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investor loan: Making Offer on Multifamily Properties: Check the Documents Before You Become a Landlord - 02/03/11 10:55 AM
When purchasing small multifamily property, I learned right away that usually you can't even look at the property until you make an offer. This seemed odd at the time, but later I'd realize why that practice is the industry standard.  While I was concerned about making an offer that I couldn't possibly back out of, my agent assured me there were conditions in the contract upon which we could cancel it risk free if we didn't like what we saw.  We found one stand out on the list of several apartment buildings, confirmed the numbers in the MLS report from the … (0 comments)

investor loan: $108,000 Purchase and Rehab Loan - 01/18/11 03:38 PM
We recently put together a one year loan of $108,000 which covered a large portion of the purchase price and all of the client’s construction costs on this single family home. 
We also included a one year interest reserve, which will be credited back to the borrower if the loan is paid off on time.
On this deal, the client had to bring only $25,000 to the table, $20,000 of which comes back to him at deal end through the interest reserve.  In the end, the deal will end up costing the investor only $5,000, and the expected retail price upon … (2 comments)

 
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Craig Grella

Nashville, TN

More about me…

CreativeREO

Address: Nashville, TN, 37214

Office Phone: (615) 657-9103

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Creative Financing for Real Estate Transactions.


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