Possible Investor Wanted

[Segal 0]

Hi,

 

My wife and I have been investing in RE for about a year now, concentrating on single-family homes. We buy only in central Oregon, as that is the area we are familiar with. We've been buying using our own cash, using bank financing (10 to 20 percent down, interest-only or neg am loans). The banks love us because my wife's credit is 780, mine is 777, we have approximately 100,000 in savings in the bank, an additional 130,000 in a SEP-IRA, and about 190,000 equity in our personal residence.

 

So I've been thinking, why should I pay the bank additional money for down payments when I might be able to get a better deal through hard money loans. If you are a hard money lender, let me know if you can provide us a better deal than 10 to 20 percent down. My interest payments to you will also need to be lower than what I can charge for rent. Around here, with the types of homes that I buy, the rent is anywhere from 700 to 900 a month. (The types of homes I buy are five years old or newer, basic entry-level design, good condition, not fixer-uppers, with an eye on selling one to three years down the road.)

 

I'm open to creative ideas, such as splitting profits when I sell, etc.

[terryleroe 0]

Hi,

I work with Starlite Funding Coast to Coast and we may be able to help you. There are some initial costs in fees you will have to put out up front. If you don't have a problem with that then fill the forms that I've attached and overnight them to Brenda (President/CEO) at Starlite Funding. If you need to contact Brenda, here is her phone number (832-252-9397). Keep me informed as to how everything is going so we can keep the process going smoothly.

Thanks,

Terry Roe

P.S. Here is a link to our website: http://www.starlitefundingcoasttocoast.com/

ClientApplication_1_.pdf

ExecutiveSummaryOverview_1_.pdf

NCNDFORSTARLITE_1_.pdf

StarliteFundingFeeAgreement_1_.pdf

[ritoab 0]

Segal,

Just a note.

There are better options other than banks/hml hard money lenders.

Hard money lenders should be your last choice along with the bank.

You and your wife have a great idea just need to be a little more creative with the financing.

I would attempt doing a lease option before i do any financing and second offer the owners a few thousand as a way to persaude owner to lease property to you. sure is better than the points you pay with Hard money lenders and the down payment with the bank.

 

God Bless