Financing and Credit

Real Estate has huge potential. Right now is one of the best markets that this country has seen. Houses are everywhere and people are making a lot of money.

For many they are watching this time go buy and hoping that they can invest into real estate. Maybe the way of assignment of contract is not for them. Maybe they cannot get a bank loan. What can they do to get into properties right now?

I have a motivated seller that will sell me their home "subject to". The property has quite a bit of equity and the sellers just want out for what they owe.

So, in order to do the deal, I need:

1. Purchase agreement
2. Warranty deed and promissory agreement
3. Quitclaim deed in the event I fail to make a payment
4. Title transferred

Can anyone provide me with the web site for KLM Capital / Dave Nelson's firm.... Thanks!

Even with the economy at it's lowest point survival is not an option. Therefore it's up to us to determine what we want our income to be. So a perfect way to get a head start is to find something that we're good at, and use that skill to make extra money. Then take that extra money and use it to fund our investment operations. I wanted to take this time to hear other people opinions on this subject? What do you think?

If you don't have credit, and even if you do...Hard Money can be very helpful to the new investor, and i should know,.. Because I R 1. LOL....I have a new business, and have changed careers and thus a NEW LOAN with conventional financing might be hard to get at this time. Hard Money lenders are more interested in the DEAL than you. The Like to know that you have decent credit, and that you are a good person, but mostly it's the DEAL. It is easier to get a convetional REFI than a New Loan. REI is all about AQUISITION..

Flipping Homes with Hard Money Loans
Posted on November 3, 2008

Real estate investors planning to flip houses will often need to take out a loan to purchase the property they are flipping. Some have enough money on hand to pay cash for a property or to use a line of credit, but it can take several years before an investor is able to build up this kind of financial backing. In the meantime you’ll have to make use of a loan or mortgage. Hard money loans are some of the best funding methods to use in house flipping.

I have a dilemna and I hope the DG family can help me out with this one or give me some ideas. I recently closed on a 3 family property using a FHA loan, with 2 units being rented out and I'll be living in the other one. Since then I have found a nice piece of property that I am very much interested in. It is a condo and they are willing to take 30% off the listing price, which makes it a great deal. Similar comps go for a lot more than even their listing price.

A "Good" Deal is what many are looking for. I have to correct that notion. We all should be looking for GREAT DEALS.

The average joe can find homes 10-20% below FMV. We are all here to do better than that.
That is where the "think a little different" concept comes in to play.

You need to look at how much rent that the average home can bring in ...in your market. Then you need to understand HOW LARGE of a mortgage that you can normally afford to take on in that area and still maintain at least break even, but hopefully POSITIVE cashflow.

Hi everyone,

I just wanted to let everyone know that I am also an agent for a company that offers a software product that helps people pay their debt off in 1/2 to 1/3 the time without making extra payments. It just rearranges how you pay the creditors.

I have this personally and when I first got it I had 28 years left on my mortgage, plus other bills. With the software I will have everything paid off in 10.4 years and save $80,000 in interest in the process.

I just got an email from one of my lenders. Fannie Mae is easing their restrictions on investors, and allowing financing of ten properties instead of only four. Hopefully they will reduce down payment limits also.