All Forum Posts by: Benjamin Fredricks

My business is specifically Dodd Frank compliance and I work with a number of investors that are doing contract for deed and private mortgage. Here we are a year later and there still is no legal precedent that has been set (to my knowledge) and with a new incoming President, the law is up in the air. One thing is for sure, change is slow to come in Washington so you'd better protect yourself until there is a change; if ever. If you're interested in talking further about this, you can send me a DM. We charge just a flat fee and I'll help you fully underwrite the income, credit, debt, ability to repay, so that you have a high probability for a performing note. A lot of MLOs will sign off on anything, but in my experience in lending and the secondary market for notes, it's good to fully underwrite your loans and not take short cuts. It makes for a much more profitable business model in the long run.  Doing a contract for deed has become more enticing to several investors I work with in the ability to not have to become a licensed lender.  CFDs still have a secondary market and they are finding them just as easy to sell with an underwritten file and Ability To Repay compliance signed off on by an MLO.

My business is specifically Dodd Frank compliance and I work with a number of investors that are doing contract for deed and private mortgage.  Here we are a year later and there still is no legal precedent that has been set (to my knowledge) and with a new incoming President, the law is up in the air.  One thing is for sure, change is slow to come in Washington so you'd better protect yourself until there is a change; if ever.  If you're interested in talking further about this, you can send me a DM.  We charge just a flat fee that is cheaper than I've seen in this thread and I'll help you fully underwrite the income, credit, debt, ability to repay, so that you have a high probability for a performing note.  A lot of MLOs will sign off on anything, but in my experience in lending and the secondary market for notes, it's good to fully underwrite your loans and not take short cuts.  It makes for a much more profitable business model in the long run.

Fantastic @Valentina Naumenko !!!  I'll send you a PM with what I'm looking for.

Needed:  Agents experienced with multi-family real estate investors in the following parts of the country: 

Tennessee:  Memphis, Nashville

Florida:  Cape Coral, Naples, Fort Myers, Orlando, Tampa, Jacksonville

Missouri: St Louis

Florida: Orlando, Tampa, Jacksonville, South Florida

Texas:  San Antonio, Austin, Dallas

If you are that person or know someone, please respond here or through a PM. I am buying in 2017 and am looking to build a team in those areas of the country.  Thanks BP community!

Looking to get private money for the acquisition of a deal here in Florida. We can fund the closing costs and the rehab on the deal and will be using the BRRR strategy on this one as to keep it as a rental.

Purchase Price: $80,000

Estimated Closing Costs: $2,500

Estimated Repairs: $10,000

Loan Amount Desired: $80,000

Property needs just cosmetics. Flooring, paint, baseboards, appliances and a new garage door. Have great credit (721 score) so getting a refinance done won't be an issue for the exit strategy for the lender to get their money back. Estimate that the money wouldn't be needed for any longer than 6 months.

For the comps, they were pulled directly from the MLS. Comparable sales within a half mile, sold in the last 6 months and +/- 10% on square footage. Will provide upon request

Estimated After Repair Value of Subject: $123,786

The property will rent for $900 per month. Listings in the area are $1,000 +, but I'm being conservative. I also factored in for 10% vacancy, 5% for repairs and 5% for CapEx and 10% for Management.

Currently have $80,000 in reserves so making the payment isn't going to be an issue.  Open to terms so please contact me if interested in funding and I can provide more information about the subject property and the comps.

Thanks,
Ben

Hi Mary.  I put together a list of REOs around the country every month from a couple of different lenders.  Sort of does the work for you in gathering the data.  Let me know what areas you're looking to invest / buy in and I can send them to you if you like.

Cheers,

Ben

Thanks Eric.  Do you have any suggestions on that?  I've had a challenge finding something along those lines where it's not secured by property.

Hello.  I'm looking for funding on a package of properties.  I have access to bank owned properties and up until now, I've been buying 1 or 2 at a time on a monthly basis.  We either flip these properties or refinance them with our portfolio lender.  I'm looking for a private lender that wants to make a solid return on their investment, no pre-payment penalties and can help us to fund a package of properties on a monthly basis for around $100k.  We bid on these properties and we never know what we're going to win, but I can walk you through our due diligence process, our marketing strategy for the properties and some examples of deals that we've done so that you can understand how and when you're going to get your money back.  Please feel free to contact me if you're open to this type of funding.

Thanks,
Ben 

Renovations to this property will be completed within the next 10 days and this will make a solid rental to your portfolio.  It has 2 beds and 2 baths, a basement and a garage that's large enough to fit 4 cars.  Property sits on a nice sized corner lot.  We've updated the fixtures, paint, flooring, bathrooms so that this property is basically turn-key and will only need a tenant to start cash flowing.

#Iowa #Davenport #Rental #New #Listing #Rehabbed #Buy #Hold

Sent you an email Tom