Hard money deals getting funded

Just recently we all had a little debate over how to lend and to whom…I have 3 different deals that my attorney and paralegal are in the due dilligence process of before I fund them…

First deal is a 10 family in Florida worth 600k with an annual rent roll of 90k a year…Owned free and clear…Loan is 300k…Deed in lieu…Prepaid interest and points off the top…All closing costs and legal fees paid by borrower…1 year loan…

Second deal is a RE investor buying a foreclosure…Buy price 75k…Investor putting in 30k of his own money …Loan is 45k for 1 year…Home is worth in the area of 135k-150k…Deed in Lieu…Prepaid interest and points off the top…1 year loan

Third deal…NOO…Refi cashout…Owned free and clear…House worth 225k…Loan is 75k…1 year loan…Prepaid interest and points off the top…Deed in lieu…

All 3 of these loans * I * feel are very low risk high reward loans…In the event of a default the borrower loses…This in my opinion is the way the lending process should have been structured all along…Lending to someone with no money invested imho is suicide in todays day and age…

All loans are first position only…

I agree with you rookie, and I wish more lenders shared the same logic that you do! how much do you charge for points and interest off the top? also, could you shoot me a PM letting me know what areas of the country that you lend in?

hello rookie,
can you also send me some info i might have something here for you
thank you

you can private message me here…

Florida deal sounds odd, being I am from here… Where in Florida??? 90K on a 600K property…sounds to good to be true. Also Florida can kill you in taxes and insurance plus tons of vacancies. We are now losing people from gaining and very high unemployement. If in a undesirable area, bad investment.

The 10 family was in a nice area of Sarasota and the borrower backed out of the deal…I only fund in nice areas of Florida…ty for the advice though

what is your min loan amount and credit requirement

i live in rockford il there are many deals to take advantage of i am looking for a lending source out here