private money rehab loans

[sealthatdeal]

We offer a 100% rehab loan program nationwide as we are the direct lender.

We charge 2 points on most deals.

We close and fund within 2-4 days.

We can defer payemts for 6 months.


Thanks,

Ryan Gunnels
Interim Loan Specialist
Seal Home Loans
www.sealthatdeal.com
704-719-4590

[StepUp]

All 50 states, nationwide? Any application fee? Is this a line of credit? Do you have requirements on the age of the LLC? Do you provide VOF letters?

Eric

[sealthatdeal]

Only states we do not do is OH, MI and LA currently. No application fees, not a line of credit, no time frame on the LLC and yes to the VOF.

Thanks,
Ryan www.sealthatdeal.com

[StepUp]

From your website, you note requiring a survey. What kind of survey? Also, you require an inspection. Is this from a licensed home inspector or just an estimate of repair? How many loans do you allow at one time? What is the $ limit you lend to on one project?

Eric

[sealthatdeal]

A full survey, the inspection is done as an inspection/appraisal combo from our appraiser that subs out nationwide. The inspection will be as an estimate of repair. We can do as many loans as needed at one time but not in bulk.

After $500,000 the LTV goes down.

Ryan
www.sealthatdeal.com

[Ceres]

inspection/appraisal ? is that the Hud VC Form that is used?

[sealthatdeal]

If I may.........


You give just a name, site and phone number. Yet, the site has no physical address on it and the phone number is a Charlotte,NC one (maybe a cell) yet the site is registered to you across the border in SC with an 803 number.

Our main office is: 5373 West Alabama Street, Houston TX 77056. I am in Lake Wylie SC right across the border of Charlotte NC working the eastern region although we can lend nationwide.

You don't give any information as to the licenses you hold in any states. We are not a mortgage broker. We are a direct lender and we do not need licenses for any states. Although we are a partner to a mortgage company for Texas only so they can do the take out loans. That license is: #12411

In short, it is impossible for anyone to judge the legitimacy of your company from what you have offered so far. I am not sure what you think I have offered. I simply explained the type of loan we offer.

Yet, you want a borrower to give you a zoomed copy of their drivers license, a copy of their social security card and the right to pull their credit report every 90 days. Well I am not sure how many loans you have been apart of but there is a law called the "patriot act" which requires by law that banks and mortgage companies collect a copy of a drivers license and SS card. If you have gotten away with this in the past, you might want to write a post to them that you wrote me. And as far as the 90 days for credit, we do not pull it every 90 days. If you buy 30 properties from us within 90 days, we only want to see your report once. You may also provide your own copy. In my opinion, that is pretty darn easy.

BTW, I have never and will never let any lender make a copy of my drivers license nor my social security card. There are no real reasons for them to have it. I know the excuses they give, but they are just that, excuses for being lazy. And the potential for identity theft goes up exponentially every time you let someone "make a copy for the files". Again, it is called the "Patriot Act" and it is a law from the President of the United States.

Not saying there is a problem here, but there are some warning signs.

P.S. We have a great track record with the HomeVestors franchise nationwide. Here are some testimonials on our site:

“Very easy to work with, and can close deals quickly, allowing me to buy hot properties quickly and easily.

No frustration, no hassles. Just fast results!"


David Atiles

Houston, TX



"Thank you for providing consistently outstanding service to us. Your loan programs have proven to be

dependable and perfectly suited to our fast paced property rehabilitation business. Your quick transaction processing and excellent attention to ever changing client needs make it a real pleasure to work with you."


Robert Helms



"They are a reliable, turn -key funding source. When I submit a loan package they process it quickly, every time. I am able to buy more houses, and make more money."


Jason Arguedas, Rehabber



"I would like to express my thanks and appreciation for the speed and professionalism with which you have always handled your business affairs with me and my family. You have been an integral

part in my growth and success. I have always been able to count on you to do exactly what you say. Thanks again for your help, cooperation and the speed that you have always handled my business."


Jim Lomonaco



"Our experience has always been positive. They have delivered what was promised and on time.”


