I NEED TO RECIEVE A 25,000 DOLLAR LOAN FOR INVENTORY. I HAVE MY BUSINESS PLAN TO SHOW THE DETAILS.MY CREDIT SCORES ARE 618,642,& EQUIFAX DOESNT HAVE A SCORE FOR ME.I ALSO NEED A LOAN TO PURCHASE FIXER UPPER REAL ESTATE. MY OLDEST CREDIT LINE IS SIX MONTHS.I HAVE NO FORCLOSURES,OR BANKRUPTCIES.I HAVE ONE NEGATIVE ACCOUNT ON MY CREDIT REPORT THAT DOES NOT BELONG TO ME,I AM DEALING WITH THE COMPANY & CREDIT COMPANIES NOW TO REMOVE IT.

My sister put money down on a home that was listed as residential property, it was infact a duplex that she planned on moving into both halves and eventually making it into one home. She got approved for the loan, sent the check to the insurance company, and put the money down, and when she got it appraised, the guy told her that it was commercial property and couldn’t get the house unless she put 20% down. She cannot do that, and the insurance company and real estate places have already cashed their checks. She is very interested in owning this home, what can she do? (it was listed as residential property i believe, this is her first time buying a home, and she needs a big place.)
The house is listed as residential-multifamily, and the appraiser came in and said it was commercial. It is located in eau claire, so is there anything that she can do?

http://www.washingtontimes.com/news/2008/oct/18/whistleblower-hits-obama-friends-appraisal/

"In a complaint filed Thursday in the Circuit Court of Cook County, Kenneth J. Connor said that his reappraisal of Rita Rezko’s property was replaced with a higher one and that he was fired when he questioned the document.

Mr. Connor, a real estate and commercial credit analyst at the Mutual Bank Corp. in Chicago, also noted in the complaint that the bank received a grand jury subpoena in October 2006 requiring it to produce information concerning Mrs. Rezko’s purchase, including the bank’s files on the property.

The complaint also said that the grand jury wanted information on Mrs. Rezko’s checking account and loan file and that the Federal Deposit Insurance Corp. (FDIC) had audited the Rezko file – although Mr. Connor’s lower reappraisal had been replaced with a higher amount. "

Does anyone need a 10+ million hard money loan? Specifically in the real estate or construction sector?

I am a bit frustrated. I have been in sales for about 10 years, auto sales, then mortgages(loan officer and an account executive for a lender) The company I worked for recently went out of business and I have been looking for a golden opportunity to come my way, but it is much tougher than I thought. It may sound cliche, but I don’t really care what I am doing, to an extent, if the money is there. I have been looking into pretty much all sales fields, insurance, real estate(commercial and residential), medical sales, recruiting, investments, etc, but have not found what I am looking for, which to tell you the truth I am not really sure what that is. I am still young(28) and am willing to start over in an industry and pay my dues, I just don’t know where to look, as far as industry goes. I am a hard worker and am educated, I just want a career with a lot of potential. Any help? Thank you

I read somewhere that credit scores of renters (real estate) tend to be around 520 to 630, while credit card holders or other financial credit customers much hight?

is it because there is less risk for approving tenants to rent a real estate (commercial or regular), as oppose to someone who has trade lines with a financial institution (like auto loans, bank loans, etc)?

Thanks

One question I have is whether a cap rate of 8% is good for a cap rate of 8% is good for this type of property:

Also, where do I find people interested in buying such a property? Can I contact you for more questions?

NET LEASE INVESTMENT

20,000 SF CENTER

BUILT 10 YEARS AGO

PROPERTY LOCATED IN AFFLUENT DEMOGRAPHIC NEIGHBORHOOD..MEDIAN INCOME ,000 PLUS.

WITHIN 1 MILE TWO REGIONAL HOSPITALS

ABOUT 200 FEET FROM WALGREENS.

