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    4 Replies Latest reply on Mar 3, 2009 8:43 AM by rgershenuk

    Rental Homes

    Conservative1 Newbie
      I've been a real estate investor and landlord for many years. I own several rentals and have mortgages on four of them. Due to the constipated banking system investors like myself can have just four Fannie Mae or Freddie loans at once. Due to this limit in January alone I have passed on over 100,000 in equity on homes I might have acquired and rented....I am also a REALTOR and can always sell them to another investor or I can use a hard money lender who would gobble up half of my profits....but what I really want is to buy and hold. I know my market and am very selective. I don't try to force a deal by making something happen thats not really there. I always make a profit and even when I flip home I net more than $20,000. Flipping is easy. There are plenty of lenders willing to offer me an 1 year ARM product with 6-8% start rate with caps of 2 and 6 or worse. Whoopee Do. What I really want is to buy and hold....which means I need a fixed rate, 30 year amort, 10 year minimum term. Is there any common sense lenders left out there that would make a loan like this. Purchase price 80-120.
        • Re: Rental Homes
          LUCKIEST Guide
          Rental Homes, Welcome

          WHO ARE YOU?? Where are you?? Do you have email?? Phone number??

          Tell me more about you. Where do I mail the check??

          LUCKIEST

            • Re: Rental Homes
              LUCKIEST Guide
              Rental Homes

              Also do you have a Business and Marketing Plan that I can read??

              Prior year tax returns that I can see??

              Then we can talk about investing.

              Again, LUCKIEST
                • Re: Rental Homes
                  Conservative1 Newbie

                  Sorry....foolish of me not to include my name and contact info.

                  Good news is Fannie and Freddi may have just increased max investor loans to 10. Whahoo!
                  I bid on a home yesterday again....for the fifth time. REO...not a home run but an easy flip. I would just Home Equity Line it since its under my HELOC limit of 119,000. Keeping fingers, legs and eyes crossed they accept it.

                  What do you have to offer, can always use good sources.

                  I've been REALTOR for 22 years, Landlord for 16 and doing at least 1 flip per year for 7 years. Tax returns are available. If we get serious.

                   

                  Tom & Theresa Molina ABR, CRS
                  SpousesSellingHouses@columbus.rr.com
                  http://www.molinahometeam.com/
                  614-777-7653 Direct
                  800-713-5844 Toll Free
                  614-314-4224 Cell
                  RE/MAX Achievers
                  REALTOR-Consultants
                  RE/MAX HALL OF FAME
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              • Re: Rental Homes
                rgershenuk Newbie
                Good day,

                I have just seen your post showing that you are interested in a financier to raise funds for the development of your project. I wish to know if the opportunity is still open as I will be interested in providing the funds needed.
                Do contact me through any of my contact information.

                Regards,
                Roland gershen
                E: rgershen@london.com
                T: +44 703 595 6480