Luxury Properties
I have meet an investor who calls me when he comes across good properties with a nice spread and some of the properties sell for 700 to 800 thousand and FMV is over a million. I would like some suggestions on how i could obtain a loan for these types of properties so i can turn around and sell them. my credit or cash flow is not at that level yet ,so please give me some other options i can take so i can profit off these deals....................Thank you
trackwerks,
Glad to meet you.
Do you mean you haven't gotten the spam email about what to do with these type of properties?
I will wait for some replies before I answer your question, but I am pretty sure someone is going to tell you how to do it. Probably someone with one or two posts.
John $Cash$ Locke
Yeah, give me a call and I'll be glad to help you out.
[addsig]
Trackwerks:
I will give you a free $4k seminar.
-Have the owner give you a 60 day
option to purchase
-Have the owner agree to let you have
a public event at the house
-Stage the house full of wonderful high
end items, like Ferraris, Rolex Watches,
Diamonds, Furs, Picasso's, Rugs and
get a 10% commission from what sells
-Auction off the house
-Do a double closing, collect $$$$
One thing I forget to tell you is make
sure the owner signs off on the house
prior to the auction with written instructions to the escrow or attorney to sell you the house if you come up with the money.
Best Riches,
Jeff Adam
[addsig]
It all depends on how much leverage you want.
One thing going for me is good income and good credt so I was am to qualify for kinda loan.
I'm trying to take the next step and jump into the multi-million $ props.
I just got this notice today.
LNAmt:$1,820,000.00 -- Comm Lot:1.4 Acre Zn:14 Ind YR:1999 Sq':22,000
1.4 acres, w/ 22000 ft building, in Silicon Valley... CHEAP CHEAP. (unless hazmat site)
But I don't have 1.8M to buy the note and carry thru default.
There might be a SS, I haven't investigated that.
But to do these deals I have partnered w/ some "big boys" that have 7 or 8 figure net worths, or have connections to insitutional money.
Until I or my LLC has that good of a cash flow & credit, partnership is the best I can do.
The one pays very good bird dog fee, the other is cheap.