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11-14-2019, 01:49 PM #1
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
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11-26-2019, 10:16 AM #2
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,
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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