New Private Loan Options for Investors and Flippers!


 

What an amazing year for private funding, hard money, commercial funding, equity funding, business funding, unsecured funding; all kinds of capital for many purposes.

Lenders are stepping up to make loans in ravaged areas in Florida  & Texas, as well as nationwide in major urban areas.

Fix and Flippers works with key lending partners to provide the best loan terms and flexible structures so investors have multiple options for leveraging their hard-earned capital.

The climate of private lending has changed because competition has greatly increased, also the influx of 1st-time flippers hungry to get a piece of the pie has produced a perfect storm: lots of inexperienced & unqualified applicants to pre-screen and underwrite – it’s a very expensive operation if you have your underwriters, processors, and assistants burning through hours of documents if they don’t lead to real closes with ROI for the investors involved & for the brokers who bring the business.

This has resulted in more restrictive requirements for approval such as Fico score minimums – from my experience, they question why a successful businessperson who is worthy of a risk of $100k-$1M wouldn’t be able to pay even $1000 to repair and clean up their credit? Also, please don’t mention 2008 or the past economic events – they don’t want to hear that! It’s 2017.. Bottom line – without 650+ fico scores expect high-interest rates (9-12%) and lower LTV’s due to you being a credit risk (80%-85% LTV max)

What mitigates your credit score IF you have a great explanation? (like a recent credit event within the past 2 months caused your score to swan-dive)

Having lots of experience (recent experience) again, don’t mention 2008 or prior…and most lenders may look the other way and consider you a better risk.

What if you don’t have recent experience and your score is not 650+? Then I’d be prepared to bring 15% down-payment, and it doesn’t necessarily need to be seasoned or sourced, but it has to be documented..so have a statement to prove you have it.

Also, I have a great contact that I use for credit repair and authorized user trade lines (I know the account holders) – just ask me for those referrals!

What if you have no experience, and have no down-payment, but have good credit 680+ fico?  I’d suggest you apply for my unsecured-credit program to raise up to $250,000 unsecured credit lines/cards in 1-2 weeks to create a 100% financing scenario!

If you are a great candidate – have completed multiple flips and/or rental purchase/acquisitions within the past 24 months, 650+ fico, and 3-6 months of interest reserves in your bank account, I can roll out the red carpet for you in most cases: 90% LTC or 90% purchase, 100% of rehab, luxury spec builds/construction to $2M-$50M, commercial refinances with cash-out or purchase 75%-80%, even small loans from $50k.

Niche Loans: Gap Loans – These are 2nd TD loans that we make behind our 1st TD’s, never others. We will gap great candidates with lots of deal flow that have experience, capital, average to good credit and the deal must be in an urban area and pencil at or under 65% of ARV (after-repaired-value) Lots of our lenders make loans nationwide.

Commercial  Financing- 3yr/8yr/ fixed, special pricing this month! Hotel, Apartment, Industrial, Self Storage, Solar Projects, Multi-Family, Office, Warehouse, NNN properties, Shopping Center, Assisted Living, Residential portfolios, Construction Loans, Mobile home Parks, Resort properties. Bridge loans, SBA

We can make QUICK (3-5 day loans) against Free/Clear properties up to 50% LTV, max loan is $50k, the minimum is $5,000!

EMD funding – If you need Earnest Money Deposit funding – Not a loan, but allows you to use investor money for 30 days in escrow protected by an addendum added to the contract. Complete your deal, pay the funds back!

With my 16th year in real estate, I’d consider myself a massive resource center, and its hard to turn those contacts into a commodity,  I hope points & rates won’t keep the best candidates from reaching out! Most of the time, I only give the best deals to people whom I have done business with (broke bread) once we feed each other, I know we have a mutually beneficial relationship.

Let’s finish the year strong and build some alliances! 

I have set up a secure site you can apply NOW! www.hardlendr.com

Greg@FixandFlippers.com – 323-632-3279

New Unsecured Funding Programs, Just in Time for the Holidays!


We have multiple unsecured funding options available:

Program #1

I’ve had success getting people credit cards and credit lines in excess of $180K in 10-15 days. these come in various amounts from $1000-$50,000, can come in cards, credit lines or hard checks mailed to your home to be deposited in your bank account! Some intro rates are 0% APR for 12 months to incentivize you to use the cards, some start off at 26%+. We don’t ask for financials, bank statements, tax returns or proof of income!

