Posted by SHERWINJ on December 20, 2000 at 15:50:28:
SO THEN WHY IS EVERYONE HERE SO EXCITED ABOUT LEASE OPTIONS AND MONTHLY CASHFLOWS?
PERSONALLY I SEE LEASE OPTIONS AS A POTENTIAL PROBLEM WITH THE POTENTIAL BUYER. IF THEY MOVE AND NOT MAKE PAYMENTS OR SOMETHING GOES WRONG YOU’RE STUCK FINDING A NEW PERSON TO LIVE THERE.
CAN YOU SEND ME MORE INFO ON BUYING NOTES?
100% NOO Financing available! - Posted by JeneanNC
Posted by JeneanNC on December 19, 2000 at 15:42:06:
My broker has located a 100% NOO financing for my rehab project. The lender is giving us a 80% first and a 20% second with a 10.99% (1st) and 15.99%(2nd) interest rate. I’m not concerned about the rate because I’m going to fixup and resale the property. The lender does not have a property limit to make these loans or a pre-payment penalty. The credit score has to be 650 or better.
Sound too good to be true…I’m working on this deal now so I don’t know how it will turn out. My broker is James Godwin at Leader Mortgate (919-231-7734). He has all of the details on the program. Wish me luck or wisdom which ever apply!!
Re: 100% NOO Financing available! - Posted by Kenny
Posted by Kenny on December 19, 2000 at 16:55:32:
Does anyone know of any lenders who will also do 100% financing in the state of Georgia?
Re: we had the same deal - Posted by Ali
Posted by Ali on December 19, 2000 at 16:02:46:
Hi
I am a mortgage broker in Dallas,tx. We had the same deal few months back but suddenly 2nd lien holder stop lending money for 100% N/o/o Loan.
Just be careful with this kind of loan they are there for few day and suddenly its gone.
happy investing
Ali
100% Lenders - Posted by Rick(CA)
Posted by Rick(CA) on December 20, 2000 at 24:36:50:
The New York Times did an article awhile back and this is what they found. Scroll down to find the 8-10 lenders in GA they list.
Re: we had the same deal - Posted by Houserookie
Posted by Houserookie on December 20, 2000 at 06:48:19:
The other reason why I do notes regularly is to avoid
X rate this week and Y rate the next.
My investors tell me days in advance what they want.
Re: we had the same deal - Posted by JH from PA.
Posted by JH from PA. on December 20, 2000 at 01:22:27:
To Houserookie, Why don’t you like L/O’s?
Re: we had the same deal - Posted by Houserookie
Posted by Houserookie on December 20, 2000 at 06:46:08:
Hi Ali,
Lease options are great vehicles for many people. NOtes are a little more fun for me.
: O )
In my spare time, I look for private note buyers. Agents know me as a notebuyer not “creative real estate guy.”
Secondly, I get a better rate deal when I send deals regularly.
For example, my average deal is $6000 bucks. I can usually do 5-10 deals per month using first lien mortgages.
If there is little equity, I will fill in the selling price so that I can carry a second @ 13%.