TENANTS INCLUDE 4 MAJOR NATIONAL FRANCHISES..ONE REAL ESTATE..ANOTHER HAIRCUTS, ANOTHER TAX PREPARATION, ANOTHER COFFEED AND DOUGHNUTS AND A MAJOR NATIONWIDE INSURANCE COMPANY FOR HOME AND AUTO..
GREAT VISIBILITY & ACCESS

STOP LIGHT INTERSECTION

SELLER ASKING 4.5 MILLION DOLLARS

I’m looking to invest in real estate through hard money loans and after some research and talking to some advisors in the field I found that you only make profit on these type deals when they are sold since the property is being used as collateral.
I’ve also heard that you can refinance the property brought with hard money, but I didn’t think this was possible since its already being used as collateral with the hard money. Can someone please share their knowledge with profiting from hard money deals. Thanks in advance.

This is dealing with Real Estate

My current loan on some real estate is coming to term, and I want to extend for another term. Vacant land, good payment history, a lot of equity, good credit.
Edward, this doesn’t concern my vote. My vote will be…mmm…unconventional.
Wow, Howard! Not only can you can solve all my problems, you offers loan in my local currencies! I’ve been looking for a lender that provides loans at the best exchange for Pjhtra to US Dollar!

For Real Estate whether commercial or residential, refinance, construction, 2nd mortgage, investment, foreclosure buyback, secured or unsecured, personal, business, signature, and auto. If you can help please contact me via email me via my profile.

In the beginning of this week the government proposed the Private-Public Investment Plan that would potentially unfreeze credit markets by purchasing prominent banks toxic assets, or newly named "legacy assets". It will purchase legacy loans and legacy securities, both backed by real estate assets.

When the private investors and government purchase these toxic assets, what happens next? How are these establishments going to possibly profit from them? What will drive their price up or down?

I am sure it’s as simply as supply and demand, but how do these markets work?

Thank you in advance!
Brandon

I’m purchasing a car through an older gentleman this weekend. I am having my auto loan financed through my credit union, but the previous lien on the car is from a different bank. The title and loan for the car are actually in his son’s name, but his son had an accident in February and is brain-damaged for life. The man I’m purchasing the car from has power of attorney over his son to sell his real estate and property. What are the requirements for such a sale? What forms do I need? What should I know before going ahead with the sale? Can he transfer the title into his name without the loan being paid off?

Hi, I have heard of a "Personal finance Advisor" since I need help obtaining information on different loan "Opportunities" And help chosing a lender. [ I need something like the services of a "real-estate" agent but for loan information] Where can I find one ?? [ private]
I am in california [ southeren]

should we do to protect our savings?
http://www.the7thfire.com/Politics%20and%20History/Federal-Reserve.html
The whole house of cards, it’s impossible to stay up…there’s not even enough currency in flow to cover bank deposits…..what should we do?

Buy real estate? Invest in foreign currency?

In the beginning of this week the government proposed a plan that would potentially unfreeze credit markets by purchasing prominent banks toxic assets, or newly named "legacy assets". It will purchase legacy loans and legacy securities, both backed by real estate assets.

When the private investors and government purchase these toxic assets, what happens next? How are these establishments going to possibly profit from them? What will drive their price up or down?

I am sure it’s as simply as supply and demand, but how do these markets work?

Thank you in advance!
Brandon
anybody???……..

I am based in Jacksonville, Florida but I want out of the state and into a real city. my desire is to work in sales or marketing up North in Chicago or New york. I have my BS degree in Business Management and have worked as a marketing coordinator and in real estate as a private investor as well as a loan originator.

Any advise on strategy would be great.

I work full time, and make over ,000 as well. I received ~1,000 in fed aid, and took out a ~1700.00 private loan. I'm also paying off a previous school loan. I have not itemized in the past, and not sure what exactly I can write off or qualify even to write off. I rent as well. I have no real estate.
So I take a "credit" for education expenses. What would that knock off my bill, a grand maybe? I paid 800.00 for a summer course, and 200.00 for fall. I spent about a hundred dollars on supplies. I'm paying out of state tuition as well.
Can I write off

-rent
-car
-cell phone (primary phone)
-anything else?