Minimum loan is $30,000, max is around $300,000.

Customers have used these funds for real estate purchases, commercial properties, down-payment, EMD, reserves, etc.

We also have our own credit card processor to facilitate the liquidation of credit lines/cards.

We also have “Equifax” only financing, if that score is 680+, we’ll use it.

No business plan is needed!

Prior bankruptcy must be over 5 years, no open collections.

Can’t use CPN’s for these loans.

Program #2 – Business must have 2 years operation, must own real estate, they can give a 2nd or 3rd mortgage, 10-21 days – Have to have cash flow, Above 500 Fico.

Program #3 – Must have good credit w/Biz tax returns – 680+ fico, have Profit & loss, 6 months bank statements, 2 years personal statements, up to $1M in revolving or term funding. No upfront fees, no underwriting fees, back-end points.

Program #4 Must have a good corp, in good standing with history &  stellar credit, but no tax returns, but servicing $500k in debt currently (strong credit profile) there is a 37 point checklist which checks for registrations, database entries, etc. which we can consult on.

Need 740 Fico, This is a stated assets and stated income program. Takes 21-60 days to complete the 1st round of funding. 1st round is $150k-$250k

Visit www.GetUnsecured.com TODAY to get started!

 

Recently Closed A Bulk Performing Notes Deal, Looking for More Assets!


Fix and Flippers, LLC has closed a bulk Performing Notes purchase transaction with two private companies for an undisclosed amount.

For many years I’ve attempted to locate a perfect match: a buyer and a seller for non-performing or performing notes. Like many colleagues, I’ve encountered the most frustrating situations: after being hand-walked into a servicing company 5 years ago, I was delivered notes on a platter, but I hadn’t identified a true buyer, and consequently, I burned my relationship because my “buyers” did not or could not close anything.

Then over the years I’ve met many true and serious note buyers who could not prove their capabilities to me because I had no notes to sell them. This was soon to change.

Recently I was introduced to a note seller through a referral partner, they proved to hold some product of interest but like most deals – ultimately fell apart.

Rewind to December 2016, originating from a Craigslist ad – I get a response to an ad I post regularly about private trust deed lenders who make loans to flippers, especially in 2nd position, as gap lenders, he explained that although in his companies’ 25 year history they’ve purchased performing and non-performing notes as well as REO from banks, credit unions, savings and loans, builders, mortgage companies, private equity firms, and that they’d buy a single loan and has closed $100M loan portfolio and now they’ve had success buying from individual investors and offering them an outlet.

He wanted me to refer my private lenders to them, but of course, I needed a way to vet their company.

All year I’ve been sending them note packages and they make bids and proceed with due diligence, which lead to notes with no discount, heavily shopped, fake packages, notes with no title policy and/or missing or incomplete paperwork, until finally one of the many leads I’ve introduced to them: brings a fresh portfolio of 20+ performing, agency quality performing notes, of course many things went wrong with the deal, with the usual transaction drama that ultimately resulted in a large portion of the notes to be dropped from the purchase, but finally it closed!

Now we can officially add this to our resume of different transactions we’ve facilitated or been a part of including single family, bulk single family, an operating business, various kinds of loans/funding and now bulk notes.

This is the time of year when lenders may have loans on their books that they want to get off before the end of the year. Also during the year institutions will lose investors and investors decide to discontinue programs. They can sell to my buyer.

Experts would agree with me when I state that: A portfolio or seasoned, long-term, low coupon fixed rate loans can become an asset risk liability…

Sub-Prime loans that remain in company pipelines and portfolio can become a risk liability.

 

Note Purchaser Looking for:

Anything Nationwide Performing or Non-Performing, REO, Deed in Lieu, SFR, Condo, Duplex, Multi-Family, Strip Centers, Offices, Warehouses, Churches, Mobile Home Loans, Residential, Commercial, Rural, Land and unusual properties.

  • They look at everything.
  • They’ve closed over $3B in assets.
  • Target Areas: FL, TX, Houston, Dallas, NY, L.A., CA
  • They offer a complimentary portfolio market analysis with no obligation to sell.

