Financing in Miami>Question Details

 Yuni, Real Estate Pro in Miami, FL

Investment Property Heloc

Asked by Yuni, Miami, FL Mon Jan 27, 2014

need to do a heloc to get cash out of a paid off invesment duplex. Scores are in low 600 due to some credit card debt card that were over 50% (due to all repairs done to it or another property). Any lenders that cna help out htere?

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Yuni:
Banks are not lending 600 credit scores especially investment properties....You may need a private lender mortgage!!! Call anytime to discuss 561-732-6376 561-732-6376 NEIL SHERRY FLORIDA HARD MONEY PRIVATE LENDER MORTGAGES!!!

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nlms #328117

Doing your due diligence and getting answers to these questions will help you weed out brokers and save you time.

Are you a direct lender or a broker?
Are you lending your own money or investors'?
What types of properties do you fund most?
Where are most of your loans made?
Can I use my own Title Company and escrow?
What do you typically charge (closing costs and interest)?
Can you give me an example of a deal that best represents your niche?
To what extent does an exit strategy play a part in your approval decision?
How long does it take you to prepare documents and to fund my deal?
Can you go off of a Broker Price Opinion for value?

Beware of those who say "We can do it all and everywhere" and those who can't give a straight answer these simple questions.

HARD MONEY-PRIVATE LENDING " WE SPECIALIZE IN NON OWNER OCCUPIED RENTAL PROPERTY FINANCING"


NEIL SHERRY "YOUR HARD MONEY/PRIVATE EQUITY LENDING EXPERT" FLORIDA MORTGAGE CONSULTANTS 561-732-6376

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ATTN: REAL ESTATE INVESTORS, FELLOW MORTGAGE PROFESSIONALS, REAL ESTATE AGENTS OR ANYONE LOOKING TO REFINANCE " FREE AND CLEAR" INVESTMENT, SECOND HOMES AND/OR COMMERICAL PROPERTIES WITHOUT A MORTGAGE!!!!!!!!!

-BANKS DO NOT WANT TO LEND ON INVESTMENT PROPERTIES AND/OR COMMERCIAL PROPERTIES!!!!!!

-CASHOUT ON YOUR INVESTMENT/SECOND HOME /COMMERCIAL PROPERTIES FOR WHATEVER REASON!!!

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ALTERNATIVE EMAIL-nsherry972@aol.com





NEIL SHERRY -PRESIDENT
Florida Mortgage Consultants, LLC

1-561-732-6376
1-561-596-5605 cell
1-561-423-8089 fax
neil@flmtgcon.com

http://WWW.FLORIDAMORTGAGECONSULTANTS.ORG
0 votes Thank Flag Link Tue Feb 4, 2014
No too much banks are able to work with line of credit at this time maybe in the near future , but no now.
0 votes Thank Flag Link Mon Jan 27, 2014
Hello Yuni
I am looking to invest in duplexes ,call me and we can work something out with a loan fr me and your duplex.
305 300 8540.
Tony
akhourirealtor@att.net
0 votes Thank Flag Link Mon Jan 27, 2014
You will need to locate a hard money lender and be prepared to pay high interest rates.
0 votes Thank Flag Link Mon Jan 27, 2014
Good luck in finding a Home Equity Line of Credit on an investment property in a conventional bank or with a mortgage lender for that matter, your best bet is a private investor and negotiate interest rate.
0 votes Thank Flag Link Mon Jan 27, 2014
Have you scheduled an appointment with a loan officer at your Banking Institution? If they deny the Heloc due the low credit score, only then you should look for other options.
0 votes Thank Flag Link Mon Jan 27, 2014
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