All Forum Posts by: James Register

Thank You All, 

I beginning to see this will take a little bit more effort but possible, and for that I am gratefully. Thanks, Again

Hello Daniel and Thanks, 

I feel a little better than I did. I hope more people respond. I am looking for as many different viewpoints as possible, besides there are as many ways to make a deal as there are properties.

Thank You Both For Your Quick Response, 

Let's address Daniel, a 80% equity position is a good position even some banks lend money with only a 20% to 25% down payment on a non- owner SFH.

Jeremy, He has good credit but he does not want to work the banks because of all the red tape involved. He wanted to know if this made any sense? You know the 20% equity position vs the 30% equity position. 

His argument is that...  he has the tenant buyers in place, they already picked out the house, all he needs to do get the ready to move in home as far below the appraisal value as possible without insulting the seller and spending a lot of cash upfront.

Is This Possible? 

I need to know are there any PRIVATE LENDERS anywhere, not hard money lenders willing to lend at 6% on a ready to move in home with a 20% equity position. Let me explain:

My friend wants to buy a ready to move in single family home and lease the home to a deserving family on a lease to own basis. 

Good Example: $100,000 appraisal  value, purchase price $80,000 (20% equity). The owner is offering a 10% discount and he is bringing $10,000 to the table. He needs to finance $80,000 (80%) for 36 months. 

He is planning on selling the home on a lease to own deal . He wants all the benefits of property ownership and a fairly safe investment.

Hi Josh, 

I like your post but, I have a quick question. What is NOLO? Thanks, James

First I want to thank all you for your quick responses,

I am asking can an investor borrow x amount from a bank and pay only interest for a period of time and pay the balance when both parties agreed on a set due date?

I know hard money lenders make interest only loans, but are banks offering interest only loans for investors in today's market?

Thanks 

I have heard so many different stories about balloon loans. When a borrower signs an agreement to pay interest only for a set period of time and pay the amount due at a set period of time. Say, I borrow $100,000 at 5% and pay the yearly 5% interest and agreed to pay the $100,000 within 12,24,36,48 or even 60 months. 

Are these types of loans available today?

Hello James,

Thank you for your very smart response. I think you may be on to something. Yes, I will be glad for you become my colleague. Again, Thanks, James

I live in North Carolina and I wanted to know if NC is considered a landlord friendly state or do I need to consider launching my real estate investing career in another state(LOL)? Thanks