PAR and Premium prices are still available for loans that warrant PAR and Premium

(Both Fixed Rates or ARMs such as performing Residential loans SBA 7a loans, FSA’s, HCEM’s and USDA’s)

They accept seasoned loans.

Fixed Rate, Adjustable Rate, Agency and Non-Agency quality loans either servicing released or servicing retained.

Keep eyes open for REO Class A/B industrial warehouses in key markets in the US and Mexico.

Excellent and Poor Credit Assets

If you have an asset to sell, please contact me if you need liquidity and for pricing. Please send data via spreadsheet for easy review, email me if you need a copy of the bid indication format.

Contact Me Today! Let’s Close Some Deals Together!

323-632-3279- Greg@FixandFlippers.com

Looking for Quality Workmanship in a General Contractor? Licensed/Bonded/Insured, no job too small


We are a high-end construction rehab team consisting of an experienced General Contractor of 20+ years, Real Estate Agent with 10 years experience & Marketing Executive with 15 years experience.

We are in the business of locating, privately funding (through trust deed lenders) luxury rehab projects throughout the Los Angeles area. We are well experienced with all phases of rehab and construction including basic kitchen/bathroom remodels, swimming pools, windows, smooth finish stucco, landscaping and complete demo/scrape/ground-up construction.

We are always in the market for off-market fix/flip candidates that we can either add square footage, repurpose, re-zone, sub-divide or improve for a profit. We’ll look at anything that has upside.

If you are looking for a dependable, fair contractor that’s licensed, bonded & insured to manage your project, or manage your contractors & sub-contractors, contact us! We can also provide the initial SOW (Scope of Work) to your lender and be your experienced contractor to help you qualify for ARV loans!

Right now reinforcing & replacing the fittings in your home can be important if you have an older home, since we live in an earthquake State! We can help with this!

We can provide one-on-one mentoring for 1st time flippers, women are welcome to contact us!

If you’re interested in becoming a gap partner or trust deed investor, let me know, we constantly have opportunities to fund. We can keep your funds moving.

Here are some projects completed and shows our work..

9222 Bartley Ave Santa Fe Springs, CA 90670 

Purchased on 3/21 for $350K,

Sold 9/16 for $500k after investing $50K rehab.

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653 Tularosa Dr. Silver Lake, CA 90026

Purchased 3/15/15 for $625K, Invested $250K rehab

Sold for $1,350,000 on Apr 12, 2017

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4083 Sea View Ave Los Angeles, CA 90065

Purchased  8/24/16 for $1,150,000 With a rehab budget of $300,000. Currently in construction with 60 days remaining.

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Almost Finished- 60 days left

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Business Funding to $500,000, not all Fico based


Business Funding

Use the money for ANY purpose you choose.

No Personal Guarantees

No Collateral

No Upfront Costs or Obligation!

$5,000 – $500,000 within hours

 

Small Business Loans

Fixed Term, fixed payment

Terms from 3-15 months

Business funding not tied to credit

Merchant Cash Advance

Eligibility based on business revenue

Repayment based on cash flow

We work with most credit scores

Equipment Financing

Fixed monthly payments

Terms from 18-60 months

Credit based

  1. High funding Levels
  2. Longest term options
  3. Have adequate cash flow
  4. Payroll solutions
  5. Pay Tax Bills
  6. Purchase Inventory
  7. Have a New Opportunity?

To qualify, your business must have:

$100,000+ in annual revenue

6 months in business

No open bankruptcies

Email me or Complete the Form Below 

Greg@FixandFlippers.com

Private Portfolio Builder Program – Build Your Nest Egg!


I’m working with a group of Midwest originating brokers who are helping clients acquire assets and build their nest eggs. This is their program.

A Program designed for Real Estate investors to Acquire, Cash flow,

and Re capitalize on Rental Properties!

As Real Estate  Investors  know these days; Banks, Lenders and even Private Capital want large down payments to purchase non‐owner occupied investment properties, for the purposes of building a rental portfolio. The secret to building wealth in real estate is building large monthly positive cash flows. In the recent years, that has become  increasingly difficult.

