Financing and Credit

I have been doing a great deal of thinking regarding all of the great deals here in Birmingham and Shelby County and I decided to "go for it" last evening with a buyer of mine. When I did my LLC through Legal Zoom, I received 20 Customized "partner certificates" and a "official seal" with my standard kit.

Having had several sleepless nights worrying about the financing of my first deal...I decided to offer my bet buyer a "capital partnership" in my company with 35% of the company (for 1 year) and free wholesaling services for the duration of the "loan" or "partnership" (explaining that I had to have deals for the company to make the money work...which he understood completely).

Has anyone used Ocean Finance for funding? If so how was the experience? Thanks in advance.

They have pretty good rates, depending on where you are or what market you are in their rates may even be the lowest.
The competetive markets
Tampa
Seattle
Chicago
Salt Lake City
St Paul
Denver
Dallas
San Antonio
Austin
Coastal Southern California

5.2%-5.4% 5 yr fixed
5.9% 7 yr fixed
6.3% 10 yr fixed

They have a fix n flip style too
on SFR they lend up to 70% - non owner occupied investment properties 4.8% 6 Mo Libor Arm

Now hard money terms are actually commercial bridge loans with percents higher like 12%, but perfect for stabilizing an asset and refinancing into a conventional term.

If the property has really good value they can actually lend up to 90% of the purchase price.
contact Marlon direct

Marlon Gonzalez

Director

Everyone is talking about no money down and getting 100% financing for properties. But what it really is is no out of pocket expenses. Once you understand that - you will understand a lot!
Check this out
http://mmgcapital.wordpress.com/2011/03/30/hard-money-lending-philosophy...

What do I mean by slow market? Well, if you local real estate market has an average days on market of 90 or more days, you are in a slow market. It is in any real estate investors best interest to start making money from any property quickly. The sooner we can generate either an income or get cashed out, the better for any real estate investor. So, how do you sell real estate quickly in a slow real estate market?

Im 26 and just read Dean's books and want to get started in investing. My situation I have no money for a down payment or money for payments. I have the drive to succeed and I can do everything to a house to fix it up. A list of all things I can do: Tile, wood floors, carpet, cabinets, framing, drywall, finishing, baseboard, crown, roofs, electrical, plumbing and can get gc liscense for additions. I can do everything that a house needs to be fixed for resale. There alot of deals to be made in my area Broward County. Looking for any suggestions on how to get funding for my first deal. Thanks

Basically I'm currently looking at a few properties (some need remodeling & some need minor repairs). My initial intentions were to try Lease Options and/or Assignments, but even though my credit is far in the ground, I wanted to know if I could grab a loan, especially since according to zillow.com the mortgage would be under $100/month for most properties I'm looking at.

Basically...the main house I'm looking at is listed for $15,000. It's estimated value is $65,000. So how would the LTV work in this situation or would I even qualify!? Especially since I really don't have any money & there will be some repair costs!

Thanks in advance!

Darryl Thomas
ASUEInvestments

We are looking for someone who does down payment assistance, for example - if we are getting a loan for $100,000, and putting $30,000 down but our purchase price is actually $50,000, then we would have $50,000 at closing to pay back the down payment assistance plus the percentage for using it. We have many lenders who will do the loan for up to 70% ARV or LTV ( some as high as 83% ). Most of the proerty purchase prices we are working on are 65% or less, and since the loans are up to 70% of the value we were looking for someone to loan us the down payment, then at close you get your down back plus interest. If anyone on here knows anyone doing that please reply. Thank you for your time.

IF anyone out there in DG Land can provide me with a person for a point of contact that are knowledgable of this type of funding. I would be very greatful & forever in your debt. I have a Multi family residental commerical property that has great NOI that show the past 3yrs of finicals that were provided to me. I've meet with bankers that are kinda of scared to make any type of loan at this time.

Really Really need to find a loan officer that can help.

If God is in your corner who can be againist you..

Hello DG Fam,