expert advise - Posted by Destini Cortez

Posted by dewCO on December 04, 2000 at 23:14:20:

Go to your local CREI club (listings on the main page) and see what others in your area are doing.

expert advise - Posted by Destini Cortez

Posted by Destini Cortez on December 04, 2000 at 16:37:52:

Hi Ed,

I represent a non profit housing service that provide affordable housing to low and moderate income indiviuals thru the purchase and renovation of the existing housing market in chicagoland and surrounding suburbs.

We help with down payment and closing cost to assist these first time home buyer’s thru a seller’s second. We counsel these indiviuals and help repair and/or restore their credit as well.

We’ve established a network with good credit investor’s for an investor’s fee of $10,000 per project to get the initial financing for the distressed existing properties with the housing services homeseeker’s providing an awsome exit strategy for the real estate inventory.

The structure worked fine until the term flips became taboo. The housing service would locate the property for the end buyer and would tie it up with a contract for purchase with an assignee clause in order to control the deal budget wise for everyone in the investment project…this being the housing service, the investor assigned to the project, the contractor’s and the end buyer.

The no title seasoning issue has created an obsticle that I need your expertise on.

I’ve looked into hard money loans, but they don’t want work needed deals.

Can you help our organization in any way possible? We buy all of our properties below market to insure investor payout’s at close.

desperatly seeking direction
Destini Cortez