So, let’s isolate the biggest problems real estate investors have in growing their portfolio, while explaining how the Private Portfolio Builder Program overcomes these issues:

Growth Capital Whether it’s a 20% Down Payment or Larger, that’s a lot of capital to put out there to purchase a rental property. Even if the internal rate of return is 20%, it still takes 5 years for a Real Estate Investor to re capitalize their down payment investment.

Lack of access to growth capital puts any business, whether real estate, or selling hamburgers at risk of not being able to grow. A simple  rule of thumb is if you are not growing your business, you are losing profitability, due to the increase in COGS and other operating costs that virtually increase  every year!

With banks frowning upon Real Estate Investors and their businesses,  this is still a tough environment for those that need to have access to capital to grow and thrive, instead of just survive!

Solution The Private Portfolio Builder Program has partnered with a 2nd Mortgage Lender that will only lend to participants of the program. This 2nd Mortgage Lender has great rates, and has agreed to lend a 2nd Mortgage on any of the Program’s assets.  This second mortgage will provide:

  1. 20% Down Payment required by the 1st Mortgage.
  2. $15,000 Above the Purchase Price to re capitalize the investor to allow for more Acquisitions within the communities. This is funded through the Community Reinvestment Loan.
  3. Utilize this program for up to 4 purchases of Multi Family Properties (2-4 units)

Why is this Program so Advantageous to a Real Estate Investor looking for Cash Flow Producing assets?

  1. The Community Reinvestment  Loan allows Participants to Purchase other Rental Assets and Increase  Portfolio Holdings through our $15,000 Recap Program.
  2. This Stabilized Program will ensure  long term Success  with our Asset Management Strategy.
  1. Turn-Key and Auto Payments through our development and Voucher Program.

Now, this doesn’t mean that program Participants do not have to put down a down payment or have reserves. The first mortgage still requires the down payment and reserves, so that must be placed into the transaction. What we have done is developed a relationship that will recapitalize your down payment plus $15,000 recapitalization,  allowing you to continue to build your portfolio, while capturing the cash flows that our Program’s buildings will offer!

Yes. This program has complexity to it, and does require a two step closing of the purchase 1st Mortgage, and then our Lender’s 2nd mortgage a few days after the closing the 1st. We are not only real estate investors, but we understand banking and private lending very well. This is the only way that this program becomes viable, as people without the knowledge and experience of the Chicago Real Estate Markets along with the banking and financing markets would simply not be able to fund these deals.

Stable Income – It is very important to have the stability of income when you are a real estate investor. This program is designed through a section 8 Voucher Program that is funded and dispersed through the City of Chicago’s low housing Program, ensuring that payments are always received between  the 1st and 5th of each month, so there is no more tracking down tenant’s rental payments, therefore protecting your monthly income.  How many horror stories have we all heard about tenants  that just do not pay their rent, and the eviction process can take months?

Solution The Private Portfolio Builder Program focuses  on subsidizing the assets that are purchased by members. We utilize local management companies that have experience  in placing long term section 8 renters  and other  Chicago Subsidized Housing Programs into units. This ensures  that each investment performs monthly, and reduces the turnover rate due to Lower Income Tenants move less frequently.  By providing an experienced Maintenance Staff, and an Experienced Management Company, Program Participants benefit by reducing costs, while increasing the monthly rental by 20% more than market rates, and producing a steady subsidized cash flow. Subsidized Tenants are a great way to build passive cash flows. When a Landlord provides safe,  clean,  updated  living accommodations  in the City of Chicago, you can count on a high occupancy status from just the referrals alone.

Section 8 pays each month during the duration of the contract,  and if you work with the tenant, and the case worker, it becomes a long‐term relationship. It’s just a matter of providing Safe, Clean, Updated housing, and then communicating with your customer (tenant) monthly to ensure everything is going OK. Subsidized Programs  in the City of Chicago have large waiting lists of Tenants to place into rental properties. There is no shortage of demand in this sector.

Business Modeling Very few small investors professionally model their business, and ensure that their small business is meeting the needs of the community it is located in. How many investors plan their business from start to exit? The better question is, how many investors align themselves with current market trends? What about having the capital relationships to take you from start-up to growth stage?

Solution Years of experience  in Chicago coupled with professional relationships that understand the Business Model, means the Private Portfolio Builder Program is not only profitable, but is a great example of how to model your business. This program is not only specific to Chicago, but can be done in other markets of the Country.

