I’m a California Real Estate Agent/Investor.My real estate office has an established relationship with Lender Clearing House that offers custom bulk Bank-Owned Real Estate (REO) portfolios ranging from $2 million and higher. I would like to purchase properties at 50% or better (3% purchase fees + 3% closing costs + 44% property value) on Single Family Residences (SFR). Most hard money lenders only handle 1 property at a time. I have found 1 lender wanting 10% down = $200K, but that’s entirely too heavy to lift by myself.
A $2M portfolio is roughly 8-14 properties in the San Fernando Valley. I need help locating a reputable lender that is willing to fund on the structure of the deal, all property will be immediately resold at 90% (est.). Can anyone help me?
frankfihn
April 22, 2010 at 7:40 pm
Ha let me tell you as someone who has spent months looking for one, it can feel like a unicorn. I’ve found two that will do it. Email me at frankfihn at gmail dot com and if I send you a lender to do it, I’ll expect a small referral fee.