Looking for funding up to $250K to purchase pos cash flow condos in Myrtle Beach, SC I have condo worth $110K to use as additional collateral free and clear. Looking to borrow enough to purchase condos and cover closing costs while staying at the 70% LTV. No cash out is needed. Plan to hold for up to 5 years then sell. Had a deal approved ready to close, then lender raised interest rate to 12.9 changed points from 3 to 6, changed LTV from 70 to 65%, and wanted $2500 to do appraisals when originally didn't need them since I was purchasing under market value. Any suggestions would be appreciated. Thanks, Peter Damen, damenps@hotmail.com. 410-726-5658
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MICRO LOAN PROGRAM - $100K-$900K
To start we need a mutual NDA completed, executed and returned by all parties to the project. Additionally, once we know the sector of the funding request i.e. Energy, Technology, Mining, Real Estate or Business we will provide a questionnaire that must be answered in detail and return which helps to access risk factors and determine our interest. We are fully transparent and provide all the information for principal to make an intelligent decision on doing business with us. If the project has merit with strong principals, a very good plan, the principal has enough liquidity to support their project and are honest and cooperative we have an interest and can normally get them through our in-house underwriting to funding.
Required Documentation: (for submission)
The following documents will be necessary to successfully underwrite and fund your project:
We will need you to show proof of funds invested to date in the project (if applicable), liquidity (cash in hand) to pay for third party expenses which includes an application and due diligence and engagement charge. This is not upfront but after they receive an expression of interest in writing from the lender and after a call and information provided on the lender for their due diligence.
Client will need minimum of 640-720 credit score. Our LTV is 80% - 90%; Terms are 5, 7, 10, 15 or 20 years; Interest is bank rate or better (we are not a hard money lender). Normal timeline to close is 30-45 days but is client dependent.
(The following remark is not intended to offend but stated because of so many request from those who believe that all cost can be paid from closing proceeds):
“If there are no funds available to cover project cost and principals expects the lender to pay the necessary cost to determine if the project is lendable, close and fund the project and get their expenses from the loan proceeds then no one I know of can help you.” I have 27 years experience in this industry and have never seen that happen with lenders in the US, Western Europe or anywhere else.
Ron Coleman
NEPCO, INC - GLOBAL CONSORTIUM - FUNDING FOR PROJECTS AND ASSETS IN THE ENERGY, TECHNOLOGY, MINING, BUSINESS AND REAL ESTATE SECTORS
770-572-7765 nepcoinc@att.net nepcoinc1 -Skype
eter,
We're ready to fund YOUR deal ASAP!
And if you're not already aware... July and August
are Great months to invest in real estate. Kids are out
of school, Banks are off-loading these assets to make their
books look prettier and investing in real estate now means
you'll be able to repair your investment just in time to flip your
property this summer--the best time to sell!
Take advantage of this AWESOME market today:
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Our Special Private Money Financing Program Includes:
- 100% funding success rate for deals that meet our
criteria
- Funding for both large and small loans amounts
- Longer term loans for rehab and cash flow deals
- No upfront fees to submit deals
- Cross-collateral or partnerships on higher LTV loans
- Financing on seller-carry hybrid deals
WE'RE THE ONLY FULL-SERVICE LENDER IN THE
INDUSTRY
As far as we know, we're the only full-service private money
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funding to closing... meaning you DON'T have to make any
awkward phone calls to strangers for funds or worry about:
- Drafting Documents
- Pulling Huds
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Just find the great deal, get us the info, and we'll do the
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All you have to do to start is visit us here:
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Get Funding Now to make more money, more often the
rest of this year!
Happy Investing,
Butch
P.S. Go Here to receive the Real Estate Encyclopedia: http://PMEFunding.com
this will allow me to keep you on my Funding/Lending mailing list!
Am a private lender willing to work with you, Contact me to visit the company website for more info on direct funding, asset protection, credit repair, business solutions and much more. Email# Clar.mrssisi@mail.com
We can help you with the loan. We offer personal, company and business loans to individuals and companies in severe need. Apply now and get your financial problems solved. The interest rate is 3% yearly. Contact us via e-mail: vatlfunding07@gmail.com
Thank you for responding. It all depends on the deal, your first loan will be require more of your participation, after you've got a proven tract record with us our rates improve.
- LTV = 65-80%
- Points = 2-5
- Length = 6-60mos
- Rates = 12-15%
All you have to do to start is visit us here:
http://privatemoneyexchange.org/aff/bwells
Happy Investing,
Butch
P.S. Go Here to receive the Real Estate Encyclopedia: www.PMEFunding.com
this will allow me to keep you on my Funding/Lending mailing list!
P.S.S. Please call if you have any questions 480.567.6561
We can help you with the loan. We offer personal, company and business loans to individuals and companies in severe need. Apply now and get your financial problems solved. The interest rate is 3% yearly. Contact us via e-mail: vatlfunding07@gmail.com
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