My name is Evan. I have an investor with good previous experience looking to get preapproved to purchase a duplex in a Portland, Or. suburb. I have done 2 deals with him in the past, last was in 2020. He has mid-700's credit, about $220k in the bank, and would like to be able to make offers with a POF letter in hand to give to the seller or their Realtor.
Please message me if you are interested in working with us. I am interested in finding out loan terms, average time to close, points. I will message or call whoever has the best options. This investor is ready to look for a property before the end of this month.
Based on the information provided in this post you are looking at 80% LTC with 100% of Rehab funded, 11.5 to 12%, 12 month interest only, no prepayment penalty. I am a Broker but do at least a couple fix & flips per month. If you are good working with another Broker, please message me. I can get this done in about 20 days.
I can introduce you to reputable firms that can get you fast and secured finances for your project.
contact me on email@example.com for futher details.
Thanks for the info. I was able to find a direct lender here on this website and have sent him the investor's information. The lender offered us pretty similar terms to what you have mentioned.
I am a broker and have no problem working with another broker so hopefully you and I can team up on something in the near future.
Thanks again for the info,
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DavidAllenCapital Registerd Broker
I have a fix n flip program for experienced rehabbers. 95% financing using a JV partner for the down payment money.