Financing and Credit

Is there anyone out there who knows s private lender who lends out to proven real estate investors? Also that has better flexible terms than you can get from a hard money lender?

ThanX
Johnnie

I was trying to think of new creative ways to get funding for potential deals. I had came accross a web site a couple years ago where you can ask for a loan up to 25K. Once you ask for a loan other memebers can put money in to fund your loan. This is the concept as I remember it. Their website is still around so this may be a creative way to get a loan. I am not a part of the site and am not getting any referral fee. This is just something I thought would bennefit some of Deans students.
Here is the website.

http://www.prosper.com/

I have been searching for funds and am very leary of some of the things I have found. There are some hard money lending sites that have different names and different email addresses, but their physical address is the same. Are there some ways to know a lender is ligitimate & safe? Does anyone have some good recommendations of private money / hard money lenders because of personal experience with them? Any help would be greatly appreciated.

Yesterday I found a 15 Unit complex for sale with Owner Financing. Asking price is $498,000.00 with 15% down. All Units are occupied and its generating a Cash flow of $6,132.25 net. My question is how do I come up with the 15% down? $74,7700 is way more than I have on hand and Conventional lenders can't help because of average credit and no assests. What are some affordable optontions for my Financing of this project. I have an APOD if anyone needs a closer look, just PM me. I do have an LLC.

Buying Real Estate Subject To The Existing Mortgage Part 2 of 3

By Donna Robinson

The details of what to include in a subject-to offer. A subject-to offer is like any other written offer to purchase real estate. It uses the same general purchase and sale ag...

The author has permitted the reprinting and redistribution of this article.

Writing The Offer

A subject-to offer is like any other written offer to purchase real estate. It uses the same general purchase and sale agreement. There is no special contract form required for subject-to transactions. The buyer merely wants to spell out the exact terms of the existing mortgage, along with any other terms or conditions that the buyer is offering.

A proof of funds letter can help a business get additional financing for technology, real estate, high cost machinery, or construction by showing that there is money to cover the transaction.

The POF indicates legitimacy to all parties involved no matter what type of project.

A Proof of Funds is great when you want to prove that you’ve got the ability to pay outright, but you don’t want to use your own funds.

Most small or mid size companies that are positioned for growth do not have the financial ability to make their future plans happen. That is where an investor group with POF security can be the key to taking a business to the next level.

hi

AM wondering the best way to finance buy and hold properties.

Been searching for a portfolio lender, as that may be best way. There is partial seller financing being offered and would like to finance the rest with assets/income produced being the basis for loan.

Any pointers are helpful.

THanks,

Gil

Over the last few years I have been learning how beneficial self-directed IRAs can be when used appropriately. If you have money in a 401k or IRA you may consider looking into using that money in a self-directed IRA. One thing that I love about it is that you have total control of your IRA. You can choose the investment you want. You can see it and touch it. It is a hard asset!

I've located several properties that I could purchase for cheap but I have no money and my credit isn't very good. I've been looking at different grant websites and I'm wondering if these sites are ligitimate. Should I pay for this information. Is there a way I can find grant info for free. I don't want to pay for useless information.

I'm really excited to do my first deal. There are 3 or 4 properties right on my street that with a little rehab could be nice rental properties. I just need the money.

I am already acquainted with contractors, etc. so money is the only issue.

Can someone please point me in the right direction.

Thank you to my DG family.

Keely

Recently I was asked by someone that wanted to raise their credit lines and credit score how many credit cards they should hold.

The biggest item for this is that cards you do not need a lot of to raise your score. What you do need to raise your credit score is longer ownership of credit cards. Cards that have been kept less than one year can actually play against your credit score. So...if you want a good credit score hold a few cards a long time.