OfflineI am looking to buy a home and rent it out and I need some private money with an affordable rate to make it happen. if you are a lender or know where I can find them- please let me know- thanks!
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Looking for Private Lenders for NJ
Posted on: Fri, 10/21/2011 - 14:10
Check into SJREI...I have made a lot of good contacts networking with the different sub groups... if you are in the north you have groups up there...
Barbara
Kim please pm me with the details. Tammy
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
Has anyone heard of or got involved with a company called Ameraco? www.finditandfundit.com There is a fee to join but they claim they have all the private money you could possibly need.
Has anyone else come across them?
I am looking for PML's in Wisconsin. Does anyone know of any? Thanks for looking, and Happy New Year to everybody!
You should not have to pay up front to obtain private funding. Be careful going out confidential information, because you may just lose out on the back end. Happy investing. God Bless.
Sandra
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Description:
Funding for 1 - 4 family properties. Willing to pay 6% - 8% straight interest per year. Typical goal for project turnaround is 90day's.
Primary area of interest - Morris County NJ
Stable market-Short market times.
Some properties may be kept as income property.
In that case, a typical offering could be structured as follows.
Example: 24 month yield about $25,000.
Principal borrowed: $200,000.00
Regular Payment amount: $1,199.10
Final Balloon Payment: $195,911.18
Interest-only payment: $1,000.00
*Total Repaid: $224,689.58
*Total Interest Paid: $24,689.58
Annual Payments: 12
Total Payments: 25 (2.08 years)
Annual interest rate: 6 .00%
Periodic interest rate: 0 .5000%
*Total interest paid as a
percentage of Principal: 12 .345%
*These results are estimates which do not account for accumulated error of payments being rounded to the nearest cent.