All Forum Posts by: Matthew Okosodo

Do you know how much the  repair will cost, if any? Do you know if the owner is willing to sell because they could just borrow $11,000 and settle the dept.

If the ARV is assumed to be $500,000 I will start at %65 ARV and not more than 75%.

However, I will find out what the owner have in mind about the house before I do anything.

If they are willing to sell, I will then check for repair estimate, and a quick comparable values before making an offer. If they are willing to accept an offer of 75% ARV and the price is right for your ARV, I will not hesitate but make the offer right there and give 45 days closing if that is acceptable in your area. Please do not forget to add funding contingency.

Thanks

Matthew.

Thanks Brian, got it.

Marie Poe, a healthy competition provides the impetus for growth. One thing, without competition everything will be stagnant because competition compels an individual, organization and so on to find better method of doing things.

Thanks

Matthew. 

Ok Bill G,

You wrote: 

"Just need to learn note fundamentals, the basics of underwriting, risk assessment, collateral assessments, understanding credit issues and secondary guidelines."

It will be my pleasure and totally honored if you could provide some type of link or ideas on how and where one could acquire what you have adequately expressed on your statement above.

Thanks 

Matthew.

Hello John,

Your best bet is the company that I recommend below and I am recommending it because I am using the same company and I found it to be dependable, reliable and national.

Click on the link below

http://www.promofundingpartners.com/#_l_4h

The good thing is that you have many options with this company.

Take charge, John.

Matthew.

Thanks Simmy,

The reasons that I am not qualified for FHA Loan is because I did a short sale on my house

in April 2013 and will have to wait 3 years to qualify. I lost my job and could not continue with the mortgage and when I went back to work my hours were reduce, hence I was not able to make the mortgage. 

I am now full time with annual Gross of over $100,000. I have been renting since the short sale and equally saved for a 20% down payment for the $145,000 Townhouse that I currently have a contract on.

My current credit score is 597, hence I can not get a regular financing. 

I know that I can bring my credit score much higher in 6 months to up to 630.

Most of the negative are small collections and some of them I do not recognize. 

The truth is that I put myself in this predicament and I am working my way out of it. Hence I

am requesting the People at Biggerpockets to help me out for the remaining $116,000.

This is a win win situation for both of us. You will get a 12 months interest only. Say you 

agree on 10%, that is about $11,600, a 10% return on investment. 

Thanks

I am trying to add a PDF property Valuation, analysis to the previous post, I do not know if is possible. You may request the analysis. Thanks

I have a townhouse with contract signed by both seller and buyer. Buyer is using LLC company for the purchase and want to leave in the house for one year to improve his credit then turn it to rental. If interest rate remains less than 6%, the cash flow on this property will be at least $200/month plus property appreciation of at least 3% per year.

The ARV is $145,000 and buyer LTV 80% (20% down payment). The amount to be financed is $116,000.

This property is in Florida, South Florida, West Palm Beach.

I am looking for a private lender who can help with this loan.

If anyone knows the better way to make this happen, please advice.

Thanks