| PRIVATE MONEY NEEDED FOR UP AND COMING INVESTORS |
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jmwidmer
New Member
Cash: $ 0.45
Posts: 7
Joined: 30 Mar 2006
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| PRIVATE MONEY NEEDED FOR UP AND COMING INVESTORS |
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My wife and I are ready to embark on a mission to create a portfolio that would make The Donald proud! My wife and I are currently looking to create a powerful team here in the Denver Metro area that will invest in apartment complexes that need to be rehabbed and flipped or kept if the CAP rate is right. I don't have much but a decent credit score, but what I don't have, I will make up for in VERY hard work and determination to succeed to the fullest. Give us a shot and we will make a great team! Please contact me at email address provided so that we may be able to converse about this project in more detail.
Jacob Widmer
Widmer Properties, LLC
widmerpropertiesllc@msn.com
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Thu Mar 30, 2006 5:18 am |
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Basefunding
New Member
Cash: $ 1.90
Posts: 9
Joined: 26 Jul 2006
Location: Maryland
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Consider private funding through Captial Commercial Partners. We offer private funding for commercial real estate deals that make good sense. Close of deals are quick and little, if no credit check is required. You must have a good presentation on your proposal and the investors look to have their partners put at least 10% $ into the project. I have a link in my signature.
Sam Mancuso
President, RuzzMan LLC
www.BaseFundung.com- Commercial Real Estate Funding from Private Investors
Open your Own Online store http://signup.shopster.com/freetrial/default.aspx?referrer=8BGCBM484REX4
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Wed Jul 26, 2006 4:27 pm |
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Sailbad
Member
Cash: $ 3.10
Posts: 15
Joined: 24 Aug 2006
Location: Austin TX
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| Some helpful hints |
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I spent years in the business doing the same in the Houston area. There are some unconventional ways to finance a project like this if you can find REO properties in lenders portfolios.
100% financing plus improvement capital is possible based on a post improvement appraisal. You can also ask for interest free periods during construction allowing you to pay for operating expenses and taxes from the rents which do come in.
When properties get run down and suffer vacancy from unrentable or undesirable units they often end up on the block. Austions bear the worst result and if you can restore the value for a lender, you are a hero.
Your relationship with the banks is key and in a sense, they will be your customer. I would prepare an executive summary and an introductory letter for direct mail to all of the REO portfolio managers with assets in your area.
I would also suggest that you start small, earn a qualified reputation and never hurry into a decision. Mistakes are easy to make.
Good luck!
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Thu Aug 24, 2006 9:51 pm |
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