Before I sit down with some investors I know, I want to make sure what I was planning on offering is good. Please let me know if you think it’s too high, not enough, or just right. Thanks in advance.
Need: Loans of 140-160% of current market value or 60-70% of ARV
Will Pay: 10 year interest only @ 12% with balloon
Looking at rental properties (3-4 Family) with caps @ 15-20%
I’ve been able to line up 4-5 deals that meet these specs but don’t want to put contracts together until I have funding.
I am still able to walk away with $500-750/month after anticipated repairs & vacancies, insurance, taxes, & so forth.
I personally think private money investors would jump @ this, especially if I can produce multiple deals like this, but at the same time, I don’t want to shoot myself in the foot when I don’t NEED to hand out that much money when I don’t have to. Or, put contracts together for a deal that I won’t be able to find funding for.