Financing in Manchester>Question Details

Dominique Du…, Other/Just Looking in 03104

are there any realestate investor groups that fund first time investors?

Asked by Dominique Dube, 03104 Mon Nov 17, 2008

with the economy being what it is, I am unable to get any commercial mortgages. If I had someone to partner with me for my first properties, I would be able to stand on my own in a couple of years(DREAMING RIGHT).I would be specific to multi- unit bulidings and commercial properties. MY ultimate goal is to create energy independant low income housing,using solar and wind technology.

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3
Hello Dominique- I am a loan officer and have means/ programs of financing a wide variety of properties and situations. Some of the "hard" deals do require "hard money"- unfortunately. The fees are high, and the interest rate is high, but usually there is no other choice for someone in your predicament.
I also am involved in the NH RE Investor's Association, and am a RE Investor myself- so if you'd like to chat at some point, I may be able to help you out. If you'd like, please contact me via email or phone. Thanks, and Good luck,

Ken L.
PS- I also used to work for a real estate developer, and I know a little about creating housing and that whole end of the game...
0 votes Thank Flag Link Sun Nov 23, 2008
Good Morning Dominique,

The first part of your question is financing, right now conventional loans are very hard to get for investment properties, you need to have 740+ credit and a good chunl of money to put down. There are some owner financing properties that do come up as well, however they are snapped up quickly. You would first need to talk to a mortgage broker who can prequailfy you and let you know what we you would need for money down etc, it is no cost to do this, i can refer you to someone who is realy good if you want to email me. I work with alot of bank owned multi's so i can certainly get you a great deal.


As far as the energy independant proeprties, the cost is prohibitive unless you are getting grants. the tax breaks are great but you have to front the money up front.

Scott Godzyk
sctprop@aol.com
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Fri Nov 21, 2008
Hi Dom,
It's Ron Fredette. Here are some REI links w/financing tabs....please stay in touch!

http://www.reinusa.com/
http://finance.groups.yahoo.com/group/NHREIA/
http://www.bostonareia.com/meetings.php#Brooks
Web Reference: http://www.justlistednh.com
0 votes Thank Flag Link Mon Nov 17, 2008
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