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    2 Replies Latest reply on Jun 23, 2010 8:52 AM by LUCKIEST

    need real estate funding for project

    hope1950 Newbie
      how do I get help with real estate funding for project my new company is wanting to do..Company in incorporated..and in need of funds to purchase forclosure homes for resale to couples as lease purchase for 1 year and then finance.
        • Re: need real estate funding for project
          Mailman1 Adventurer
          I spent 11 years in the residential mortgage biz before the market forced me out. Because you want to purchase residential real estate under a corporation, you will not be able to get conventional financing. There are commercial options out there but they will all require substantial skin in the game. Typically the terms will require a 30% down payment. There is a lot of private and hard money out there. Rates are pretty high (9-12% is common) but since you would only be holding the properties for a year or two the rates won't matter too much.

          There are a lot of firms out there doing the same thing and making a lot of money. However, your company will need the capital in place for downpayments and probably renovations.
          • Re: need real estate funding for project
            LUCKIEST Guide
            Need real estate funding

            Who r u?? Do you have a business plan??
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