SUCCESSFUL LOAN TRANSACTION #1 "REVENUE & ASSET BASED LOANS" WITH [ZERO UP-FRONT OR DUE DILIGENCE FEES]
NOTES: The investors went into contract on 2 residential properties. Because they are in contract on the properties they pledged the target properties. They purchased bank owned properties for 25 cents on the dollar. We are making an exception and lending 250% of monthly gross because they were sold by the bank for 25 cents on the dollar. If they default we own properties worth $120K on a $30K loan. we also made an exception because there are 2 signors. The investors also have a short but documented track record of making good deals. They also made several referrals before we closed. Their previous hard money lender was charging them 10% per 30 days.
CASE STUDY 1
*** $30K REAL ESTATE INVESTOR /FLIPPER
BORROWER: REAL ESTATE INVESTOR /FLIPPER
GROSS REVENUE: $12K/MONTH
COLLATERAL: 2 PROPERTIES IN CONTRACT
USE OF FUNDS: ACQUISITION OF 2 FIX AND FLIP REO PROPERTIES
FICO: 580 AND 650
NEGATIVES: CASH FLOW
POSITIVES: EQUITY IN COLLATERAL, CLEAR USE OF PROCEEDS, 2 PARTNERS
REVENUE QUOTE: $24K (BASED ON $12K GROSS MONTHLY REVENUE)
COLLATERAL QUOTE: $40K (BASED ON 50% EQUITY)
FINAL LOAN AMOUNT: $30K
NOTES: The investors went into contract on 2 residential properties. Because they are in contract on the properties they pledged the target properties. They purchased bank owned properties for 25 cents on the dollar. We are making an exception and lending 250% of monthly gross because they were sold by the bank for 25 cents on the dollar. If they default we own properties worth $120K on a $30K loan. we also made an exception because there are 2 signors. The investors also have a short but documented track record of making good deals. They also made several referrals before we closed. Their previous hard money lender was charging them 10% per 30 days.
FOR MORE INFORMATION OR TO SUBMIT A LOAN REQUEST.
CONTACT:
Calvin Butler
CEO @1st Choice Financial Inc;
AVAILABLE STATES: AL, AZ, DC, DE, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MN, MS, MO, NE, NH, NC, NM, OR, PA, UT, SC, VA, WA, WV, WI, WY. MINIMUM $100K: NJ, GA, CO. MINIMUM $50K: DC, NE, OR. ***IN A FEW MONTHS WE WILL LEND IN ALL 50 STATES!
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