example; borrow money to a real estate investor who knows the numbers and can show proof that it works also offers 2-20% return on investments.
2007-01-05 09:13:49 · 6 answers · asked by investor 2 in Business & Finance ➔ Renting & Real Estate
Not anyone you would want to do business with. Loan sharks will loan to almost anyone.
The way you phrased your question displays a lack of education that will turn off almost any investor. If you have no job to earn money, how are you planning to pay back the loan if your "knowledge" turns out to be faulty? This is information for which any lending agency or private person, for that matter, will be looking.
2007-01-05 09:20:49 · answer #1 · answered by grandma's spirit 3 · 2⤊ 0⤋
Yes. I had one such lender email me a while back. They do 70% LTV, no credit check, no income verification, no questions. They do a six month loan, amortized for 30 yrs at 18% interest. Interest only payments for those six months, so all you end up paying is 9% to borrow the money.
This lender OWNS alot of the houses they lent on. Lots of "investors" don't end up being able to flip the house in six months and end up getting foreclosed on when the ballon note comes due.
But they will lend on "knowledge".
2007-01-05 13:25:38 · answer #2 · answered by teran_realtor 7 · 0⤊ 1⤋
Well I guess if you had a incredible credit score you could get No Documentation financing. I'm not sure what knowlede means tho!
2007-01-05 09:18:10 · answer #3 · answered by camrenalexis2 2 · 0⤊ 1⤋
I doubt it. The statement itself contradicts itself. Anyone who gets 20% on all of their deals would have good credit AND plenty of money.
2007-01-05 11:01:26 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Not a chance. Lenders don't invest in dreams, they invest in business. "'Cause I'm smart" isn't collateral!!
2007-01-05 09:22:03 · answer #5 · answered by wildraft1 6 · 3⤊ 0⤋
Yah
I will invest in TX RE.
email me and I'll check it .
2007-01-05 13:30:10 · answer #6 · answered by Mico 1 · 0⤊ 1⤋