Our Processes:
Property Types: A, B & C Levels + Buyer Beware For Location
Buyer Beware For Location:
New Property – Owner Still Has Possession:
New Property – Rehab Not Started – Owner Vacated
Newly Rehabbed A Level – Standard Rehab Package
Newly Rehabbed B Level – Standard Rehab Package:
Newly Rehabbed B Level – Standard Rehab Package:
Newly Rehabbed C Level – Standard Rehab Package:
Newly Rehabbed C Level – Standard Rehab Package:
This One Is An Attached Unit
Financing:
CASH PROPERTIES
WHY CASH PROPERTIES? HOW ARE THEY CHOSEN?
Typically, we designate properties CASH PROPERTIES when they are unable be purchased with conventional financing. In general, that is a property with a purchase price less than 50k. But, buyer beware of these properties. Many times, we find unsuspecting buyers purchase homes in areas that are not desirable. How do we find good “cash” homes. We take a 3 tier approach….Neighborhood, Street, and then the Home. If we drive in the neighborhood and it is acceptable, then we proceed to the street. If we like the street, we will check out the house. If the house is acceptable, then it passes all 3 test and it is a go. That is the only way you know you are ok in this price range.
FINANCED PROPERTIES
FINANCED PROPERTIES – CONVENTIONAL LOANS
If an investment property is over 50k in price point, conventional financing is available. There are some exceptions, though. When financing is being used, the property must meet the appraiser’s requirements. Those requirements will be somewhat standard with most lenders and are put in place to protect the lender and you, the borrower. If you have 1 to 4 financed properties, conventional financing will require a 20% down payment. For financed homes 5 through 10, putting 25% down is required. After you have 10 financed properties, you will have to switch to alternative financing options as shown in our Private Financing option.
PRIVATE FINANCING OPTIONS
PRIVATE FINANCING FOR FOREIGN AND DOMESTIC BUYERS
Many out of country and even domestic investors are looking for alternative financing solutions. Traditional lenders typically will not discuss any type of financing for buyers outside the US and there are many domestic buyers looking for financing when they exceed Fannie Mae or Freddie Mac guidelines. Not to mention, there are many lenders that implement loan limits, so if you need a small loan for a self directed IRA, lenders will deny due to loan size. In order to help buyers achieve their investing goals in these and other areas, we work with private financing partners to allow for flexibility for our buyers to continue to invest in real estate when obstacles get in the way. We have 3 programs with various interest rates and amortization schedules to fit investors needs.