What should I ask about these deal terms?
Hey fellow investors! I was sent these deal terms by a reputable colleague - what should I/We ask? Any ideas on how I/We can best utilize this financing? Thank you!
Terms
- Rate: as low as 12%
- Term: up to 24 months
- No personal guarantee
- No title insurance required (perfect for tax deeds still in redemption)
- No minimum FICO score
- 4% origination fee
- Up to 80% LTV
- No minimum term length
- Georgia, Florida, and Texas
- Interest only loan
- Minimum financing amount $50K per application
- Must hold Recorded Deed for all parcels
Funding Process:
- 1 Online application in under 5 minutes
- 2 Preapproval from underwriting
- 3 Sign contract with $40 app fee
- 4 Asset review and final underwriting
- 5 Funds wired within 1 business day of signing and closing
Perfect for:
- Flips
- 1031 exchanges
- Residential
- Commercial
- Multi-unit purchasing
- Vacant land deals
- Vacation and short-term rental
- RV and manufactured home park
- Self-storage
- Tax deeds still in redemption period
Not Accepted (DO NOT APPLY):
- Any lien properties
- 2nd Position not accepted, must be 1st
- Lack of clear ownership
- If you don’t have the deed in YOUR NAME