All Forum Posts by: Christopher Winkler

Start with an O&E report from www.ProTitleUSA.com; an Occupancy & Encumbrance report, is a mini title report showing all current lien holders. Also go to www.weclosenotesanddreams.com to see a large number of lawsuits filed. And finally it would be nice if you documented the fraud in a new thread. 

All new victims please start a new thread to show up in search results to possibly prevent new victims as he continues to prey on innocent people to this day with events & online camps & such.

@Jordan Moorhead hi, its under contract and we are looking for lenders. We are seeking funding, why on earth are you saying you want to buy it???

Seeking a 60-70% LTV purchase loan to purchase a stable 32 pad mobile home park in Roseau, MN. Seller will take a carry back 2nd lien for the difference, or we can bring in an equity investor to cover the gap and participate in a % of the profit.

Roseau, MN is home to Polaris Industries and Marvin Windows, and there is a tight rental market. 32 pads, 29 rented and will either rent the other 3, or purchase a MH to rent out, which can be obtained for $1,000.00 down. Also has a Duplex rented with two 2/1 apartments. Plans to raise pad rents from $160.00 to $320.00, increasing the CAP Rate.

Summary:

• Value: $500,000.00
• Purchase Price: $350,000.00
• NOI: $251,149.00
• CAP Rate: 7.2%

PM me for more info, borrower has 4 more and a 5 unit Apt. needing funding.

I like to use the HUD note/mortgage you can find online. It's for nationwide deals, and should pass muster, though run it buy an attorney if desired.

Looking for a 1st lien lender for this newly updated and stable 5 unit Apartment building in Deer River, MN

Borrower has a Mobile Home Park across the street and is able to get this for a great price. Seller will carry back a 2nd lien and if this is a problem, we will bring in an equity/gap funder.

2019 Numbers:

• Income: $25,404.32
• Expenses: $9,107.72
• Net Income: $16,296.60

Utilities will be billed back and rents raised $30.00, making this near 18% CAP

All apartments remodeled, newer roof, appliances, and furnace. On site parking.

PM Me for more info

Thanks for clarifying Andrew! Great strategy BTW!

@Chris Parker if you are not purchasing, or refinancing, you are "cashing out."

@Matt Motil, thanks for clarifying, the link said notes. We can help with cash out refi's starting @ $50k, so we can work with the 11 or so above $80k, though we do them individually, not a blanket. PM me for more info. 

On this loan, we are looking for a $90,000 first lien, 64% LTV, and we can either have a seller carry back for the balance, or we can bring in a Gap funder. Who likes to lend on apartments and split the net cash flow?

Any private lenders interested in making a $100,000 cash out refinance on the homes appraised @ $140k & 5 acres at 10% interest on this with a split of the net cash flow for 5 years?