Pam Whitworth

Heart of Texas Properties



"You rank superior in all aspects of service"

Erica and Joe Castano
Texas Majesty Homes



"...An invaluable asset to your business."

Rose Douglas,
Rose Investments


"Thank you for the many loans you have given us over these past few years. We really enjoy working with you and your helpful employees."

Rose Rhoton



"It is nice to deal with someone dependable. Not all...lenders can be trusted to do what they say
but you have always performed."

Bill Wise,
Abbey Restorations


"They are a reliable, turn-key funding source."

Jason Arguedas,
Rehabber


"They are easy to work with, their rates are competitive, and they truly understand the business."

Jon R. Kubas,
Westwinds Group



"You have been an integral part in my growth and success."

Jim Lomonaco



"Thank you for providing consistently outstanding service to us. Your loan programs have proven to be dependable and perfectly suited to our fast paced property rehabilitation business."

Robert Helms



"Your company has always given us great service and ranks as one of the top lenders in our area."

Dennis Arocho

[mike_mn]

You don't give any information as to the licenses you hold in any states. We are not a mortgage broker. We are a direct lender and we do not need licenses for any states. Although we are a partner to a mortgage company for Texas only so they can do the take out loans. That license is: #12411


You might want to forward this to the owners of you company if you are doing loans in MN and don't believe you need a license to do so. An excerpt from the Q&A on the State Commerce department website regarding whether or not you need a residential originator or servicing license in MN.

I want to engage in residential mortgage loan activities. What license do I need?
Minnesota Statutes, Chapter 58 requires a person who acts as a residential mortgage originator or makes
residential mortgage loans (which includes both brokers and lenders), to obtain a residential mortgage originator
license. A person who services residential mortgage loans must obtain a residential mortgage servicer license.

[Debbie]

Did someone mentioned "HomeVestors"?

Hmm, that has been discussed before and not necessarily in favor.

Here's the links:

http://www.magicbullets.com/forum/showthread.php?t=6024&highlight=HomeVestors

http://www.magicbullets.com/forum/showthread.php?t=2706&highlight=HomeVestors

http://www.magicbullets.com/forum/showthread.php?t=2203&highlight=HomeVestors

[sealthatdeal]

Thank you for this time you have given us all on whipping our company down. I work for this company and do not own it. The funds come from private investors and we have been lending since 1989.

You are welcome to continue with your "inspector gadget" investigations and post them on this message board. I do not have a thing to hide. This is my second reply to this fun beat down and have realized a good deal of time is being wasted. I feel like I am 16 and arguing with someone on a high school chat board. I no longer wish to do so.

I am here to help those in need of a rehab loan. It is as simple as that. We are very reputable.

One more thing, there are people out there that others want to be around. They are called positive people. I have checked on your other posts. It seems like you are the arguing type and just want get things started. I promise, there are more important things going on in this world than you to surf this message board, find a lender offering a service and then rip them apart for no reason.

There is one other guy that used to be like that about two years ago and his name was Kemper. I remember all the negative things he used to say. I think I have seen his name on here. You guys must be buddies.

So in close, I am very reputable with the company I represent as well as myself as a person. My family depends on me to be. I will no longer play these games. If you would like to give me a call, please feel free to do so. Others on this board probably don't appreciate all of this. My direct number is 803-810-0197.

[Burke]

Others on this board probably don't appreciate all of this.

Personally, I appreciate those on this board who assist everyone else in
"watching their back". We need to do more of that.

[DAM]

We offer a 100% rehab loan program nationwide as we are the direct lender.

We charge 2 points on most deals.

We close and fund within 2-4 days.

We can defer payemts for 6 months.


Thanks,

Ryan Gunnels
Interim Loan Specialist
Seal Home Loans
www.sealthatdeal.com
704-719-4590

Ryan,

you mentioned 2 points here, but on your site it say 4-5 points.

