Hello All, just thought I would showcase some this last weeks closings at Athas Capital Group.
6.99%/$50,000-yes we do small loans./ SFR / Purchase-Owner occupied.
80% LTV-ALT DOC/ $331,600/ SFR / Purchase-Owner occupied/ 7.95%.
80% LTV with 658 Fico/ $397,000/ SFR / Purchase-Owner occupied/ 7.99%.
FORCLOSURE BAIL OUT!!!!/ $180,000/ SFR / STATED-Non Owner occupied.
512 Fico!!!!/ $203,850/ SFR-Purchase / STATED-Non Owner occupied/ 9.99%
563 Fico!!!!/ $148,000/ 2 Condos-Purchase Cross collateralization / STATED-Non Owner occupied/ 9.99%
Let me know if I can be of any assistance to anyone! Give me a call anytime.
877.877.1477 Ext. 224
Quick question re loans.
I'm a real estate agent in St. Louis with Invest St. Louis (catchy, huh?) and work a lot with wholesale properties.
I'm 60 years old, took early retirement from a local utility a little over a year ago, have credit scores of 823, or 850, depending on the credit rating service reporting, and am looking for capital to rehab some of the properties I come across, primarily from bank repo/Fannie Mae/Freddie Mac sites requiring a "bid" process.
I've been trying to source funds from private lenders, but find the rates to be insulting and borderline NY loan shark rates. By the time you pay up-front fees, points, etc., there's little capital left to complete a project that makes sense.
My wife and I have a townhouse we purchased in 2002. I owe approximately $153,000 on the loan and market values of similar properties that sold in the past year, or so, are going anywhere between $260,000 (fire sale due to medical condition of owner's wife) to $295,000. These are the sale prices of houses on either side of our townhouse.
Chase has the primary mortgage on the house and Bank of America is the bank I've been with since the beginning. Both have been approached for HELOC's, but their appraisal values are nowhere near the true value.
I have no intention of playing their game to pay higher interest rates with a lower credit line than what I originally requested.
I started in real estate when I was out of high school and during college (1973-1978), hold a Missouri Real Estate broker's license, while working as a Broker-Salesperson, along with an MBA in Finance. In short, I'm not a high risk candidate and am rather well versed in real estate and financial matters.
Does Athas Capital do business in the state of Missouri? If so, would you have anything to offer that makes sense?
I'm wanting to start bidding on properties in St. Louis zip code areas that offer the best rate of returns when rehab/flip is completed.
Any information would be greatly appreciated.