Financing and Credit

I recently came across a site, www.PrivateMoneyGoldmine.com, and I'm wondering if anyone has any reviews or comments about them. It seems like a pretty great program, but wanted to see if anyone had any experience before I tried them. Thanks so much and have a Merry Christmas!

Hello all!

My partner and I are looking for a private investor for a line of credit. We both have excellent credit and 3 properties owned free and clear (worth about $360k all together) but are both self employed and our taxes show a low amount of income. Because of this banks have been turning us down left and right. What we'd like to do is put a LOC against one or more of the properties so that we can start having access to the capital to make all the deals we're coming across happen. Would love for someone to help us out. Thanks so much!

This is a Wholesale House @ $68,500. Sorry for the short notice I was going to keep this light rehab house to flip, but another "sold" rehab did not close as planned. So this will be a Fast Close! This is a Great 4 bedroom brick home located in a beautiful east side neighborhood, with 1 Bath, a Full Basement that needs some minor repairs and paint. It has a good roof, 2+ car garage. This is a Single-Family Home, being sold as is. Located at 249 Jacob Street, Green Bay WI 54302. The average sales price for similar recently sold homes is $116,000.

Thanks For Your Consideration,

Paul/APS Real Estate Investments, LLC.

Help! We just found out that our closing is for tomorrow! We need $100,000.00 by tomorrow. Any suggestions? ARV $170,000.

I have a flip home in great condition, 60 cents on the dollar, coming under contract. I need some private money to make this deal happen.

So far I have partnered with another fellow investor who is using his experience and credit to acquire a Hard Money Loan, we have experienced contractors in place ready to go, the home is in a great market and we have all documentation needed to make people feel comfortable that they will profit from this transaction. Because of the wide spread and our conservative estimates we have the ability to be very flexible with our private lenders.

If you are a lender or know where I can find them- please let me know- thanks!

Hello,

I am looking for funding in central Minnesota, ideally a loan between 40-70k, I have 640 credit score, and could put down 10%. This would be for an investment property, would like to find someone who I can do multiple deals with. Let me know if any of you have the ability to do this.

Thank You

Excellent advice from Dean on that video.
I'm confused on one bit though.

I'll illustrate with Dean's numbers:
Say I buy a property with hard money: $75k loan. I pay $50k purchase and $25k rehab. FMV is $100k. All fixed up the property can rent for $1400/month. Here is my confusion:
If I get an 80% LTV, 5/1 ARM commercial loan from a 1-month season bank at 5% interest like Dean says then the principle and interest on that loan comes to $1,509/month. That is negative cashflow rent of -$109/month. And that is before taxes and insurance.

This particular property would be purchased at 50% FMV. I don't see how money can be made with this strategy. I must be missing something. Can someone please explain?

Kind regards.
Caz

Does anybody know where to get lists of Private Lenders or Private Money at??? Not Hard Money though. I realize this is something I need as part of my power team and any information from those that have walked or are running down this road would be greatly appreciated. Thanks, Louis

I am having difficulty getting information regarding refinancing properties in the USA. I am located in Canada and I understand that it is not possible for a Canadian to refinance currently owned properties with financial institutions in the states. Any information would be appreciated.

From a MoneyWatch Story:

Rates for the week ending Nov. 15, 2012 are as follows:

30-year FRM averaged 3.34 percent, down from last week's average of 3.40 percent. One year ago, the average for a 30-year FRM was 4.00 percent.

15-year FRM averaged 2.65 percent, down from last week when it averaged 2.69 percent. At this time last year, the 15-year FRM averaged 3.31 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.74 percent, up from last week's average of 2.73 percent. A year ago at this time, the 5-year ARM averaged 2.97 percent.

1-year Treasury-indexed ARM averaged 2.55 percent this week, down from last week when it averaged 2.59 percent. At this time last year, the 1-year ARM averaged 2.98 percent.