Posted by Bill on January 11, 2003 at 11:58:21:
Take your business plan and go bank shopping.
Residential financing - Posted by Robert Diepholz
Posted by Robert Diepholz on January 10, 2003 at 13:49:08:
Ed,
This past year my wife and I started our own Investment Co. after 1 year we have sold 17 homes on Lease to Own, and generated $120,000 in upfront monies as well as a monthly cash flow of $3000. However, we have now reached our 1.5 million cap from our original bank and at this point they are wanting to see how these current loans perform before extending additional cash. We have a business plan for 2003 that calls for 30 homes to be Leased, however this is at a stand still for lack of bank funding. Our original agreement was at 6.675 for 15 years and balance of 85% of appraisal these terms were very good and allowed us to put around $7000 per home in our pocket upon closing with our Lease contract. We have exceptional credit and I am curious if you would help in any way it would be EXTREMELY appreciated. Thanks for your time.
Sincerely,
Robert D. Diepholz
Triple D Properties
Re: Residential financing - Posted by adria
Posted by adria on January 12, 2003 at 12:20:56:
you can also sell all or part of the lease-option notes that you have now if you need the cash and can’t find a bank that will do it for you. E-mail me if you would like and I can help you sell them.
Adria