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foreclosure: Critical information for rehab projects and flips - 05/30/12 06:25 AM
More profit, less risk, fewer hiccupsImportant tips for REO rehabs and flips
In my experience 2,3,4 family properties have the best risk-reward ratio, the best profit potential iow. Aquisition prices tend to be lowest, and rental incomes offset monthly interest, insurance, and tax expenses. Avoid profit erosion/losses by leasing properties at the earliest earliest opportunity - even if you plan to sell. Sales can take a long time. (See #1 above). 2,3,4 family properties work best for rehab loans, resale, and refinance to a home loan. (See #1 above). With the exception of the FHA 203K (owner-occupied only) there are basically no home loans … (0 comments)
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foreclosure: Do Fix & Flips with our money - or your money... - 01/15/12 12:42 PM
We are still faced with the best real estate opportunities of a lifetime. As sad as it is to say, the economic malaise continues to serve us very well. My investment group is interested in funding
highly profitable (fix and) flip projects - up to 100% of hard cost.
INVESTMENT CRITERIA
Our investment criteria are as follows:
1-4 family properties only. (2,3,4-family preferred) Preferred investment size: $20K-$100K ($200K max) NJ, NY only ARV (After Repair Value) of at least 150% of hard (purchase and rehab) cost Cross-collaterization on other properties considered.
If you are interested in:
Fix & Flip project funding, go here for … (1 comments)
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foreclosure: You can have >1 FHA loan - Mortgages after foreclosure, short sale - New REO inv company - 12/03/11 04:11 PM
Developers present me with REO projects on a daily basis. They need financing and investor capital. I am starting a new company dedicated to highly profitable, short-term, REO investments. If you are interested in being part of this as a (founding) shareholder, let me know. /// This week a quick review of mortgages after deed in lieu, foreclosure, or pre-foreclosure (short) sale. See below, or go to my website. - Paul :)
Can you have more than 1 FHA loan?Yes, under the following cirumstances:
Relocation. Must document unreasonable commute distance from current home. Increase in family size. Must have current mortgage balance at or below 75% LTV. Vacating jointly owned … (0 comments)
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foreclosure: Market indicators! - FHA limits - Fix-Flip opp - Secrets to getting a mtg - 07/09/11 07:16 PM
Time to jump in, if you have not already? I see many investments with great cash-on-cash returns (there's one below). Good deals are still to be had, but rock bottom buying opportunities are dwindling, low rates, strong rental market, and now also an uptick in sales. The timing is right I think - PReal estate stocks benefit from renewed interestFORBES: Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Dow Jones U.S. Real Estate Index Fund (IYR) where we have detected an approximate $185.3 million dollar inflow - that's a 5.0% … (2 comments)
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foreclosure: Mortgage-secured fix-flip investment: 22% profit share and 12% interest - 07/08/11 05:14 PM
Here is a current investment summary. As always, a quick response is needed. Please let me know if interested:
Mortgage-secured fix-flip investment. Purchase and renovation of 3-family property. Location: NJ 07111 Estimated project time: 4 months Funding requirement is for $80,000, or 39% of After Repair Value (ARV) Investor projected return: 22% profit share, plus 12% interest: $21,500 total. Minimum participation: $10,000.00 Go here to download the Investment SummaryGo here to review the "Smart Fix-Flip Investing" information.
Regards,
-Paul___________________Paul LuykxLX Financial LLCPh: 201-918-5443Ph: 800-405-0676Fx: 866-839-1337pluykx@lxfinancial.comhttp://www.lxfinancial.com/
… (0 comments)
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foreclosure: This market's for you! - Self-directed IRAs - 06/11/11 03:00 PM
This market's for you! Low prices, low interest rates, great cash on cash returns - whether home-buyer or investor, this market's for you! What's holding us back is groupthink ("it's a bad market, and we all agree on this"), and fear to think outside the box. I provide mortgage financing, and make/manage fix and flip investments. Whether you are a realtor, buyer, investor, or developer, I'm here to assist! /// I believe that where markets are heading should have little to do with investment decisions at this point, but if you're in to prognosticating you may want to read this for a few opinions. … (1 comments)
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foreclosure: FHA limits to decline - Don't worry, be wealthy - New finance options - Market fundamentals - 06/05/11 09:42 AM
There are two types of financing to keep an eye on: Portfolio loans that offer unique, common sense lending criteria. (Last week I told you about pledged asset loans and no PMI, both to 90% LTV). There are many developments on the horizon that may have a drastic, positive impact. Stay tuned. The second type is mortgage-backed investment, cash investors basically who are willing to finance someone else's investment in return for a share of the profit. Currently used primarily for fix-flips, I see broader application. I'll keep you posted. - Paul
FHA loan limits to decline. FHA loan limits will likely … (0 comments)
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foreclosure: Stated loan cutbacks - Pledged asset loans - Debt investors - No PMI to 90%LTV - Helocs - 05/29/11 09:11 AM
The pendulum is still swinging towards more irrational, over-the-top caution. The absence, or lack of application of lending rules that caused the problems, have been replaced by excessive rules and procedural changes that limit the recovery of real estate. The constructive efforts of the legislators and regulators are erratic at best. I see a new future for portfolio loans that bypass Fannie Mae/Freddy Mac, FHA lending rules altogether, and offer more common sense lending criteria. Some good and bad news below. - Pau
Stated loan cutbacksRegulators are putting the squeeze on no-income/asset-check loans, also known as "liar loans". Stated income and no document loan programs have been … (0 comments)
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foreclosure: Mortgage flip rules - Why qualifying income & 640 score are not enough - 05/15/11 12:47 PM
Mortgage flip rules do not need to nix any sales! Just make sure you verify the lender's rules and be prepared for some additional processing requirements. See below. /// Qualifying income and a 640 score are no longer enough. I actually think it's good news. See below. /// Make it a good week folks! - Paul
Mortgage rules for flipsFlipping rules apply when the seller acquired the property in the last 12 months. Double or concurrent closes are not allowed. The owner must be the seller. For a quick flip financing quote go here.
