Financing and Credit

Does anyone on here offer private money to fund deals or possibly partner for deals?

Presenting a Winning Creative Offer

There are a million different creative techniques you can do to close with a seller but there is something important you need to understand first. One of the things most often overlooked is how to present your creative offer so that it actually gets accepted. In fact, your seller's response can be almost entirely dependent on how you present the offer. Presenting a winning creative offer is both an art and a science.

For instance, let's say that you want to convince a seller who is free and clear to hold secondary financing for you. Which of these two proposals is more likely to produce a favourable response?

OPTION #1: "Mr./Mrs. Seller, I want you to hold financing for me."

or

How to Get the Escrow If Your Buyer Doesn't Close

If you are selling a wholesale or retail property, you want to know that if your buyer doesn't close you get their escrow deposit, after all that's the purpose of the escrow. You deserve the escrow because you now have to carry and re-sell the property all over again, which will likely take another 30 days to close. These carrying costs are coming out of your profit!

Here is the typical scenario - the buyer doesn't say anything through the inspection period and you think the deposit is now yours if he doesn't close. After all, you have carefully used clever and "super legal" clauses in your contract stating "If for any reason, including the buyer's inability to get financing, the buyer is unable to close, he forfeits his deposit."

My wife has a friend who used to be a banker with Bank of America, and was a Sr. VP of Lending-Real Estate.

I recently asked her some questions on how lending works and how it applies to real estate lending.

Here is what she said. All banks borrow their monies from the federal reserve at a wholesale rate of interest. They relend those monies out at a higher rate of interest.

They make their profits from the spread that occurs. They repay the monies to the federal reserve.

They use deposit monies from customers to cover operating costs for the bank.

They get into trouble with the federal reserve when they cannot repay monies borrowed because of bad loans.

Once a certain amount of bad loans become part of that banks records, the banks credit rating gets lowered.

Dear DG FAM,

5 Ways to Collect Cash When Buying No Money Down

Hello To All:
I have been very busy of late with the funding consultant aspect of my business. It has taken off and for that I am very thankful.

As I have posted here, I do transactional funding as well as hard money.

The hard money program has been revamped and here are the new updates.

The following states are served:
AZ, CO, GA, ID, MD, NE, NM, NV, NC, OR, TX, UT, VA, WA, WV.

Up to 100% investor financing with potential for no down payment. 1 to 6 month term with two additional 1 month extensions. 2 points to 5.5 points and 15% interest. $550.00 evaluation fee due with application.

Why use hard money? because either your credit is bad to terrible or you need money now without lengthy processes to get it.

with bad credit? I found an apartment building, but need to come up with 15% for downpayment?

Thanks

Well I have finally done it!!! I have my first deal under land contract.It is a single family home in Mansfield Ohio that I got from another investor on contract.He picked it up on forclosure and then I swiped it up as soon as I could so no one else could beat me to it.

The previous owner did a'lot of work on it then lost it in forclosure.Now that I have this deal I am looking for someone to loan me the money I need to purchase it and get the work done on it so I can rent it out and re-finance it so I'll have some money for my next deal.

If anyone is interested then please send me a personal message.Thank You Very Much.I'll keep you updated on my progress.

Pre-Qualification Letters: Why Do I Need Them, How Do I Get One, and What Should It Say?

Pre-Qualification letters are not absolutely necessary, but if you want to pursue bank owned and HUD homes they are a necessity if you don’t have provable cash. A pre-qualification letter from a lender let’s the seller in your real estate transactions know that you have at least taken the time to speak with a lender, and that the lender has preliminarily agreed to lend you money in a future transaction.