Email me and I will send you a draft; check it with the court house and or a lawyer… You may be able to get them to do a land contract with low interest rates with your back ground… After all the homes are vacant and boarded up right. This would be a non-recourse loan…
Another suggestion would be to get the property owner to do a limited partnership with him putting up the property and you borrowing the money and work while you bothe profit at the end…
JR
Specifically, Mahoning and Trumbull County. If anyone knows of a broker or private investor that I can contact, please let me know. I am a contractor-Plaster and Drywall, with over 20 years experience. I have my eyes on several vacant and boarded-up homes (boarded for quite a few months) that I’d like to fix-up and rent or flip. But before I approach the owners and make any offers for all cash, I’d like to have private money ready to back up the offers. The strange thing is, I have looked in several newpapers in my area, and have not seen any listing for ‘hard money.’ AMAZING!! If the following terms below are acceptable, I would appreciate all those who are successful in the rehab area to send me e-mail addresses or put me in contact with hard money in my area, so that I can make cash bids, buy and rehab these properties. Here is what I’m willing to pay for the use of this money:
interest only 15-18%
terms 12-18 months with a balloon at the end
seasoned; 3-6 months if need to
Futhermore, I’m willing to do what it takes to get this money for these properties, and there’s a lot of them.
So, thanks to all of you pros out there who know this business are successful at this business and you’re willing to take the time to help us newbies take the next step to success. Hats off to YOU!!!
TB
P.S. This is the best learning site on the net! I’ve learned a lot and now ready to jump in with both feet. Look for more posting by me in the very near future
Try Perry at 1-330-656-4125. I know he works in the Cleveland-Akron area, so you may not be too far off the beaten path for him. I have never done any work with him but have talked to him a couple of times. It seems that he has a good handle on what the creative investor is trying to do.