All Forum Posts by: Bob Green

Hello Tan,

Are you open to flipping out of state?

Hello All,

Are you a new investor with no real estate experience ready to get into the real estate game?

Do you have good credit and strong liquidity? For example, Checking, Savings, Home Equity Line of Credit, 401K, IRA, Stocks, Bonds, Mutual funds, Money Market accounts or cash from insurance policy?

If so, I may be able to assist with financing.

Hello All,

As many of you are aware, we provide acquisition and rehab lines of credit on 1-4 unit properties and 5+ multi units based on 5X your liquidity including 70% of retirement accounts. The line is revolving and can be used over and over again as you pay it down or off. For example, $100,000(cash in bank) X 5 = $500,000 line of credit.

Your credentials and location of properties determine lending structure and rates:

• Rates down to 7% interest only
• Down payment as low as 10%
• Fund up to 95% of construction budget
• Lend up to 75% of after repair value

Please answer the questions below so I can determine what your interest rate will be!

1. Current credit score?

2. How many fix n flip transactions have you completed over the past 2 years?

3. How many rental properties do you currently own? How many have you purchased over the past 2 years?

4. What location(s) are you acquiring properties to either fix n flip or buy/hold.

5. How much cash on hand do you have in the bank?

6. Do you have a home equity line of credit? If so, what is available balance?

7. Value of retirement accounts including 401K, IRA, Stcoks, Mutual Funds, Money Market, Bonds, Cash from Insurance policy, etcs. Please be specific as to the value of each investment type.

8. Any bankruptcies, short sales or foreclosure? If so, how long ago.

9. How many properties do you have under rehab currently? Purchase price? Rehab costs? "As is" value? After repair value?

10. Real estate goals over the next 12 months?

11. Are you open to fix n flip opportunities where we provide the foreclosed property, rehab team, attorney, etc., and you have the potential to profit $20,000 - $30,000 per property?

Looking to Invest in Real Estate? Want to profit from fix n flip properties but don't have the time or resources to do so? Please read below.

Hello All,

Many of you are already a client or I have communicated extensively with you in regards to real estate finance and investing. You know that I am a seasoned real estate investor and lender and enjoy sharing my vast knowledge.

That said, I have a great opportunity for you.

I am the lender for the largest foreclosure broker in Illinois. They are contracted by HUD and various other lending institutions to sell their distressed real estate. They take the guesswork out of real estate investing, and known for their ability to identify undervalued real estate and provide their investor clients with an investing System (bankers, lawyers, rehab team' and real estate brokers) to find, buy, remodel and then sell or rent investment properties.

• 20 years of experience
• Sold 1400 distressed properties to a group of 150 investors last year and on pace to close 1500 this year
• Proven investing system
• Access to experienced investor rehab teams
• Help add to your bottom line by selling the property for only 3% total commission
• Relationship based, no hidden fees

Step 1: Reach out to me to be pre-approved for a acquisition and rehab line of credit based on 5X liquidity and 65% of retirement accounts. I will ask a series of questions in regards to your credit, experience and liquidity. Based on your answers will advise a lending strategy best fit for your situation.

Step 2: Schedule a time for conference call with the real estate investment firm to review program and process.

Step 3: Real estate investment firm will send you properties to review, which will include acquisition price, estimated rehab costs, after repair value, and comparable's.

Step 4: Accept property and fill out the required paperwork to be approved for rehab loan.

Step 5: Close on property and let rehab team remodel home

Step 5: Sell property for profit - goal is $20,000 - $30,000 average net profit

Step 6: REPEAT PROCESS

Yolanda,

Many times local community banks will allow for a cash out refinance based on fair market value immediately upon completion of rehab and tenant placed. Do you live in the state where the property is located? If so, great! If not, a local community bank will not lend to out of state investor. In this case, a national portfolio lender may only require you to won the property for 3 months to refinance cash out based on fair market value.

Naor,

Do you live in the same state as where the property is located?

Hello Khemaro,

I agree with Jaysen. However, what you could do is look to acquire a distressed property, and depending on your credit, experience and liquidity, get a rehab loan with 10% down payment, rehab it, place a tenant and then refinance into a long term loan. In this scenario, you may be able refinance cash out your original down payment funds and maybe even some additional equity to recycle into the next project.

Hello Paul,

I agree with @Brian Garrett in regards to a HELOC. However to go a step further, look to acquire foreclosed properties at a discount, rehab and once a tenant is placed, refinance cash out based on fair market value. With this strategy, you may be able to cash out your original down payment funds to recycle into the next project. This is a key strategy to growing your portfolio at a reasonably fast pace. If you continue to buy at retail pricing you will eventually run out of money and be stuck in a holding pattern as there is no way to get your down payment funds back out of a property with little or no equity.

Hello Scott,

Your debt to income is not factored into approval when it comes to hard money lending. Your credit, experience and liquidity are the determining factors. When it comes time to refinance and you choose to refinance under conventional financing guidelines then your debt to income will come into play, however if this is an issue you can always refinance with an asset based lender. In this case the lender will not look at DTI, but will approve based on credit, cash flow, location of property and loan to value. "Where there is a will there is a way my friend"

Looking to Invest in Real Estate? Want to profit from fix n flip properties but don't have the time or resources to do so? Please read below.

Hello All,

Many of you are already a client or I have communicated extensively with you in regards to real estate finance and investing. You know that I am a seasoned real estate investor and lender and enjoy sharing my vast knowledge.

That said, I have a great opportunity for you.

I am the lender for the largest foreclosure broker in Illinois. They are contracted by HUD and various other lending institutions to sell their distressed real estate. They take the guesswork out of real estate investing, and known for their ability to identify undervalued real estate and provide their investor clients with an investing System (bankers, lawyers, rehab team' and real estate brokers) to find, buy, remodel and then sell or rent investment properties.

• 20 years of experience
• Sold 1400 distressed properties to a group of 150 investors last year and on pace to close 1500 this year
• Proven investing system
• Access to experienced investor rehab teams
• Help add to your bottom line by selling the property for only 3% total commission
• Relationship based, no hidden fees

Step 1: Reach out to me to be pre-approved for a acquisition and rehab line of credit based on 5X liquidity and 65% of retirement accounts. I will ask a series of questions in regards to your credit, experience and liquidity. Based on your answers will advise a lending strategy best fit for your situation.

Step 2: Schedule a time for conference call with the real estate investment firm to review program and process.

Step 3: Real estate investment firm will send you properties to review, which will include acquisition price, estimated rehab costs, after repair value, and comparable's.

Step 4: Accept property and fill out the required paperwork to be approved for rehab loan.

Step 5: Close on property and let rehab team remodel home

Step 5: Sell property for profit - goal is $20,000 - $30,000 average net profit

Step 6: REPEAT PROCESS