Can you please clarify the difference

thanks

DAM

[Thirdcoastinvestments.net]

I have heard of Seal Home Loans. I haven't heard anything bad.
Sounds like he has a decent deal.
I don't know why the site domain is reg.to him but, I know that my 5 company cell phones are not in name but in my operations Managers name.
Does this mean I am not a real company?
I think we should ask questions and verify information. But ya'll are attacking him.
There are 100's of fake investors and wanna be mentors, Track them down and destroy them.

Ryan call me I wanna do business w/ you.

[Bernie (FL)]

You are da man KenD, exposing this person.

You all notice after KenD posted that the guy was posting on another web site under a different last name, he hasn't been heard from since.

If this guy was on the up and up he would at least give us his real name.

Thanks KenD aka Ken D'Man!! :praise:

DSutter great work to you also! :praise:

ThirdCoastInvestments...what are you thinking? You stated at the end of your post..

"Ryan call me I wanna do business w/ you."

Which Ryan are you going to ask for? :question:

I normally don't chime in on posts like this but, I just had to this time.

For those of you wondering about Homevestors..I am posting an article from the St Petersburg Times..

FEASTING IN A DOWN MARKET
[STATE Edition]



St. Petersburg Times - St. Petersburg, Fla.
Author: JAMES THORNER
Date: May 27, 2007
Section: LOCAL/REGIONAL (LCR)
Text Word Count: 1396



Document Text




Copyright Times Publishing Co. May 27, 2007
Sliding prices, ballooning payments, foreclosures ... and deals to be made by those who have cold cash for desperate homeowners.

The blue-tinted windows looked odd, not the facade of your typical Florida house.

As Shaun Carcary cracked the front door of the newly bought investment home in Town 'N Country, the stench knocked him back. Hundreds of cans of food stacked in the house by the former absentee owner had burst and oozed all over the floors.

The blue windows? The panes were teeming with a living, feasting colony of flies.

"It was so bad the rats had died," Carcary said.

Carcary tells the yarn from the safe distance of a couple years, behind the iron-barred windows of his real estate office in a raggedy section of Ybor City.

He runs the region's most successful HomeVestors franchise. You may have seen the company's "We Buy Ugly Houses" billboards and its caveman mascot named Ug.

The housing market has tanked. Banks threaten thousands of homes with repossession. Homes linger so long on the listings that some sellers dump properties for a song.

It's a great time to be Shaun Carcary. The 42-year-old South Africa native has built a business on paying 50 cents on the dollar for stressed houses. He gets plenty of takers.

"Yeah, you can call us bottom feeders," the burly former surfer and insurance agent says from his office converted from a defunct Spanish restaurant. "But it's savvy investment as far as I'm concerned."

It's 11 a.m. on Monday. Carcary has just returned from a fishing trip in the Florida Keys and has a tan to go with his goatee. While he was away leads have poured in from desperate homeowners - 120 in the past week.

Right-hand-man Ryan Rickard pokes his head into Carcary's office.

"Hey listen: I've got five interesting leads that haven't been touched," Rickard says.

About 20 minutes later Carcary, Rickard and South African "cousin- in-law" Riaan Swart are rolling up Interstate 275 in their Ford Expedition, accompanied by a reporter. Polo shirts and shorts are their unofficial uniforms.

They've heading to the home of Sean and Mary Dean. They live in Wesley Chapel's Lexington Oaks golf course community. Their 2,550- square-foot stucco house isn't ugly. But their financial situation is.

Mary Dean complains they're two months behind on their $1,750 monthly payment. By early June the bank has threatened to get tough. Sean Dean was laid off from his metal working job. They have a For Sale sign out front, but no one's biting in the tepid market.

The HomeVestors team gives the house a once-over. Rickard conferences with the Deans at the dining table. He vouches for HomeVestors reputation, tells the couple he'll get them the best price he can, reminds them he's a no-hassle cash buyer.

After the 10-minute pitch, the team is back in the Expedition rocking down the highway to Tampa. Carcary's driving.

"What's the deal?" he asks.

"If it was up to her, she'd sign the contract right now," Rickard says.

"Uh-huh," Carcary says.

