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Loan Officer?
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Have Cash-Want to make 15% interest on your money? :
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Needed Cash Investors
Want to make 15% interest on your money
plus a fee for each loan guaranteed by real estate
We are always looking for cash investors who invest in real estate and want to make 15% interest on your money plus a loan fee and it is secured by a note and mortgage with you in first position.
We have many solid investors who buy and rehab foreclosed or distressed properties then put them on the market to sell or refinance them to keep as investment or sale at a later date.
Here How it works:
Investor finds property and gets four comps in same area and size and all occupied
Example
APR (after repaired value) $100,000
Investor buys property for 50,000
Needs rehab costs 20,000
Hud statement with closing costs
Loan amount for purchase $50,000
Loan amount for rehab $20,000
3% loan fee to lender (you the cash investor) 2,100
Est title fees 350
SFS fees 600
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Total loan amount $73,050 (This wired to title company )
Shelby Financial Services will arrange the loan and prepare note and mortgage and select title company and set up closing. The title company will insure, close loan and record mortgage.
You the lender will be paid the 3% loan fee of $2,100.00 at closing and the $20,000 will be held in escrow with the title company to be released as draws to be decided . You will also have the option to collect the 15% interest monthly or as a balloon payment upon completion of project.
All loans are 90 days to 120 day terms, so this will allow you to turn the money fast and collect more loan fees. The borrower will supply four comps from a realtor or appraiser of at least 20% or more higher value of APR costs, a list with costs of improvements, time table of completion, and hazzard insurance equal to loan amount with you as additional insured.
Call or email
Roger
about this program.
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