Rklug 0 Report post Posted April 4, 2008 I pick up 5-10 pre-foreclosure properties per month with a 65% or less LTV based on todays current market value. I am looking for the best terms to borrow money, or am willing to JV on the deals. I look forward to hearing from you soon. Best regards, Ron Klug Share this post Link to post Share on other sites
MichaelC 160 Report post Posted April 4, 2008 Hi, Ron, and welcome to The Naked Investor.What financing have you been using up to now to be purchasing in such volume?Also, where are you buying and what are you doing to find so many deals? Share this post Link to post Share on other sites
-Tony- 0 Report post Posted April 4, 2008 are you in good with a local bank? You could talk to there comercial lender. 65% and if they cash flow and your credit is okay (dosen't have to be flawless either) you could save all the single loans with one comercial. Share this post Link to post Share on other sites
Rklug 0 Report post Posted April 4, 2008 are you in good with a local bank? You could talk to there comercial lender. 65% and if they cash flow and your credit is okay (dosen't have to be flawless either) you could save all the single loans with one comercial.How does that work can you give me more information on how to set that up? Thanks Share this post Link to post Share on other sites
Rklug 0 Report post Posted April 4, 2008 Hi, Ron, and welcome to The Naked Investor.What financing have you been using up to now to be purchasing in such volume?Also, where are you buying and what are you doing to find so many deals?I assigned the contract on the first two deals and watched the investor close and make almost $150,000 in two months. I have Brokes and realtors sending me there clients in a distressed situation to assist them in a short sale. I have investors as a last stradegy that I can assign the contract to but would prefer to pick up the properties my self or with a jv. Most of the properties are in California but I have deals in Arizona, Colorado, Nevada, and Utah it's all about the numbers. All the properties must have a 65% or less LTV, most of the properties are newer homes built in 2004-2006 so have little rehab. Share this post Link to post Share on other sites
-Tony- 0 Report post Posted April 5, 2008 Well I see you don't own them so it may not be as easy. I would keep wholesaleing and build up some cash, then in 5-6 month cherry pick the sweet deals. To be honest I am suprised the lenders will let you assign the contract if they are shorting the props Share this post Link to post Share on other sites
