All Forum Posts by: LEON GOUSMAN

I have a investor friend who's ready to unload three 3-fam units(fixer-uppers) and a vacant lot all in the same town and all at once. Since they are all owned free and clear I was hoping to take advantage of what could be a great opportunity. Im not sure how to structure such a deal or who to look to for financing... 

Ok so I have access to a couple of potential private lenders but I'm new to RE. I was wondering if I'd be able to partner with an experienced investor since these lenders don't like to deal with newbies. If so how should I present myself to the lender once the experienced investor is on board and how should I structure deal? I have my own business entity set up and I take it that any other investor would also.

Why can't you assign a HUD contract???

What are these guys lending criteria?

thanks

First off I want to thank everyone for a swift reply and all the good info. Its good to have a source of like minded/experienced investors. I'm itching for my first re deal and just trying to be creative. I am working on my credit and I probably should find a lender in my area to see what their specific requirements are. Like I said,I was hoping to get this shortsale property using 90-day transactional lending and then finding a lender that would refi without any seasoning....I wasnt clear on that in my initial post. but i guess until i figure that out i will wholesale. and Raymond B. i love to chat with u more and maybe pick your brain.

Ok,I want to buy a home for myself as a rental. and im thinking either hud or short sale, do to the fact they are cheap and i have little money. I was wondering if I could use transactional lending to get the property then put renters in there and do a cash out refi.