Loans and Process
We help investors by showing the "rehab to rental" approach to buildng a portfolio.
Basic options for financing long term.
1. Conventional mortgage - (fannie -Freddy - govt insured) loans.
15% down min
limit to 10 properties (after the criteria goes up to 720 credit and 6 months cash reserve)
property must be in average or better condition
not for short term or rehab property
2. Portfolio Lending
small banks and credit unions - criteria is deal by deal
credit and income still a factor but judged on global cash flow of borrower and property
best for investors - can be blanketed , can be for property that needs work
limitations are credit and still takes 30 days + to close
3. Private long term loans (hedge funds - insurance companies)
flexible on credit
non recourse available
will fund to llc
heavier emphasis on propety
not fast - 30 days plus
**Bkanket loans available (fund 5 - 10 - 20 or more ) at market rate (sub 7%) , criteria is on property , a "stated income" loan type for investors
4. Private - short term - hard money
will loan for repairs
best when speed is needed
best when flip is the goal
use to acquire then convert one of the long term options
4. *****NON RECOURSE LOANS TO SELF DIRECTED IRA ACCOUNTS (PURCHASE PROPERTY IN YOUR IRA OR INVEST IN OUR LOANS WITH YOUR IRA)
We review your hard money loan scenario from start to finish and take every measure to make sure our borrowers enter into a profitable deal. We can be creative and discuss methods of acquiring property using other collateral, longer loan terms and more.
Texas hard money/private loans for investors are funded with our own capital and private individuals & small private shops with which we have relationships and partnerships.We have personally invested many of our loans and investments as well. We are fast.
We are investors ourselves and understand the needs of the investor as well as the lender. We provide a conduit to many private investors willing to fund your acquisition and repair of investment real estate in Texas.
Ask us how to use these simple transactions in building a rental portfolio with little down. We call it rehab-to-rental. We simply convert the short term hard money loan to a permanent mortgage. *************Dont forget about your long term financing needs for investment property. We have a conventional mortgage branch for bank-low rate needs.
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