone have a Hard Money Lender in Oregon the would like to suggest?

Thanks

Ok now I have a huge wall in my way and I don't know what to do. My credit score is not great and also in the ch.13 bankruptcy. I been to a few bank to try to get a loan it not happening so I was trying to find out what to do now? I really have a thing to make money through rei but this is my brick wall can anyone please help me? I need help more then ever now!

Hi everyone.

I was wondering if somebody could give me some advice as to how to find a good mortgage broker and title company. Does anybody know somebody in Miami area?

I also wanted to know if anybody knows if we can assign fannie mae properties or do a double clossing. Please respond if you know. I'm new at this. Help!

Good afternoon! I just received a "soft" commitment letter from hard money lender Northwest Capital Services, LLC located in Spokane, WA. I've been talking with Ed Franklin and he asking for $565.00 up front to move forward toward a final approval in 2-3 weeks after they research the properties I have forwarded him info on. They loan 65% ARV and the properties need very little repair. I'm "approved" for 100k and the ARV should be in the 300k range. Any thoughts would be greatly appreciated. Am I being too careful or is this how the process normally works?