Posted by DougO(NM) on February 24, 2000 at 21:23:56:
I suggest calling them, tell them you are saw their add. Next ask them what kind of projects they are interested in doing, and what kind of terms you can expect. Next you will want to know how much they are comfortable investing in any one deal, especially the first couple of times (that number could change if you do good!) You also want to find out in a polite way, how long they have been doing this, what they do to get their money to loan, and how fast they can move.
For example, I spoke with a gentleman the other day who said that on a rehab or foreclosure kind of deal, he would loan me up to 65% to purchase the home and charge 15%. I do the work and supply the fix-up money.
(And followed that up by telling nme that every deal is different, and he’ll do just about anything that makes sense, so there 'ya go)He’s been doing this kind of thing for a long time, and turns out is known in the cashflow (note buying) industry