All Forum Posts by: Michael Monaco

I will send some more info your way @Garrett Greenhaw.

The RV Park is in Midland, Tx @Mike Evans

@Mike Waller

1. Midland, Tx.

2. Pyote, Tx.

3. Granby, Co.

4. Miami, Fl

Thank you for getting back to me Mike. 

1. Midland, Tx. 

2. Pyote, Tx.

3. Granby, Co. 

4. Miami, Fl.

Right now I am working on 4 properties that are open to seller finance. The LTV is 50%. Please reply back if you want more info. Thank you.

1. RV Park. 

2. RV camp.

3. Apartment complex.

4. Apartment complex.

@Greg Dickerson

Thank you Greg.

First and foremost, thank you for reviewing my questions.

Property type:

RV park

Price:

2.3 million

Seller:

The seller has agreed to take on a 2nd mortgage.

Buyer:

Pay the seller 50% of the asking price to be on the 1st. Pay the remaining balance off in 2-5 years through refinance.

Questions:

1. What are some key points I should have written up on the letter of intent from the seller side? The seller is open to making adjustments on their letter of intent.

2. Do you have any good contacts for lenders?

3. Is it possible to find a lender/bank that will cover closing costs?

4. What type of credit score will I need to close this deal?