Financing REO projects in 2012

By
Real Estate Mortgage Broker with LX Financial LLC

We are still faced with the best real estate opportunities of a lifetime - and amazingly there are even getting better! As sad as it is to say, the economic malaise continues to serve us very well.

 

FOCUS ON RENTAL VIABILITY 

Because resale markets remained weak (and rental markets strong) during 2011, we started assisting developers with refinances to convert rehabbed properties to rental properties rather than wait for the re-sale. This way we were paid back, and developers could cash out and move on to the next project. Long-term rental viability is therefore now more important than resale value - which is why we prefer 2,3,4-family properties.

 

 

INVESTMENT CRITERIA

As of now our investment criteria are as follows:

  • 1-4 family properties only. (2,3,4-family preferred)
  • Preferred investment size: $20K-$100K ($200K max)
  • NJ, NY only
  • ARV (After Repair Value) of at least 150% of total hard cost
  • Cross-collaterization on other properties considered.

 

INFORMATION

For investment information go to www.lxfinancial.com

Go here for construction/rehab loan information

To request a quick quote for a project go to www.fixflipnow.com

 

 

My best wishes to you for 2012. May it be a fulfilling and prosperous year!

We're open for business :)

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Topic:
ActiveRain Community
Location:
New Jersey Essex County
Tags:
reo
flip
flip financing
reo financing
fix and flip
rehab financing
loan
short sale

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Rainmaker
133,487
Marcia Kramarz
CDPE,LMC,CBR
Re/Max Executive Realty

Does seem like there is a shift to rentals - from a number of different segments of the market - 

January 05, 2012 08:58 PM
Anonymous
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Rainmaker
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Paul Luykx

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