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$60K 1st Pos Needed In Alabama

Dygital profile photo
  • Friday, October 31, 2008 @ 02:38 AM EDT
  • 4 Comments
Client is looking for a Hard Money loan in Fairfield, Alabama on his SFR NOO. Est value - $130K. Client needs a ~50% LTV loan, or $60,000. Minimum of 3 yrs (preferrably 5), 12-13% IO, no prepay. Lender(s) get own trust deed in 1st position. Fico=653
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  • cjmazur
    cjmazur31st October, 2008
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    have you googled around?

    There are lots of private/hard money lenders out there.

  • Dygital
    Dygital31st October, 2008
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    Reply

    Yes, to no avail. Anyone you recommend I try?


    Quote:
    On 2008-10-31 02:32, cjmazur wrote:
    have you googled around?

    There are lots of private/hard money lenders out there.

  • optionz
    optionz22nd October, 2008
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    Reply

    use an option to get an equitable position for 30, 60 days, this protects your position so that you have some time to decide how to make money w/o losing the deal

  • cjmazur
    cjmazur31st October, 2008
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    Reply

    assignment thru purchase contract assuming end buyer has cash to pay assignment fee.

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