New Investor in MD/DC looking for financing - Posted by Sam

Real Estate Investing Real Estate Financing
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Posted by Jeff Tx. on June 05, 2007 at 19:47:38:

Hello Ben, I was reading these post and would like to have the opp. to recieve the same questionaire and lenders info. If you dont mind taking your time to send it my way also. I just made an pffer on a house and the seller excepted it.Put it in writing and am waiting to have the realotor get it signed. Then I will have 45 days to get finacing. Can you help?

Thanks
Jeff Tx.

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New Investor in MD/DC looking for financing - Posted by Sam

Posted by Sam on June 04, 2007 at 08:12:10:

Good morning,

I am new to RE investing and ready to get started and I have seen several potential deals. However, I would like to have my financing in place as not to slow me down or lose a deal.

I set up my LLC about 3 months ago and I would be interested in a business line of credit, HML, bank or mortgage company loans. I am looking to do rehab/flip and rentals. I have started gathering my construction contacts and would like my financing in order.

I currently have 720 middle score and about to close on my first rental using a neg anmo loan. This works best for me now, but i do not want to do all my deals this way.

Any suggestions?

Thanks

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Re: New Investor in MD/DC looking for financing - Posted by Ben Carmona

Posted by Ben Carmona on June 04, 2007 at 10:46:46:

What has your mortgage consultant advised?

Are you looking for short term rehab loans based upon the after repaired value that include purchase, fix up, costs, and sometimes payments?

Ben Carmona

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Re: New Investor in MD/DC looking for financing - Posted by Sam

Posted by Sam on June 04, 2007 at 11:40:06:

Yes, I am looking for short term rehab loans based upon the after repaired value, as well as, longer terms for rental properties. Also, I want something with little or no money out of pocket, so 100% financing.

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Re: New Investor in MD/DC looking for financing - Posted by Ben Carmona

Posted by Ben Carmona on June 04, 2007 at 11:51:47:

Great!

There are several lenders that would be able to assist you.

I’ll send over a quick email with questions to determine which one would be best.

Ben Carmona