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05-23-2017, 09:27 PM #1
Hard Money | Our Money
********** Im offering 9% IO With monthly payments until the end of the month, I'll even entertain a NINJA Loan Scenario, I know several Acct Execs that want to chime in here, and Ill entertain your banter once you can personally write a check to fund the deals that WE fund...
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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05-23-2017, 09:54 PM #2
- Join Date
- Mar 2016
- Posts
- 124
9% interest rate , Interest Only monthly payment
Mike Lewis
http://michaellewisgroup.com/commerc...an-matrix.html
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05-23-2017, 10:39 PM #3
- Join Date
- Apr 2014
- Posts
- 781
Mike lewis...that website is awful looking.
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05-24-2017, 01:08 PM #4
- Join Date
- Mar 2016
- Posts
- 124
That's just the loan matrix - the site is at http://michaellewisgroup.com/
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05-24-2017, 09:29 AM #5
- Join Date
- Feb 2017
- Location
- Fort Washington, PA
- Posts
- 37
I can match that offer starting at 9% Interest only, 1 year term, stated income, no mininum FICO (no more than 2 mortgage lates in 12 months, bankruptcies must be discharged, must own primary) loans for purchase or refi, minimum loan amount of $75k on a non-owner occ property. With the Appraisal fee waived until May 31st, 2017. Shoot me a pm or call 215-619-2543 or email Scott at sbuchholz@velocitymortgage.com . I'll send you our broker toolkit to pay you direct and you can Table Fund with us, too.
Scott Buchholz
Account Executive
Velocity Mortgage Capital
215.619.2543 Direct
sbuchholz@velocitymortgage.com
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05-24-2017, 03:51 PM #6
- Join Date
- Apr 2014
- Posts
- 781
Scott's post makes sense the others...
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05-24-2017, 04:25 PM #7
Sorry Golf, Let me explain it in terms you would understand,
If someone comes to us with Real Estate and they would like to borrow monies against it, we would offer an interest rate of 9% And no pre payment penalty so if they want to pay it off in 10 days, they can do so without penalty. if you cant understand the remaining part of the email then .......Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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05-25-2017, 01:21 AM #8
- Join Date
- Mar 2017
- Posts
- 13
Hard money
Hello are able to do hard money refinances in other states such as california?Do you pay broker commission if refer u a deal?
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05-24-2017, 04:54 PM #9
- Join Date
- Apr 2014
- Posts
- 781
R you a direct lender j Starr or a broker for many lenders ?? 9 percent is contingent on ?? Connect the dots...which you wont
Last edited by golf2014; 05-24-2017 at 05:14 PM.
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05-24-2017, 10:37 PM #10
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
Last edited by Cfairbank; 05-25-2017 at 06:14 AM.
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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05-24-2017, 10:10 PM #11
Look golf, im not sure what you motive is here - Not only are we a direct lender, we also have in house legal and title and offer what i mentioned above with one contingency - it has to be a min of $200,000 and we'll close within 10 days.
This is all we require to make an offer with same day approval.
Application - Basic information, We only look at credit to make sure no Bk, child support issues, judgments etc.. and if they have open issues, we typically take care of them at closing from the proceeds if the numbers work out.
Address of property -Is it a SFR or Commercial, in some cases on commercial we require a phase1 enviro.
Valuation - and how did they come to this.
Customer expectations, $$Last edited by Jstarr; 05-24-2017 at 10:13 PM.
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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05-24-2017, 11:51 PM #12
- Join Date
- Apr 2014
- Posts
- 781
Jerry..9 percent is a monthly payment?? When does that rate bump up after ?? How many points do you charge at closing ?
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05-25-2017, 09:42 AM #13
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05-25-2017, 09:59 AM #14
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Golf and Carl, Whether Jerry is a lender or merely someone that works closely with folks that put money out there is immaterial. If a lender is charging 9% (or .75% per month), he is likely up charging the points to get to his desired APR.
Also applies to the area and the type of Real Estate. The rate and LTV for a Brooklyn NY project will be altogether different than a strip mall in Osh Kosh Wisconsin near Bob's Big Boy Restaurant.
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05-25-2017, 10:18 AM #15
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
partially agree, but I personally know of several funds and companies that offer similar products to this -- take revere capital, their levered fund backed by real estate can do 7%. I don't know if Jerry is a broker or not, my point is that a low rate shouldn't de-legitimize the product. Folks get too caught on cash advance rates to realize you actually can lever a portfolio (with large deal sizes) and make great returns at even 9% + closing costs.
Last edited by Cfairbank; 05-25-2017 at 11:29 AM. Reason: correction! *should to *shouldn't
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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05-25-2017, 11:27 AM #16
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05-25-2017, 11:28 AM #17
- Join Date
- Apr 2014
- Location
- Washington DC
- Posts
- 421
Carl Fairbank
Founder & CEO boldMODE
www.boldmode.com
Carl@boldmode.com
Founder & former CEO of Breakout Capital (sold to SecurCapital in 2019)
www.breakoutfinance.com
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05-25-2017, 12:51 PM #18
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05-25-2017, 10:47 AM #19
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Agreed Sir
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05-25-2017, 07:22 PM #20
- Join Date
- Apr 2014
- Posts
- 781
Why is Scott bucholtz posting 9 percent with further info and Jerry isnt. Scott is direct n jerry ....
Last edited by golf2014; 05-25-2017 at 09:40 PM.
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05-25-2017, 09:49 PM #21
- Join Date
- Apr 2014
- Posts
- 781
Mike Lewis broker..lots of deceit going on...there are great brokers on this message board such as Richard gerard. But you have people posting 9 percent like it's his decision..OK do 9 percent hard money on a gas station. Guess what..6 direct guys said no n 9 percent isn't gonna happen.
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05-25-2017, 10:01 PM #22
- Join Date
- Dec 2015
- Location
- Texas
- Posts
- 552
Why don't u post ur contact info!?
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05-27-2017, 09:57 AM #23
Davinci, im not directing this at you because i know you - But most legitimate people on the funder do have contact info / signatures , need i say more........ its so easy to hide behind a BS Screen Name.
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
-
05-27-2017, 11:01 PM #24
- Join Date
- May 2017
- Posts
- 350
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05-25-2017, 10:37 PM #25
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