Financing and Credit

Hi guys!

So I want to know if I can do this and what will the procedure be.

Example: A seller is willing to owner-finance or sub2 the house to me and I want to lease-option it to my buyer. Is this something that is allowed?
If so, how can I go about doing this? I never did owner-financing so not sure how closing works.

Thanks in advance.

Simon

Hello DG Family,

My husband and I own 5 rental properties in Indiana. We are thinking about doing cash out refinance on one of the properties and wondering if anyone has done that recently and knows the bank who does it.

We have tried this about 2 years ago and got scammed/lost some money....so we wanted to go to a source we can trust, here. We would appreciate if any of you can give us information or comment on this.

Thank you!!
Naoko:)

If you personally have bad credit (currently in chapter 13 bankruptcy payment plan), if you create an LLC can you get financing under your LLC?

OK, I know our DG Superstars are extremely busy. But I know I have been scammed, by people in New York claiming to be private lenders and taking advantage of me. I won't go into details, I know your not interested.

I am in need of a private lender that will help me with a real estate project that I wanted to start months ago. I just didn't know how to get started until someone gave me the idea to find a private lender.

I am ambition, hard-working and willing to do what I need to do to get my real estate business off the ground. I am looking for legit, honest and trustworthy private lenders that are willing to take a chance on an "Average Joe". I have my heart set on building my real estate business no matter how long it takes.

i have bad credit, but just talked to a hard money lender who lends 80% (on the appraised value of the house). I am wondering if this works as follows...( i am brand new and not a math whiz so please be patient with me )

the house is appraised at $100,000.
i have already got the buyer to bring the house price down to $70,000.
So if I borrow $20,000. from a friend to use as the downpayment, can i get $80,000 from the hard money lender, and at close, give the $20,000. back to my friend? then pay the seller $70,000, pay (say $7000ish) in closing costs and still come out of the deal owning the house (with monthly payments) and have $3000 left over from the transaction?

Hey fellow DG investors,

I have a question about obtaining money from hard money lenders to finance your deal. If you were to approach them and ask for money obviously they would want to know all about the deal. But once you tell them about the property and everything, whats to stop them from just going for the deal themselves??

Aren't most of them investors as well? Just something I had in mind because I believe I found a great deal while just walking my dog around in my neighborhood and I want to possibly use hard money to purchase it!

Just had a beautiful rental property fall into my lap. 2 units, needs no work, move in ready, fully occupied. She is willing to sell it to me for 55k before she lists it on the mls. I'm looking for a loan, any type of funding. I will put up the property for collateral, you can hold the note. Willing to condsider reasonable interest rate as well. Open to all suggestions and business plans. Please email me at CMQproperties@**** or Call 732-503-6672

Don't know If I can help but I work with a group of Cash Buyers that purchase properties in all 50 States.

To be upfront, there is an Investment required and that investment is $1000. and that investment is returned to you after the first property is purchased.

What does that investment get you? The $1000. investment gets you Cash buyers that buy properties in all 50 states. It gets you the use of their money and they return that $1000. investment to you, after they purchase the first property. They only ask for the investment once. I would guess they invest the investment and as you can guess that could go towards many things - even though their proof of funds statement is very nice.

No experience is needed as I will be your guide through a few Bird-dogs then a flip.

Peer to Peer Lending also known as P2P lending. A couple of the top lenders are:

Lending Club https://www.lendingclub.com/ google has 125 million investment in lending club.

and

Prosper https://www.prosper.com/

I am looking for individuals who will be able to make a donation to my Fundly page. I am a newbie investor with no money of my own, but I have countless ideas on real estate strategies, that I've hone for over 6 year. I realized that I have wasted all this time learning strategies and didn't take the proper time to implement them; too busy reading other things. But a light-bulb went off in my head...I am the only one that can materialize this goal of $800. Not anyone else. So once I reach my goal, I will hit the ground sprinting to retirement, because I have a detailed plan on how to get there now. I am requesting that everyone who sees this post to got on over to http://fundly.com/help-me-and-i-will-help-you-entrepenuers-thinkers-only and contribute as much as you can.