bneonk 0 Report post Posted February 5, 2009 Have a deal that I'm trying to find an investor on. I have a property that I have financed with a local investor. I fixed up the house and now I have a buyer. The local investor would like to finance the whole deal for the buyer but does not have the cash on hand. So I am looking for someone to finance the second note. The remainder is $79,000 and they will put 20% down, ($15,800). That will leave $63200 to be financed. They will pay 4 points on the $63,200 ($2528) up front. Terms will be for 10% with a balloon in 2013. It will match the 1st note. Then in 12 months the investor on the 1st note will buy the note if the 2nd investor wants to sell. So in 12 months the investor will make 14%, ($8848) on his money. Or, if someone can finance the whole deal. Sale price is $132,000 they have about $25,000 for closing and down payment. Their credit is not so good. His is a 550 and her's a 518 on Experian. They would like their payment to be no more then $1200/mo including tax and insurance. Their debt to income ratio is about 18.30% Thanks for any help. Brian_kelley_@hotmail.com Share this post Link to post Share on other sites
