We are looking for aggressive lender/s,as we have ready buyers with cash for down-payments,buyer/s credit scores is in the 500's. purchase is
for an investment properties with positive cash flow,less than 5 units open to private lending conventional,etc. this is the first project of many many. for more details email us.these are mostly located in central and north central,OHIO
Tom for someone to finance a NOO property with a mid 500 score in the current lending environment is like looking for a needle in a haystack. A OO requires a min of 620 score and that gets you a rate jump. Sounds like your people need to do some credit repair before trying to purchase what every investor out ther3e wants.
Tom,
Your buyers are going to need a ton of cash with a mid 500 score and on an investment property... would need 20% min with great credit... with the mortgage melt down credit on investments is really tight.
Could look to "hard money" but that is usually only for short term and is very costly... would eat up the profit for the buyer...
Sorry.
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