OfflineHas anyone had any dealings with Real Estate Investment Solutions?
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Apartment Rehab Loans
Posted on: Tue, 06/22/2010 - 23:26
Has anyone had any dealings with Real Estate Investment Solutions?
Never heard of them. Where did you find them?
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
They are:
Real Estate Investment Solutions, LLC 6509 Hilburn Dr. Suite 202 Raleigh, NC 27613
They say they can do a hard money purchase/rehab on 12 units for me, but they want $1000 up front which put up my guard.
Cher
Have you asked what the money is for?
Sometimes a lender may want to do a backround check on you because your not from there home town.
I would ask if the 1,000 would be applicable to the deal. Meaning if you give the money up front can it be applied to your first deal.
When your working with a hard money lender credit shouldn't a topic of discussion. Hard money allows you to use someone elses money and make a profit. Lenders are dealing with you because your LTV will be 65/35 or 50/50
I have been in the real estate business since 1992 and I have never paid anyone and upfront fee to do business with them.
Good Luck
Adam
They say you get 1/2 back with your first deal. I am finding it more difficult to get small balance hard money than I thought. Don't even have a terrible credit rating. It's only 675, but there's no lates on it.