Looking for private investors

**lilbilly** · 02-18-2008 10:25 AM

I'm a real estate investor and entrepeneur. I invest in mainly SFR. I buy at huge discounts and sell for profit. I am looking for private money lenders to help fund real estate deals. I pay 14% ROI, and your investment is secured by a mortgage deed of trust (a lien) on the property. I do not borrow more than 65% of the home's value. Much safer than the stock market, and much better return than CD's. My credit history is perfect.

The only thing I require is the ability to make a decision in 24-48 hours and the ability to access funds quickly (2-3 days).

Email me if you are interested. I am in the Chicago area.

smorcy11[at]yahoo[dot]com

**BusinessAdviser** · 02-18-2008 10:48 AM

How has the recent economic change affected you?

**lilbilly** · 02-18-2008 11:05 AM

Originally Posted by jmenq2

How has the recent economic change affected you?

Occasionally it takes longer to sell a home, which is better for the private investor (more interest); but really the biggest change is a huge influx of foreclosed homes and other properties available. This has created a great market for investors who are looking to buy at HUGE discounts. I usually don't pay any more than .50 cents on the dollar, and then I sell them at a discount too to help move them quicker. I leave money on the table for the next guy. The market where I am hasn't seen much of a decline in price, maybe 1-2%, most areas are holding value steady.

**entrepresooner** · 02-19-2008 01:27 AM

Lilbilly, would you mind looking a one of the properties I am considering? I have it formatted in a quick, and easy to read word document. I would really like to hear what you think since you seem to have experience in RE.

**mazin** · 02-19-2008 06:32 AM

Originally Posted by entrepresooner

Lilbilly, would you mind looking a one of the properties I am considering? I have it formatted in a quick, and easy to read word document. I would really like to hear what you think since you seem to have experience in RE.

i need a patner or investor
fr hospital specialised cost 5 millon $ i have only 1million ihope 2 cooprate

**lilbilly** · 02-19-2008 08:48 AM

Originally Posted by entrepresooner

Lilbilly, would you mind looking a one of the properties I am considering? I have it formatted in a quick, and easy to read word document. I would really like to hear what you think since you seem to have experience in RE.

All real estate is local, therefore I won't be able to tell you how long it might take to sell, or whether or not it is a good value for the neighborhood. But, I can look at the numbers if you like.

**entrepresooner** · 02-19-2008 10:28 AM

I would really appreciate it! I don't have it available this second as I am on a university computer but I will pm it to you this afternoon. Thanks a bunch!

**lilbilly** · 02-20-2008 03:04 PM

Still open to any investments and paying 14% ROI, which is better and safer than the DOW and much better rate of return than CD's.

**BusinessAdviser** · 02-20-2008 06:13 PM

Would you also be willing to guarantee the loan personally?

**ltressel** · 02-20-2008 10:31 PM

The lien on the house should be enough. Upon sale of the property the lien assures that the private investor will be paid the monies owed and 14%. A savvy investor should be able to see that there really is 35% left in the value of the house(post renovation). This is based on a 3rd party appraisal. This way if and when something goes sour, the investor has documentation for the claim.

Savvy investors should always be in the know that the work is being done in the house and not just writing checks and be trusting and silent through the process. This can be a good partnership for people who has some money they can invest but don't know much about real estate investing and a seasoned investor who has skill but no money or strong credit.

A transaction like this should be seamless if all parties involved know what they are getting into. Lilbilly, I'm assuming that this house will be bought cash and renovated in cash? What's your exit strategy if the house doesn't sell in the specified amount of time? Will there be a refinancing process as plan B to get the money out and rent the house while it's listed?

This are some things that your investor will want to know. In as much as they have some disposable income, they wouldn't want their money tied up in the house. Selling is the best exit but you have to cover all your bases because we are nearly in the situation comparable to the 90's where houses sat for a long time.

You'll want the money out and move on to the next deal while you are buying some time to sell the house. The fact that you only do 65% out is very smart. Leave some on the table for wiggle room.

