All Forum Posts by: C.B. Lovejoy

Currently have 5 properties under contract. Each contract purchase price is at 50 cents of the Appraised Value. Already have appraisals on each property. Already have Preliminary Title Work for 3 of the properties. Also have End Buyers thru two contacts to purchase these properties once they are purchased and secured. The values of each of these properties are between $1.45 Million to $1.8 Million.

Due to the Michigan market, it has been difficult purchasing a property for 50 cents on the dollar and reselling it less than 30 days for 90 cents on the dollar or more. The title insurance companies are under heavy scrutiny due to the amount of claims being filed. So the investor needs to hold the property for at least 60 to 90 days, in my opinion to be able to get the Title Insurance Companies to insure the property. Also the investor needs to make updates on properties like a property that needs marble instead of ceramic. or finished w/o basements instead of unfinished.

I am looking for the HML that can get this done. I also have direct contact with a Builder in the same area that has vacant properties sitting at $3.6 Million up to $4 Million that he wants to sell me at $2.0 Million to $2.5 Million. Spec Homes.

Please contact me

Hello to ALL.

I have a question that I need answered. What Incentives would you offer to Potential Buyers to Sell 15 Million Dollar Homes?

Price Range from $2.5 Million to $5 Million.

Brian

Can you get me that information please.

Thanks

Does anyone know of any Lenders that Allow Seller 2nd Mortgages?

I am actively looking for any Lenders who will lend at 80% LTV and will allow a Seller 2nd of 20% OR Lend at 90% LTV and will allow a Seller 2nd of 10%.

Owner Occ and Non Owner Occ.

Stated Loans or Lit Doc Loans.

Anyone Lending in all States would be great,

Thanks,

Brian