PRIVATE MONEY NEEDED ASAP!! - Posted by Patrick S. Lawson

Posted by Patrick S. Lawson on November 18, 2005 at 12:33:57:

No, you did not bust my bubble…The clients lack of funds and experience burst my bubble long before you came along. :slight_smile:

I feel a little bad for the client so I wanted to cover every single base…last ditch effort…post online.
thx

PRIVATE MONEY NEEDED ASAP!! - Posted by Patrick S. Lawson

Posted by Patrick S. Lawson on November 17, 2005 at 15:09:41:

Heres the Deal:

Subject Property: Church
Sale Price: $112,000
Funds Available for DP: 20%
Funds Available for CC: $6,000.00
Personal Guarantee: YES- Two individuals 600 FICOs own homes, but have very little equity in homes.
Average Monthly Plate income: $1,900.00

I have a complete 1003, two years personal financials, 8 months church financials, credit and purchase agreement. I will not even consider working with someone unless they can document sucessful transactions of this sort.

If interested please reply.

Regards,
Pat Lawson

Re: Hate to burst Your Bubble!! - Posted by Matthew

Posted by Matthew on November 18, 2005 at 12:23:07:

Mr.Lawson-
As an experienced industry person. the deal you descibe will not be done with what you have.

  1. this is considered Commercial property and a special single use property
  2. Hard money commercial loans are @ 50%LTV or less
    I am not sure where you are but you should rethink your plan.
    Best Regards