$50,000 Real Estate Loan Wanted 8% return
A loan secured by the 1-st deed of trust on the following property. House is a frame on slab, 980 Square footage It has central Heat and Air-conditioning systems and all appliances. This property has 3 bedrooms, 2 bath located in the rural area between San Antonio and Poteet Texas, off HWY 16S 5 miles north of Poteet
The market value based on comparable is $79,000. We believe the Market value is $89,500. The home is currently leased at $850 per month.
The loan terms requested are:
Amount: $ 50,000
Interest rate: 8% per annum
Term: 5 years
Payments: $ 330 mo (interest only)
With $50,000 secured by the 1-st lien and an estimated value of the property in the range of $79,000-$89,000 the Loan-To-Value on this financing is going to be in the 56%-63%, which presents a reasonably well secured investment.
Borrower will be Gem Rentals LLC. Company is five years old, owner has 32 years real estate investing experience. Jim 210-413-7230
Welcome to Bigger Pockets !
I will have to say it does seem very odd that you are looking for a $50,000 loan on the same forum that you are trying to promote your book "How I made millions in real estate"
I deal in one to two properties a month. I made several million over the years investing in real estate, then gave the kids their inheritance and retired in 08. In 2009 houses went on sale at fire sale prices so back into real estate I went. I now buy properties with cash, then borrow against them to buy more, or owner finance the houses to get rid of the landlord duties. I currently have 1.2 million in inventory. I want to accumulate 5 million in notes and houses. It's great for the lenders and I make money too. Besides it's fun.
