4-Plex Financing

[Randy (SELA)]

I am shopping for financing for a 4-plex. Purchase price $80-90k, rehab costs $20-30k, ARV $165-175k. Prefer 30yr. I am an "A" borrower. What terms should I expect? Ballpark figures are ok, I just haven't financed anything since the credit crunch and am curious as to what's out there now.

[Jim Johnson]

I am shopping for financing for a 4-plex. Purchase price $80-90k, rehab costs $20-30k, ARV $165-175k. Prefer 30yr. I am an "A" borrower. What terms should I expect? Ballpark figures are ok, I just haven't financed anything since the credit crunch and am curious as to what's out there now.

call Tom Larkin at 303-920-1052
He has done loans for others on this site and gets things done.

[Debbie]

call Tom Larkin at 303-920-1052
He has done loans for others on this site and gets things done.

I'm Tom's client and have been happy with Tom.

[Randy (SELA)]

Thanks for the responses. Where is he located and what kind of turnaround time can I expect?

[Jim Johnson]

Thanks for the responses. Where is he located and what kind of turnaround time can I expect?
Tom is located in Colorado and he gets things done as quick as you get him the info he needs. He is a honest, hard worker.

[AIR]

can he do loans anywhere?

[Debbie]

can he do loans anywhere?

Yep! Give Tom a call! Tell Tom Debbie and Jeff from Spfld, Il said hi!

[Carlos]

Hola Amigos,

Long time no write, In regards to rehab loans I was just getting ready to schedule a colsing date on two deals for rehabing, and got cut short as of Friday.

So if you are doing these today I highly encourage you to "Get Er Done!!!!", quickly the rehab loan dudes where/are out Houston, don't want to mention any names I would hate to get legal action taken or thrown at me,

I quickly ran to the safety net, and scrambled for some alternatives, and what do you know Jum Johnson to the rescue, Thanks

I contacted Tom Larkin as Jim suggests and at leats he gave me hope, understand that the rehab loaner list is getting smaller by the minute. It turns out he and I have alot in common he even used to live near my current home. Awesome,

In case you guys are interested i have came across an ole gal whom has over 30 house for sale and is trying to liquidate, they are all little beat down homw that require work.

My two working deals;

#1 $25,500 purchase, rehab 20K Sell for $69-72500

#2 $31500 purchase, rehab 18K sell for $70-75K

yes not major deals to you but enough for me little ole guy in San Antonio, TX,

P.s.. if you think my numbers aren't worth the effort please advise, I truely respect and honor what you all have to say.

Will adivse if I/we find another rehab lender, :SM106:


Carlos

[Randy (SELA)]

Hey Carlos,
You're talkin my kind of numbers. Keep on truckin'!

[Carlos]

Thanks and Hello Randy,

If the Re hab finance (dried up) don't work I will have too resort to using my own cash, bummer, I currently have them under contract. The good news is the ole gal is willing to owner fiancé with 10% down fortunately it's doable.

Stay tuned,

Carlos

p.s. not sure if you guys remember those flaky dudes trying to too sell us over priced homes and cashing out on your equity and leaving you hanging. Well greats news there are under federal investigation by the FBI.

[Debbie]

p.s. not sure if you guys remember those flaky dudes trying to too sell us over priced homes and cashing out on your equity and leaving you hanging. Well greats news there are under federal investigation by the FBI.

I vaguely recall it. Refresh MB Fambly members' memories on that, please. I think it's worth repeating....

[Carlos]

Hello Debbie,

Here is some historical data I found on MB web site, it was Josh phising for targets,

620 FICO gets you no out of pocket and 25K at close

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Would you like to buy a new home or maybe an invest in property with nothing out of your pocket and cash a check for 25k at closing! All you need is a FICO of at least 620. We have a list of gorgeous homes that you can choose from and its possible to close and receive your check in as little as two weeks. Lets get the deal done!

Josh

Don't know if you recall this now but I had spoken about this with Jim, needless to say if it smell like a turb it probaably is,


josh, clareance and gang are all running for the Hills, not sure if anything will actually happen to then and don't care only that they are being investigated makes me happy, as always it takes the law man tooooo long to ingage never the less they have.

[Debbie]

Ah.....I was thinking of the wrong one. I'm glad I asked for memory refresher!

Thanx Carlos!