osoese 0 Report post Posted July 27, 2008 I have a deal involving 11 properties that I have been trying to finance for two months. During that time I have talked with many investors and had my credit hit so many times it has dropped 20 points from inquiries. 270000 purchase price (includes 5k to close)54% LTV on appraisals in todays marketcurrent rent roll of 3125 with 5 of 11 rentedI have one sold for a 20k profit and can double close40% LTV on recent (6 month) comps Can someone give me an idea on options? I have paid the previous owners payment of 3100/mo for two months to stay in the deal (netting 4000 in rents in escrow to close - on of the rentals is not a paqrt of this owner) I have a lot of income but a lot of revolving debt. My dream solution would involve someone taking first position on the 11 properties without a lot of lengthy credit checks and scrutiny of my PFS. In other words, I would like someone to base a HML on the deal for 6 months to a year. Share this post Link to post Share on other sites
megabucks41 0 Report post Posted July 28, 2008 I have a deal involving 11 properties that I have been trying to finance for two months. During that time I have talked with many investors and had my credit hit so many times it has dropped 20 points from inquiries. 270000 purchase price (includes 5k to close)54% LTV on appraisals in todays marketcurrent rent roll of 3125 with 5 of 11 rentedI have one sold for a 20k profit and can double close40% LTV on recent (6 month) comps Can someone give me an idea on options? I have paid the previous owners payment of 3100/mo for two months to stay in the deal (netting 4000 in rents in escrow to close - on of the rentals is not a paqrt of this owner) I have a lot of income but a lot of revolving debt. My dream solution would involve someone taking first position on the 11 properties without a lot of lengthy credit checks and scrutiny of my PFS. In other words, I would like someone to base a HML on the deal for 6 months to a year. I might be able to help but I need more info Please contact me as soon as possible. Share this post Link to post Share on other sites