There are industry standards, and lenders add their own unique … (1 comments)
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foreclosure: Homepath reno loans - Credit refresher - Why REO rehabs are cheap, and tough to buy - 05/07/11 09:55 PM
We offer Homepath renovation loans. Prospect is a national Top 5 lender for FHA 203K loans and Homepath loans. We now also offer the Homepath renovation loan. See below. /// I am still waiting for the launch of a new construction/rehab program. Without it REO rehabs remain super cheap, and also tough to buy. See below. /// Contact me for expert service. I'm open for business! - PaulHomepath renovation loanHere are the highlights. Also note the current incentives offered.* High LTV: 97% financing available for O/O SFR properties* Loan amount is based on the as-completed value or purchase price and improvements, whichever is less* Renovation funds are included … (0 comments)
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foreclosure: Fix and Flips is where the money is. And not the risk! - 04/28/11 06:31 PM
Fix and Flips is where the money is. And not the risk!Check out my online presentation at the LX Financial website. It makes the case for it, and it shows you how you can take advantage of it as low-risk investor, realtor, developer, end-buyer. /// Rate are down a bit, and that's not a bad thing. /// Don't forget about the Homepath buyer incentives. /// It's a tough market, and there are also great buys out there! - Paul
Rates fall, home sales riseCONSUMERAFFAIRS.COM - The news from the real estate market today was mostly good, although it's not clear how meaningful any of it … (1 comments)
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foreclosure: Smart fix and flip investments - 04/09/11 06:58 PM
We look for low risk, reasonable returns, and no complications. The real estate market may be "bad" at the moment, but for our type of investments conditions are "excellent"!
• Our developers buy 1-4 family properties at rock bottom prices, and rehab them with lightning speed.
• The homes are re-sold to end buyers at below market prices, or bank re-financed as revenue property.
• Our first mortgage secured investors earn 8-12% interest, plus a 3-6% profit share every 2-6 months. We invest in every project ourselves.
• To receive listings of current investments go here to subscribe.
• If you … (0 comments)
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foreclosure: Buying with no (or pending) sale - Fannie Mae foreclosures - 640 credit score - Perfect credit habits - 10/31/10 12:08 PM
Is this a good time to buy? The answer is probably "yes".If you need to sell, than you have a small problem :) But maybe not. If you plan to upgrade, or make an investment, the time to do it is in a weak market. Maybe you could do this without selling first. Below is some useful information. Contact me if you want me to help you consider your options. /// The minimum credit score for mainstream type loans is now 640. See perfect credit habits. Best... Paul
Renting out/buying without sale of current homeRenting out your current home and buying another may not be … (1 comments)
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foreclosure: Foreclosure Plan on Wednesday! - Rates down - New rules for reverse mtges - 02/13/09 04:01 PM
Obama to detail foreclosure plan on Wednesday
President Obama will release the details of his foreclosure prevention plan Wednesday, the White House announced today as several large banks pledged to temporarily stop foreclosures until the program is in place. Read more Housing plan to fund interest rate reductions?
The Obama administration’s housing plan will use government money to help reduce interest rates for struggling borrowers, while asking lawmakers to approve more ways to modify mortgages, according to a person briefed on the proposal. Read more
Rates down a bit
For the week ending Feb 5th the 30-year fixed averaged 5.16% with … (2 comments)
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foreclosure: 50 Billion mortgage help - Lender options - 30yr fixed up 0.50% - 10/31/08 03:35 PM
The government is expected to announce up to $50 billion to directly address bad mortgages and millions of homeowners at risk of foreclosure. Roughly 10% of mortgages are in arrears, about 4 million loans, and roughly 7.5 million homeowners are under water. Let's say 10 million distress situations in total. The real number could be as high as 20 million. With $50 Bil that amounts to about as little as $2,500 per. Something tells me this is not going to cut it. But, it's a move in the right direction. - Paul Lender options: Loan modification, short sale, or foreclosure
This is (should be) the order of preference … (0 comments)
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