As we expand again, we shall offer more markets,  but Chicago offers a great off market wholesale environment versus a waiting list of subsidized tenants waiting to lease a unit. Since the purchase prices have not recovered as much steam as other markets in the US, but rental markets have risen.

Private Portfolio Builder Program Key Points:

1.)  Off Market Inventory only.

2.)  2, 3, and 4 unit residential properties only.

3.)  Preference  is given to 2, 3, and 4 or 5 bed room unit mixes.

4.)  Preference  is given to Subsidized Tenants Vs. Cash Tenants.

5.)  Preference  is given to Brick Buildings Vs. Wood / Sided Buildings.

6.)  2nd Lender provides 20% Down Payment plus up to 15% of the Purchase Price ($20,000) on a

Community Improvement Stability 2nd Mortgage.

7.)  Properties  will present  a minimum of a $500 positive cash flow per month up to $1350 per month after all expenses and debts are paid. (Including the 2nd Mortgage)

8.)  Professional Managed, Professionally Maintained. All third‐party companies connected with the program are duly licensed in their respective fields of service.

Qualifications for Participation into the Program:

  1. 2 Years Tax Returns showing sufficient income to have a Debt to Income Ratio of 47% of less.
  2. 2 Current Paystubs.
  3. 3 Months Personal Asset Statements showing 20% + 6 Months Reserves all debt.
  4. A FICO Score  that  is above  660, with no score being lower than 640. NO FC, BK, 1 x 60. Please provide a credit report that you pull for qualification purposes.
  5. State ID or Driver’s License.
  6. Completed 1003 w/ REO section.

Disclaimer: This is not an offer to sell securities.  This is not an offer to lend.

Contact me & I’ll introduce you!

Greg@FixandFlippers.com

 

 

 

100% JV Financing – SFR Flips, Specs, Ground Up Construction!


 

Must be in a hot market.

Florida, Texas, Ohio, Illinois, California, or New York other markets considered but again must be HOT!!

We are aggressive: Commercial Multi-Family only, or 1-4 Unit Fix and Flip.

I will only work with well qualified investors that have experience. You must cover the closing costs, have a 660 FICO, and 6 Months reserves, plus verified experience.

Ground Up – OK, Fix and Flip OK, Repositioning OK. Major Rehab OK.

$1,000,000 and up only.

$10,000,000 Max on the first deal.

Hollywood Hills SFR Rehab, Nice Canyon Views – Wholesale Priced for Experienced Flipper


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We currently have this tied up and ready to wholesale to an end buyer.
The buyer would need to replace our $15,000 EMD ASAP. They need to close by end of month.

We’ve walked this property and I can introduce the buyer to the President of the Laurel Canyon Association – this will help the overall process. He is also a land-use attorney specializing in permitting.

The property has some issues and has been condemned by the City. The buyer would have to assume this responsibility.

8351 Kirkwood Dr. Los Angeles CA 90046

Tear down- Single Family Residence
Sunset Strip – Hollywood Hills West
Built 1927
2/1 – 1358 Sq Ft

Redevelop as 3/3

Rehab $200k
Asking $625k
EMD $15k
Comps $1.2m

Will need complete rehab and retaining wall, and create an access point such as a driveway…

Review the numbers, it’s vacant, I’ll give you the lockbox, and go direct.

Greg@FixandFlippers.com

858-386-0949

 

Great Time to Purchase A Home or Refinance Your Conventional Mortgage!


I know some lenders helping people out with their conventional mortgages, here are some of their programs:

Checklist for Pre-Approval

  • 2 years Tax returns
  • 2 years W2
  • 2 Months Paystub
  • YTD P&L (If Self Employed)
  • Driver’s License
  • Loan Application (1003)
  • Schedule of all Property Owned

States Where Loans Are Available:
CA, AZ, WA, CO, IL, FL, TX, OR, MD, ND, UT, IN

30, 20,15 and 10 year mortgages available.

Refinance Quickly with NO Appraisal!