"I'm telling you now, we can get this deal," Rickard says. "When I told them about the 80 other houses for sale in the neighborhood, they about spazzed."

Brutal logic

A model nearly identical to the Dean's sold on their street in November for $302,000. Rickard does a quick calculation and comes up with his best price: $165,000.

The couple owes $143,000 on the house, so HomeVestors' offer would leave them about $15,000 to $20,000 after closing costs.

If the bank forecloses, they could lose every scrap of equity and ruin their credit for seven years.

"It just depends on how logical someone wants to be," Carcary says.

In 20 minutes, as the SUV turns south of Tampa's Hillsborough Avenue, golf courses are only a memory. The 50-year-old houses in the Eastern Heights neighborhood are showing their age. Sags. Cracks. Even the weeds look sick.

Carcary bought a concrete block house from an investor on Cayuga Street for $85,000. He's fixing it up and plans to resell it for $150,000.

The HomeVestors guys notice the For Sale sign out front is missing. Again.

"We've had a yard sign pulled out about 10 times," Carcary says. "So we just stopped putting them out."

Over the weekend, someone busted a back window and left seedy calling cards: Three empty Trojan condom wrappers, a splatter of orange soda, cigarette butts. Piles of tobacco, like little ant hills, litter the floors. The burglars had hollowed out cigars and stuffed them with marijuana. Something sinister stains the sink.

Carcary scratches his head and ponders the cleaning bill. "This place was spotless," he groans.

Cold, hard truth

Since the housing market turned south in 2006, Carcary has been in his element. A national study puts the number of problem properties in the Tampa Bay area - mostly "preforeclosures" - at about 18,000.

Typical HomeVestors sellers are housing speculators left holding the bag when the slump took hold, hard-up divorcees, foreclosure targets and owners of junkers who can't afford the repairs.

HomeVestors' head office in Dallas provides most leads via an 800- number plastered on billboards and mailers. Carcary dispatches a "digs and leads" man to scour neighborhoods for likely - and ugly - candidates.

Of the hundreds of leads a month, Carcary will make about 80 offers and get 10 to 15 takers. He usually pays about 50 cents on the dollar - 20 cents or 30 cents for sinkhole homes. He's mostly in the market for homes less than $150,000. They're easier to resell or rent. Dallas provides a line of credit.

When it comes to negotiating with sellers, Carcary's method is to "get into their psyche" and "find their pain factor." If a house can't generate at least $15,000 in profit after rehab, he's not interested.

"People in a bad situation need to hear the hard, cold truth. They don't need the fluff and stuff," he says. "It's actually a business of helping people."

Carcary's staff of 14 includes his wife, Shona, who emigrated to Florida with him in 1997. In a back office, the couple has hung a big white plastic tally board listing properties in play.

His employees keep some finds for themselves. Among the buyers listed on the board is "007." It's Rickard's office nickname. Think James Bond: License to Kill.

Beside the wall board is a gold bell. They clang the ringer when they've made a killer deal.

The bell's been ringing a lot these days.

But not for the Dean family's house in Wesley Chapel.

A day later the Deans respond to HomeVestors' offer. Mary Dean was tempted to take the $165,000. Her husband won't part with the house for less than $240,000.

Carcary, preparing to fly to Dallas to address a HomeVestors conference, isn't rolling over.

"He's one of those guys, I'm telling you. Hard headed," Carcary says. "We'll just see when they get three payments behind. Maybe they'll come to their senses then."

James Thorner can be reached at thorner@sptimes.com or (813) 226- 3313.

Why it's a good time to be a bottom feeder

Sluggish sales and falling prices for Tampa Bay area homes provide a rich environment for investors, like Shaun Carcary, who runs an area HomeVestors franchise. Some numbers:

17,000: Estimated number of troubled properties approaching or engulfed in foreclosure.

2,488: Local home sales in April 2007

4,998: Local home sales in April 2006

36 PERCENT: Share of area home loans that are adjustable rate.

22 PERCENT: Share of home sales to investors in 2006.