All Forum Posts by: Christopher Winkler

We are going to sweeten this deal with a 50/50 split of net profits. Please let me know if that helps!

@Phil Shearcroft Who would write a $60k CFD on a property supposedly worth $100K? Unless they put $40k down, sounds like it was overinflated by a greedy seller who has no problem ripping people off.

And what do you mean by face value, the current value or unpaid balance? At what interest rate as that would mean they have paid almost 1/2, which typically takes at least 1/2 or more of the term of the CFD.

If you can get a $100k house for $35k its a bargain, though I highly doubt it. Are these realistic numbers or are you just making them up as an example? You would need appraisals on these properties to confirm that valuation. Also, are you new to the note space, or an experienced Note/CFD buyer?

With a CFD or land contract, many municipalities consider them renters, not owners & you a landlord. We look forward to your reply!

Quest does not want him stealing from their clients. Lesson to be learned, never, ever, ever, buy or jv with a guru, otherwise they make one mistake, and start paying Peter to pay Paul and you end up with dozens & dozens & dozens of lawsuits & ripping off people for millions and now officially a Ponzi scheme. 

I am not looking Simmy, rather I help people find private lenders that are interested in lending on small apartment buildings, mobile home parks & self storage places in needed areas, with very nice cashflow. He is able to get great deals that need little to no work, and the idea is to find someone who can lend $75-200k at 10-12%, from 60-80% LTV, and he gets the seller to take back a 2nd lien on the difference. Borrower pays for appraisal & other costs. He has a dozen deals in the pipeline. Thanks anyway...

Looking for private lenders who will make a loan in the 60-80% LTV range for a dozen self-storage facilities, apartments, and mobile home parks. You will receive a note and a mortgage or DOT. Loan amounts from $75,000 to $150,000. All deals have great cash flow and rates & terms are negotiable. Please PM me for info on the current deals.

Borrower seeks $100,000.00 for the purchase of an 8 unit apartment that is fully updated and rented. Appraised @ $140,000.00, for a 71% LTV.

All 8 units are rented, and freshly painted with new flooring, vanities, steel exterior doors, and new steel ribbed roof. New stackable washer/dryers in laundry room. Indoor mailboxes on site, and the transformer on the grounds is for the apartment only. Garbage pickup is on site. It needs nothing.

One caretaker/manager apartment onsite. Current rents $450.00, and will increase to $500.00 on renewal.

Full Appraisal available upon request.

Buyer owns a number of other mobile home parks & self-storage facilities and islooking for the private lender to help with this one for a 10-30 year loan. LTV & rates are negotiable, we just need a commitment by next week if possible.

Interested? Please PM me for more info. Click here to download the cut sheet on this project.

We don't care if you are in a LLC or individual and we loan in a dozen states & growing. For landlord loans we can do a 5/1 ARM RT up to 80% LTV starting @ 5.75% or cash out starting at 75% LTV. Or for 30 year starting @ 6.25%. You do need a value in the $130-150k minimum as loans range from $100k to $3.5M. Low doc, not for personal use, no income statements or tax returns needed. Just based on appraised value and if DSCRi is >1% or better, meaning rents need to cover principal, tax & interest.

And if you are being a rental ready to rent or just needing lipstick, we can also do a purchase loan up to 80% LTV starting @ 6.25% for 30, or the 5/1 ARM above. If anyone is interested, please PM me for more info.

Here is the first of several self-storage & mobile home park 1st lien lending opportunities. This one is a 38 Unit Self-Storage facility with an additional Triplex which is fully rented. The storage facility has only one vacancy, and is located NW of Minneapolis in Motley, MN. Minnesota is a Deed of Trust State.

The Triplex is bringing in approximately $2,200.00/month and while the storage is currently bringing in $1,500.00, he will increase rents to bring in $2,500/month, still below the competition. Thats $4,700.00 gross cash flow.

It's appraised for $215,000.00, and the purchase price is $210,000.00. We are looking for anywhere between $130,000.00 and up to cover the purchase, and the seller will take a 2nd position carry back loan for the difference. He is a semi-retired travel agent and he just wants to sell it and travel.

Buyer owns a number of other mobile home parks & self-storage facilities and islooking for the private lender to help with this one for a 5 year loan. LTV & rates are negotiable, we just need a commitment by next week if possible.

Interested? Please PM me for more info & the appraisal. Click here to download the cut sheet on this project.

Thats a legal question I can't answer. Is this going through Probate? You might want to get a real estate attorney to help. I find many of the ones I use on http://legalleague100.com , Look in the members tab for the state. A lot depends if its owned outright or there is a existing loan. If so, that loan either needs to keep being paid and you can do some sort of wrap loan around it, or pay it off if needed. Otherwise if there is no loan, anything you do would be a first lien. Good luck!

That's going to be like hearding cats! The more heirs, the more challenging. I would focus on the tax hit they will take if they sell, and explain how owner financing it to you will give them years of payments, or some combination of a down payment & seller finance. Let us know how it goes!