I had asked this question in 'Real Estate', but it was suggested that I post it here has well. Unfortunately, my Mother was diagnosed with lung cancer at the beginning of the year, in her will, she has left her house to me, where my family and I currently live as we have cared for her for years. There is a loan on the house which is through a private lender, and there is no death insurance on that loan. The loan i

We missed this in our loan papers and our broker didnt tell us about this . We only knew about the pre payment penalty of 4%. we need to sell this real estate but the loan co says it will cost us 80k in interest. Is there any way out of this?

Potentially an obvious real estate question, but hey, it's Yahoo answers, so I'm free to ask all the silly questions I want here:

Instead of getting a costly mortgage with a lender like Countrywide, why can't I just go out and find someone with captial and say, 'Hey, would you give me a 0,000 loan at 4%, and I'll give you first lien on the house if the payments are default?' The deal is signed at a title company and I have an EFT draft created to deduct cash from my bank for each months payments.

The benefit to me is a smaller monthly mortgage payment.

The benefit to the lender guy is that he draws 4% for nothing, and he can potentially bag the house if I default (which would be very unlikely to happen).

PROs/CONs to this plan? And what am I missing that might be painfully obvious here?
(and no, I have no plans to do this. It's just something I've been kicking around. And besides, I wouldn't even know where to go to find a rich person willing to do this anyhow..:)

I have worked hard in the past year, and managed to raise my fico score to low 600.

I have only a few bills to pay off.
once I pay these off I will raise my score to get financing to invest in real estate.

Once I pay these off I could raise my score tremendously.
To do this I'm willing to pay a high interest rate.

Ae there any interested lenders?

I would rather have a grant if I can get one…I want this money to invest in real estate that needs repair, I intend to repair property and use it for rental housing.

The area I am in is in need of decent housing, rent will be 0.00 on average to 0.00 depending on the size of the property.

I need a long term with low interest rates if it is a loan, because I am a poor man, below middle class, and I will need time to work and pay back such a large amount if my project don't workout, but every cent will be repaid and on time…my word is the most important thing I have, and I always make sure I have a way to keep it before I make it.

I’ve been looking into real estate investing for about a year now. I’m still in High School but am wanting to learn as much as I can about it, so that after college I can begin investing. I never owned a home of mine so please bear with me if my questions seem dumb. Basically I’m looking into rehabs, and my questions relate to the loans and out of pocket expenses.

When you take a loan out(bank loan or private mortgage loan) what exactly does that cover? Does it also cover any holding costs, selling costs(agent commission and closing costs), purchase costs(like points up front, interest), repair costs, or does it just cover the sale of the home? Are the holding costs, selling costs, etc expenses that come out of my pocket?

Also, is there anyway payments on the loan can be withheld until the actual sale of the home? My plan would be to buy a home, fix it, and then sell it all within a 2-6 month time period. So I wasn’t sure if lenders would just wait until the house is sold to collect their money

I know down payments are usually around 10-20% of the value, would I be able to borrow the money from a private lender to use as a down payment?

Thanks in advance for any advice that comes my way, and thank you for understanding.

I have a business where I buy real estate, rehab and flip and/or rent. My partner and I are doing great but we are looking for private investors to bypass banks. The main question I have is this: What type of return do you pay to the investor? Is it a percentage of the total loaned, monthly payments from rent…? We simply dont know. So, If I bowrrow k from an investor, do I pay him back (as an example only) k? Do I give him monthly payments? Is their a time frame?

Thank you VERY much in advance. I live in Illinois and we are trying to figure out the most amicable way to repay the investor.

Thanks!!
All,

Excellent responces and I thank you. I have another question: How do you find private investors?

And How do i go about it? I took a brief real estate class and i remember the general discussion of hard money lenders and how they give you a large sum for a short time for things of this nature. I'm thinking about getting my first home but have limited funds and thought of this as an alternative.

We are looking for a ,000 loan or credit line for our business. We have been around for almost two years and we have good collateral through real estate investing. We also have good personal credit. We have not applied before but now we would like to have access to reserves credit to pile cash. Should we look at some small local banks or a bigger bank for this?

Thanks