R E I Funding
Hello All,
I am an investor in Dayton, Ohio continually searching for private funds to be used in my transactions. All investors' money has a 1st or 2nd position mortgage secured by residential real property.
Typically, I buy homes in the $50,000-$150,000 range that have been foreclosed on by lenders, or are for sale by private owners. The homes are sold at market price to a retail buyer after the improvements are made by my contractors. The turn-around time will vary; with a range between 3 and 24 months.
I am willing to pay between 7-13% on 55-75% LTV deals. I will pay up to 7 points, but any that are paid up front will come from the amount borrowed. In addition, I will need funds to be accessible within 36 hours of myself submitting the deal for approval.
If this is an arrangement that interests you, please return my message with some information about your position. Feel free to write or call me.
Thanks, James
-- [ Edited by argopoles on Date 08/02/2003 ]
one would think that title process would take 3to5 days whats the rush for fast funding. good luck.
Hi, and thanks for the quick reply.
Ordinarily, by the time I have a deal ready to be funded, I already completed my due diligence - yes, even the preliminary title work.
The reason I would be "in a hurry," relates to the nature of the deals I pursue, and the manner in which I structure their acquisition.
If a client responds to my marketing 15 days before the property goes to sale, I will need to have the funding readily available, or no one's problem gets solved.
I hope that clears up some of your confusion concerning the way we operate.
Again, I appreciate the prompt reply.
If you believe you have the potential to be one of my lenders, please contact me with some of your information.
Thanks - James
James,
Send me an email to the address in my profile. I am in the Dayton areas as well. I can give you a name and phone number, but I'm not sure how fast he can fund.
Chris
Thank you c jarvis,
I'll send you a note right away.
James