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WOW! Life is GREAT!!!!

By Dax Dickson

Mortgage and Lending with The Commercial Finance Store

April 14, 2009 02:47 PM

WOW!

This market is awesome!

I really think the Minneapolis & St Paul, MN REO Rehab property market is better for real estate and finance professionals than the refinance and housing boom. Things are getting so busy I have had to solicit new banks because the ones I have been doing all of my Purchase Rehab Rent (PRR) and Purchase Rehab Sale (PRS) mortgages with can not handle the volume.

It would be great to hear the success stories of others out there investing, selling real estate or in the mortgage finance business.

Dax Dickson
612-578-9898

Learn more about commercial mortgage loan programs available in the Minneapolis & St Paul, MN Metro area that can help those looking to secure purchase rehab mortgage loans for properties that do not qualify for programs like private/hard money loans or the FHA 203K rehab mortgage loan.

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Anonymous

Sam

Dax,

I have good credit, money to put down and I have not been able to get bank financing for properties that need major repairs. I tried that 203K loan but I am an investor so it didn't work for me.

What are the requirements for this program?

I would appreciate your help!

Apr 14, 2009 03:03 PM

Dax Dickson

The Commercial Finance Store - Saint Paul, MN

Sam - Thanks for the question. I am always glad when Activerain works! The best way to answer your question is to point you to my past blogs. I really tried to make it easy to understand the guidelines for my Purchase Rehab Sale (PRS) Mortgage and Purchase Rehab Rent (PRR) Mortgage in the various blogs I have written about them. If they do not answer all of your questions please give me a call tomorrow. Dax 612-578-9898

Apr 14, 2009 03:07 PM

Brent

I agree! Business has really picked up lately. People are still all gloom and doom when they find out I own and am buying rentals in this market. I think all of the bad information is actually making it easier to find deals in this market. All of the "Wanna be" investors seem to be out of the game for now. I hope it lasts!!!

Apr 14, 2009 03:12 PM

Here is the answer to your question Sam. I thought maybe you didn't want to go through all of my old blogs.

How REHAB MORTGAGE FINANCE works:

Solution One:

Purchase / Rehab / Rent (PRR) Mortgage solution

* Purchase Price + Rehab / Construction Costs = X

We facilitate loan amounts up to 100% of X with a saving account equal to or greater than 20% of X pledged to the lending bank instead of a 20% cash injection.

Solution Two:

Purchase / Rehab / Sell (PRS) Mortgage solution

We facilitate loan amounts up to 80% of X.

Various end mortgage solutions are available.

We can facilitate the following too:

* Up to 10 Fannie Mae or Freddie Mac Mortgages per borrower

* Individual commercial loans for each residential rental property

* Commercial Blanket Loan over multiple residential rental homes

I am sure these loans are available outside the Minneapolis & St Paul, MN Metro area. However, I only facilitate PRR and PRS mortgage financing in the Twin Cities MN Metro.

612-578-9898

Apr 14, 2009 03:22 PM

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