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  1. #1
    Member Reputation points: 723 CHAMP3's Avatar
    Join Date
    Sep 2014
    Location
    El Dorado Hills
    Posts
    94

    Recent Transaction - $18MM land purchase

    My private investors and I have completed a $18mm land purchase. Purchaser came with zero out of pocket while providing a 50/50 equity play for investor. The appraised land value is upwards of $60MM. If anyone has commercial property deals and needs help getting the financing secured. PM me for information.

    Chris Wilcox
    916.400.9001 Ext.103
    888.535.8499 (Fax)
    cwilcox@premierbusinesslending.com
    www.premierbusinesslending.com

  2. #2
    Senior Member Reputation points: 34509 Jstarr's Avatar
    Join Date
    Nov 2014
    Location
    South Florida
    Posts
    838

    HORRIBLE Advice, The chances of foreclosure on average are 65% or greater on deals with 100% financing - as a lender, i cringe when i see brokers mis-leading borrowers just to make a commission - you could also be held liable on a situation like this if it ever went to foreclosure since you are acting as the " Counselor "

    On the other hand, im guessing that you dont understand mortgages very well, if you did, you would know that financing for the down payment would technically be a second position, so if i were to take this offer from your " Investors" i would purposely let it go into foreclosure and at the auction, purchase it back for 70% LTV, and the second position lender wouldn't get anything. they could file a civil case against me personally, but i would purchase it in a blind trust or multi-member llc and they could only place a lien ...... this is just a scenario, so unless you are a lender and understand the ramifications of such risk, you shouldn't be offering advice about this. the other detail you failed to mention is carrying costs, maintenance, insurance, appreciation and or depreciation, capital gains, taxes etc.

    Again - HORRIBLE ADVICE

    If you dont have skin in the game, dont do it..
    Last edited by Jstarr; 11-27-2019 at 01:39 PM.
    Jerry Starr
    Insource Funding
    433 Plaza Real, Ste 275 Boca Raton, Fl 33432
    P: 800-805-3391 Fx: 561-270-6895
    Jerry@insourcefunding.net | insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

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