This isn't an ambush, I just wanted to help your thread out to imply that real estate deals are great and investing isn't something people should shun from. If the numbers make sense and you can find good investors, why not?

But always always do your due diligence on any investment endeavor. Put your key players involved in the process such as attny, cpa, appraisers and real estate agents. Check each other's track record. You don't want anyone in a middle of a lawsuit or a default.

Check the source of the data for comps-should be able to tell you sold, pending, distances ( I like at least quarter to a mile radius only).

Yapped enough already. Lilbilly, good luck in finding someone. Have you also looked in
creonline.com it's just like reiclub.com?

LT

**lilbilly** · 02-21-2008 11:15 AM

Originally Posted by jmenq2

Would you also be willing to guarantee the loan personally?

Of course. I would sign a promissory note, or whatever contracts the investor would ask. I have no problem putting my name on a dotted line. My credit score is above 700 and I have never had a late payment on anything. The main reason for having an outside private investor is for quicker fundings without the red tape of a Hard Money Lender.

Originally Posted by ltressel

Lilbilly, I'm assuming that this house will be bought cash and renovated in cash? What's your exit strategy if the house doesn't sell in the specified amount of time? Will there be a refinancing process as plan B to get the money out and rent the house while it's listed?

But always always do your due diligence on any investment endeavor. Put your key players involved in the process such as attny, cpa, appraisers and real estate agents.
Have you also looked in creonline.com it's just like reiclub.com?
LT

Yes, the idea is to have an investor who can fund the purchase and renovation (no more than 65&#37

with cash.

My primary plan is to list them for sale. My plan is to have the 3 P's ensure that my houses move quickly.
Product - my properties will simply be a better product. A few upgraded features that make the house pop, and the rest professionally done to look top notch.
Price- By buying at the right price, I ensure that I have enough room to list the home for below what the other comparable properties are listed for. That combined with the fact that my property is nicer, will help immensely.
Presentation- Professional flyers about the home and STAGING the house will make it feel inviting to the potential buyers.

My alternate exit strategy if the primary falls through is to Lease Option/ Rent to Own the home to someone with less than perfect credit, but has money down. This may actually be just as good as the first plan, as it will drive interest and bring a quicker transaction. I am also an experienced mortgage broker, so I can look at someone's credit and know whether or not if they will be able to purchase the home in 6-12 months with credit work. I also have a phenomenal credit repair lady who can do wonders, so that will not be a problem.

And with a lease option, I would definitely refinance the home into a better loan so I can pay back my investor and get a lower payment.

As far as team members, being a mortgage broker - I know several appraisers very well, and I have a few realtor friends too.

I had not heard of that site, but I will check it out, thanks.

Thanks for the replies guys.

**lilbilly** · 03-26-2008 01:14 PM

My search has been an adventerous one for sure. I've had 2 likely scammers contact me to provide me funding. One from Saudi Arabia who said that I would need to meet him in London to do the bank transfer, and another from Holland who called me on my cell phone and said just to call him when I need money and tell him how much.

Still working and looking for some legitimate sources...I pay up to 14% ROI, and your interest income would be tax free if you invest through your Roth IRA.

**reggidavi** · 03-26-2008 02:13 PM

HI Lilbilly would you consider property that is located in the Carolinas as a possible investment situation

**lilbilly** · 03-26-2008 02:47 PM

Originally Posted by reggidavi

HI Lilbilly would you consider property that is located in the Carolinas as a possible investment situation

Possibly, but the deal would have to be all the more sweet since it is not where I am locally. Also, realize that I do not buy unless it is at HUGE discounts.

Feel free to email me if you have a scenario - nwiInvestments@gmail.com

**mazin** · 03-27-2008 04:19 AM

[QUOTE=mazin;167795]i need a patner or investor
fr hospital specialised cost 5 millon $ i have only 1million ihope 2 coopratewith others to continue our project as we intersted with medical tourism