Clay Sparkman
We are running several new promotions, primarily aimed at real estate investors, to really get costs down on financing and thus open up the possibility for more profitable deals. Last week I put up a blog post about a 12% and 2 point offering.
This week I’m putting up an alternative offer: 7% and 7 points.
As a private money rehab and property investment lender, we are able to provide a variety of creative solutions that are just not available via more conventional sources. If the parameters and circumstances are right, we are also able to overlook a number of issues that might be problematic with more structured lenders. Small to medium rehab loans are one of our sweet spots, and we are geared up to make as many as we can this season.
We are offering a significant cut in the cost of our premium loans. Our regular charge for a 12 month construction loan is 5 points and 10-12%–the rate dependent on the particulars of the loan.
Starting immediately, and for a period of six weeks, We are offering (via brokers and direct to borrowers directly) one year rehab, construction loans, and investment property loans on of up to 60% LTV, priced at 7 points and 7%. (We will even consider a longer term, up to 2 years, if the circumstances warrant it.) Also note that we charge no prepayment penalty.
The conditions are as follows of this promotion are as follows
(1) You must register with FFS by sending an e-mail to clay@privatemoneysource.com with “PROMO-SEVEN-AND-SEVEN” in the subject line and your name, company name, and phone number in the body of the e-mail, no later than 6/30/16.
(2) You must submit a summary of your loan no later than 7/7/16, and FFS must approve the summary.
(3) You must submit a complete loan packet, as required by FFS, no later than 7/14/14, for the same loan for which you submitted a summary in June.
(4) The minimum loan size for this promotion is $150,000.
(5) The loan must close no later than 7/29/16 .
Check out our website for details re our loan criteria, our packaging guidelines, and our process.
www.privatemoneysource.com
I encourage you to sign up and give it a try. The real estate market is up and rising, and we are just now entering a new fix and flip season.
All the best in your endeavors, Clay
– Clay (clay@privatemoneysource.com, 503-476-2909)
Clay is Vice President of Fairfield Financial, a primary source for private money since 1964. Fairfield is currently targeting loans in OR, WA, AK, CA, CO, ID, FL, GA, ID, MT, NV, NY, OK and TX. To submit a loan to Fairfield for consideration: http://www.privatemoneysource.com/loanproposal.php
Tags: auction buying, California, commercial lenders, Commercial loans, construction loans, hard money borrowing, hard money brokering, hard money loans, Idaho, Las Vegas, Montana, Multifamily, Nevada, New York, Oregon, private money borrowing, private money brokering, private money loans, Quick flip loans, real estate investing, real estate rental, rehab loans, REO funding, Short sales, Washington