Over 2.5 Million have taken advantage of the Home Affordable Refinance Program,

High LTV’s are OK

Programs Offered:

  • Reverse Mortgage – Easy to Qualify. Great for seniors who’d like steady flow of monthly income, and they can access their homes equity. Spend it how you like, when you want. No monthly payments, but you must maintain the property and pay taxes & insurance. The loan is repaid when the borrower exits the property. These are also offered Fixed or Adjustable & can be used for purchase or refinancing! Choose lump sum, monthly payments or line of credit.
  • Low Fixed-Interest Rate Loan – Lock in a low interest rate by refinancing
  • Adjustable-Rate Mortgage (ARM) – Great if you plan to move soon and are not worried about your interest rate increasing, but still want to lower payments.
  • Short-Term 15-Year Loan – Perfect for those who want to pay off their existing mortgage faster with less interest over the duration of the loan.
  • Home Affordable Refinance Program 2.0 – Designed to help homeowners who are current on their mortgage but have little equity in their homes: you can refinance and lower your rate and payment.
  • FHA Loans – Qualify with a low credit score and 3.5% down-payment, which includes mortgage insurance. Most Fico’s are Accepted.
  • VA Loans – Buy a home with no down payment or mortgage insurance & offers great rates. Fast Processing! Turnkey Process.
  • Jumbo Loans/Super Jumbo Loans – Loans up to $5M for primary residences or investment properties & you can choose between fixed or adjustable rates. Jumbo loans may have higher rates and larger down payments.
  • Non- Qualified Mortgage – Bank statement program for Self-Employed Income, Foreign Nationals, Loans up to $5M, B/Ks and Foreclosures less than 12 months, non-warrantable condos are OK! 

*One-Time Construction Closing

Benefits of Refinancing:

  • Lower Payments – Lower your home loan payments and refinance.
  • Less Interest – Reduce your interest rate, save money by refinancing
  • Shorter Terms – Change the length of your loan & pay it off quicker with a 15-year loan.
  • Release Equity – Take cash out of your home’s equity to make home improvements, a big purchase or pay down your credit cards to raise your credit score and profile, or take a vacation!
  • Convert an Adjustable Rate Mortgage to a Fixed Rate mortgage.
  • Zero Closing Costs – No Closing Costs, No money down, risk free!

What You Need To Qualify For a Loan:

  • 580 – 660 Fico+
  • Cash Reserves/Verifiable Income

If you have interest, please inquire below:

 

Vacant Pasadena Fixer – Wholesale Priced


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239 E Howard St, Pasadena, CA

2/1. 966 Sq Ft. 7499 Sq Lot. *

This is a solid property that needs cosmetic updates thru out to your liking. This market moves quickly. You need to add 400 Sq Ft to this property and spruce up the interior and exterior to grab an easy $730,000 to $740,000 ARV. Need to place EMD to lock deal.

Asking Price: $507,000

*Projected Rehab Cost

*966 Sq Ft x $50 / Sq Ft = $48,300

*400 Sq Ft x $120 / Sq Ft = $48,000

*Landscaping $3,700


*Total Projected Rehab Cost = $100,000

*Projected All In Cash = $602,000

*$502,000 x 20% Down Payment = $100,400

*Projected Closing Costs @ 4% = $20,064

*6.67% + $1000 (Utilities) Holding Costs = $34,456.72 (Projected Note Rate @ 10%.)


*Projected All In Costs (Hard Money) $154,920.72

*Projected Resale Value: $735,000

Suggested Comps:

1.) 467 E Howard St, Pasadena, CA

3/1 – 1,384 Sq Ft – 9,757 Sq Lt

2/10/2017 Sold for $727,000

2.) 787 E Howard St, Pasadena, CA

2/1 – 1,198 Sq Ft – 7,654 Sq Ft

3/8/2017 Sold for $740,000

 

Greg@FixandFlippers.com

*This asset is being sold as is where is. There are no contingencies. Please email/call/text for Sales Structure. Clean and Clear title will be provided at closing. Buyer must do their own due diligence. Seller makes no warranties as to accuracy of projections, nor empirical data provided.

Can facilitate Hard Money/commercial in most states,stated owner occupied loans in CA, Unsecured credit to $200K (700 fico) in 2 weeks…
*Contact me if you want to make a referral, we can share fees!  Ask about 80/20 100% JV Fix/Flip loans Nationwide, no min Loan Amt, no fico requirement, up to 90% purchase, 100% of rehab for most Fix/Flip projects, no split.