Does anyone do Flip loans for Investors on Manuf. Homes on Land?

As a real estate Brokerage, we support a number of small investors.

We are also a HUD Brokerage and have a lot of interest from the investors about they type of property listed above.

These are very short term flips, in high demand areas.

Currently, we have three in process and are looking for funding.

Views: 177

Attachments:

Reply to This

Replies to This Discussion

John,

How much funding are you looking for? What city and state are these located?

Regards,

Phillip Walker

Stone Creek Financial Services

Email:stonecreekfs@yahoo.com

Phone:510-575-1709

Fax:1-844-335-8348

Typically they can be acquired for between 60K and 80K, the rehab is (worst case) around 20K, and the ARV profit after expenses is 20K to 35K depending upon market. (right now, these are in very high demand here in Florida.

Florida is the number 1 State in the country for saturation of manufactured homes on land.

A lot of them are "second homes" occupied for about 4 months out of the year, or are a perfect "entry level" home for those that have lost a home, or are just starting out.

The two homes pictured are in "Central Florida"... just west of Disney in Winter Haven and Lakeland.

John,

I will follow up with you on Monday.

Regards,

Phillip Walker

Stone Creek Financial Services

Email:stonecreekfs@yahoo.com

Phone:510-575-1709

Fax:1-844-335-8348

What is your email address. You can send me a mail to richardregalado52718@gmail.com.

John,
Here are the Guidelines and Terms:
24 Month Term
Interest Only Payments
9.95%-12%
NO Pre Pay Penalty
3-6 Points Origination
Property must be located in Florida.
Residential and Commercial Purchase and Refinance (No Refinance of Primary Residences)
Condos must have association in good standing
Max LTV 65% on Refinance
Max LTV 65% on Purchase
Escrows may be required
Borrower must document ability to repay the Loan.
Documents Required to get started:
1003- Attached
Purchase Contract
Should you have any questions please contact me.
Regards,

Phillip Walker

Stone Creek Financial Services

Email:stonecreekfs@yahoo.com

Phone:510-575-1709

Fax:1-844-335-8348

Attachments:

ohn,

Here are the Guidelines and Terms:
24 Month Term
Interest Only Payments
9.95%-12%
NO Pre Pay Penalty
3-6 Points Origination
Property must be located in Florida.
Residential and Commercial Purchase and Refinance (No Refinance of Primary Residences)
Condos must have association in good standing
Max LTV 65% on Refinance
Max LTV 65% on Purchase
Escrows may be required
Borrower must document ability to repay the Loan.
Documents Required to get started:
1003- Attached
Purchase Contract
Should you have any questions please contact me.
Regards,

Phillip Walker

Stone Creek Financial Services

Email:stonecreekfs@yahoo.com

Phone:510-575-1709

These will all be located in Florida... the State with the highest concentration of manufactured homes on land in the Country.

As the Brokerage, I acquire for investors.

They do the financing as their entity.

I have all the crews necessary and offer rehab if needed.

Once done, we also offer to list and sell.

Find a buyer, do the deal... and repeat!

Example:  https://www.hudhomestore.com/Listing/PropertyDetails.aspx?caseNumbe...

John, if you are still looking for funding, we fund in all 50 states, up to 100% of the investment property purchase on a 70% ARV at a rate of 9%, funded in 10 days and you can refinance with us at a rate of 4% for 10 years to 15 years fixed or ARM, loan size $50,000 to $5M, no advance fees. Please contact me: George Mallory, underwriter, (917) 653-5215, email: georgeM@stanfordestatecapital.com website: https://www.stanfordestatecapital.com/

 

Closed Loans that was 100% finance

 

Manhattan, New York, NY $4,500,000 hard money to perm loan use for construction of 12 condominium units

Manhattan, New York, NY $4,000,000 hard money for construction of 20,000 square feet mixed used building

Queens, New York $1,512,000 for construction of a five-unit condominium

Morristown, NJ $118,000 purchase and $20,000 rehab of a two-family short sale investment, 100% for the purchase, 70% ARV, refinance into a rental property at a 4% rate, current value $393,000.

Chicago, Northside Lake Front, IL $3,500,000 loan to acquire a 180-unit apartments 4 stores mixed used building

Chicago, Southside, IL $105,000 hard money to perm purchase and rehab of a 6-unit multifamily property, ARV $308,000

Macon, GA $249,000 for a real estate wholesaler to purchase and rehab two-story single family into a rental

Denver, CO $154,000 REO purchase for a two-family property

Reno, NV $304,000 purchase and rehab of a four-family rental

RSS

© 2020   Created by Admin.   Powered by

Badges  |  Report an Issue  |  Terms of Service