Financing and Credit

Everyone knows how Dean emphasizes the importance
of putting together a great team ... well because of an amazing mortgage broker Jill & I found from a real
estate agent's lead, we have just signed 2 sales contracts on two properties with buyers that I normally would have thought were just a waste off time.
As many of you know Jill & I have done about 55
rehabs on properties right here in our town, & the biggest problem we encounter is having retail end-buyers come in & want the property, but can't get a mortgage.
But with the help of this mortgage broker, we have
Buyer #1 who had a short sale 3 years ago & has NO MONEY qualify for 100% financing.
Buyer #2 had a bankruptcy about 3.5 years ago & has also qualified to buy our free & clear property that we

I am looking for suggestions from investors on how to approach potential private lenders/investors, and what to say. There are a number of people I plan to talk with.Friends, family, acquaintances, and other real estate professionals. I have not done a deal, It is hard to show them I'm credible without actually sitting down with them to lay out a potential deal. I want to peak their interest enough so that they will meet with me to discuss further. ( btw, The funds I need are for renovate, sell projects)
I also know I am not asking them to lend money. I am offering them an opportunity to make a good return on good investment, that is backed by real estate.

How would a person strike up a conversation that leads to an investment opportunity.. and what would you say??

Just wondering if this is legal in NYC or if anybody did a transaction where they used a subject-to mortgage financing?

I went out and got a property under contract, then my "private lender" turns out to be less than honest. I'm looking for $65K for 12 months, I'll pay back $78K, or 20% simple interest. I'm open to almost anything, as I don't want to lose this deal. Thanks for reading this.

Sounds great!  Do you have proof of funds available if we should want to submit an offer?

I was talking to a realtor about getting listings and she sent the above in return. I have little to no money available. How do I answer this without letting her know I want to wholesale or assign the deal? I don't want to give away that I'm a newbie looking for my first deal.

Hi, I am a newbie and I am totally confused about having to find FINANCING for the deals I find.
I attended the seminar on April 10th in Danbury CT and one of the MAIN SELLING POINTS that the speaker used was, and I quote (You find the deal, Lock it up and we fund it for 2% and a $495. fee) If that is true then why is everyone looking for financing from banks and friends and private money etc. Can someone PLEASE help me understand, is there Money from DG to buy the properties or not? If yes then why go elsewhere for money.
Thanks
Anthony

From: keepyourcastle
03/22/2012

New to this group.

Looking to buy my first home. About 5 years ago, I became interested in investing, but did not feel confident enough to

follow through (so much to learn). Now my credit is shot.

I've decided this is the year I become a homeowner--no matter

what. What are the new rules on buying with bad credit now?

I know many of the first time buyer programs don't exist

anymore.

I think lease-option or owner financing would be best for my situation. Any ideas? I'm in the L.A. area.

Hello everybody,
I have been a fan of this forum for awhile and have finally decided to join. It has been a great resource in building my real estate knowledge.

Anyways, Here's my situation

I have an accepted offer to Lease Option a 16 Unit Apartment Complex. I have a 5 year option on the building at the price of $525k, Based off appreciation in the area. The complex will be worth $638k in 5 years.

I am just leasing the building, so i don't have any risk of repairs, etc. After all my payments and expenses, the building cashflows $2000/month.

To finalize the deal I need $25k to pay the seller as a non-refundable option fee.

I may be able to help you. PM me if interested.

hi, how can i make a good looking proof of funds?

thank you in advance,
M.