denis dasilva remax welcome home bank owned homes 5088136875 hard money loans: Hard Money Loan Experiences…Share yours Here!!
- 09/22/09 02:57 PM
I Just Sold another of my personal Deals (Flips) I do 2 to 3 a year. I tried a local hard Money Lender that charges a total of 10% of the loan in this case approximately $14,000.00. First I paid about $4000.00 then $10,000 when the deal closed. It's better than bringing in another partner (typically looks for 30% to 50% of the deal) and this way I didn't touch my cash reserves.Do you know of a better Lender or method ??? If so I would love to hear about it. Keeping an open mind pays off in this business.
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denis dasilva remax welcome home bank owned homes 5088136875 hard money loans: How We Closed 14 Short Sales This Year !
- 09/22/09 02:41 PM
I started working with Short Sales about 2 years ago, The first 3 deals we worked on for 6 months, only to have the lender foreclose on it even though we had qualified buyers for them willing to pay market price. I wanted to help these families and close these deals but we were not successful. I was having Lunch with Thomas Percy the founding member of the law firm of Percy, Tedeschi & Associates, P.C and I explained the challenges I was experiencing with Short Sales. Tom informed me that as a courtesy to brokers that he works with his office … (0 comments)
denis dasilva remax welcome home bank owned homes 5088136875 hard money loans: BANKS WANT CASH! Passing on higher financed offers
- 09/22/09 01:54 PM
BANKS WANT CASH! Passing on higher financed offers I had a VERY strong Buyer 20% down and $5000.00 non refundable, the bank rejects the offer and takes a cash offer $35,000.00 LOWER!! This is why Hard Money Lenders or HELOC give the investor a HUGE advantage. Thoughts ? Denis DaSilva Broker Associate REALTOR®, e-PRO®, LMC®, CDPE®, REOTRANS PLATINUM CERTIFIED®RE/MAX Welcome HomeOffice Phone: 508-536-6079Direct Phone: 508-813-6875 Office Fax: 508-916-4300Email: denisd@remax.net … (3 comments)
I Just Sold another of my personal Deals (Flips) I do 2 to 3 a year. I tried a local hard Money Lender that charges a total of 10% of the loan in this case approximately $14,000.00. First I paid about $4000.00 then $10,000 when the deal closed. It's better than bringing in another partner (typically looks for 30% to 50% of the deal) and this way I didn't touch my cash reserves.Do you know of a better Lender or method ??? If so I would love to hear about it.
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