All Forum Posts by: Dave Metsker

@Rick H.

Yes, Rick, I will be glad to offer helpful content on mortgage lending, as in the post above. I might even throw in some helpful probate information from time to time.

@ Marvin S. Subprime lending as used by investors, provides an opportunity to borrow money for real estate deals without the need for high credit scores or tax returns. Typical loan to value ratios are 65% to 75%, at rates 2% to 4% higher than similar loans from a bank. Loan terms may be anywhere from 3 to 5 years, or up to 30 years. Subprime lending fills the gap between hard money and bank loans.

Yes, the SUPPRIME marketplace has finally come alive. Credit scores down to 500, stated income, bank statement income, even foreclosure bailouts. As long as you have equity and the ability to pay, there is a loan available for you. Many loans have rates in the 7% to 8% range for commercial and residential, and up to 75 LTV. Most all property types will qualify. For a prompt quote and fast funding, contact Dave Metsker at 503-620-2239, or email [email protected].

continued; The actual notice which appears in the newspaper for a period of 4 weeks will be weeks or months later, after the death certificate is filed. In some cases, where there is no other property owned by the decedent, other than the real estate, and there is a mortgage which the family will not, or can not pay, there will not even be a notice published.

These lists are available for most larger counties, and are sold on an individual county basis, with a discount for additional counties. What makes these lists so unique is, they are taken from the death certificates, which are matched with property ownership data, and are delivered weekly. The actual notice

Probate properties can be a source of big rewards, if you know how to contact the heirs early, before the probate is even published in the legal notices of your local paper. Once a death certificate is filed, the information on the person who died is public record. Then you compare this to the property ownership records for the county, and if there is a match, this property is a prospect for a major financial opportunity.

What if there were a service that did this for you, and sent you a fresh list each week? Well, you are in luck, as that service is available for most counties. For more information, and a special Bigger Pockets discount, contact me, Dave Metsker, at 503-620-2239. Reserve your county now, before your competion does.

I know of lenders who will loan 65% of the purchase price on a fix and flip. These loans are expensive and should only be used for projects where there is significant upside potential. If the property is already in rentable condtion, but just needs updates, these same lenders will loan up to 75% of the purchase price. Low credit score is not a problem, if the deal makes sense. If your client is new to rehab, don't have him do 2 properties to start with. Contact me if you need more information.

I believe the secret is to set up a US corporation, and buy the properties in that entity. I know of lenders who will finance multi-family properties in that value range, and look at the net income rather than your personal (or the brand new corporation) income. The rates are a little higher than bank rates, but 25% to 30% down payment should work. I use an Indiana Corporation, which I set up in 10 minutes on the internet. Feel free to contact me, if I can be of help.

It is Angela, not Andrea. I left a message for her to contact you, also. She is very helpful. If you sign up, be sure to ask for several lists from previous weeks, if available.

Contact Mike at Eagle Land Title.