Financing in Dalton>Question Details

Obryant Macon, Both Buyer and Seller in Dalton, GA

seeking Private Investors for residential properties need of rehabing. wanting to grain solid relationships with solid deals in the future.

Asked by Obryant Macon, Dalton, GA Tue Jun 5, 2012

Interested 12 mths term negotiateing 5 mths of payments in to loanwith and exit plain to be out in 3mths with and ARV OF$123.800 WITH RM TO WK, with and 65% LTV . .

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Would you like to come to the Dalton Real Estate Investors Club meeting June 26, 2012? Our meeting this month is at Massage Associates across from Family Dollar on S. Thornton Ave. Dalton, 6PM -9PM cost is $2.00.
0 votes Thank Flag Link Sun Jun 24, 2012
Sorry, no one does that anymore. The best thing I've seen out there is no money down, no payments for 6 months using 65% ARV. After 6 months, all payments due in lump sum. I stopped using companies like this because of the high fees (10%) and high rates (15%). You'd be better off using a lender that will go to 65% ARV for 6 months and borrow extra money for the payments. To do that, you'll need to go 60% ARV and use the extra 5% for fees and payments. Expect rates between 12-15%.
ARV (after repair value) is very risky if you don't complete the job. A lot of hard laenders died over the years and they've become very conservative. So, be prepared for your idea of ARV to be a lot lower than you think.
You may also want to check out gareia.org and check out when the next classes will be. You can meet a lot of hard money lenders there. My products aren't for those needing quick flips but if you need the product, I'll hook you up.
0 votes Thank Flag Link Tue Jun 5, 2012
thank you for even responding back to me ,and then on top of that being honest with me to WOW , I mean that from the heart.
Flag Wed Jun 6, 2012
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