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osoese

need 270,000 at 54% LTV on appraisals (Hard Money ok)

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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 market

current rent roll of 3125 with 5 of 11 rented

I have one sold for a 20k profit and can double close

40% 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.

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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 market

current rent roll of 3125 with 5 of 11 rented

I have one sold for a 20k profit and can double close

40% 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.

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