We research and locate discounted single family homes. There are several markets within the US where habitable homes can be purchased at or below $30,000. In most cases, the homes need some work. Sometimes the flooring need work, bathroom needs update and or minor roof repairs are required etc.
We underwrite the properties we locate. This means, we analyze the property and use data to ensure it meets our criteria. One reason why these home are available is because these homes are not eligible for regular financing. The only way to purchase these homes is via cash. This is where our private lenders come in.
Once the property has been purchased, we really do not do any repairs on the properties. We begin marketing these property for sale on "as-is' basis. The key is that our buyers don't have to qualify for a bank loan or credit checks. We take a small down payment and finance these homes on a 30-year mortgage.
Example of Recent Projects Completed by Our Team/Members. In each case a private lender helped complete the transaction and is enjoying a double digit passive income on a 5-year note secured bythese types of homes.
Use the email in our contact page to submit your request for a meeting or to become a lender directly. This will start the process. Once approved, you will be an active private lender in our system.
As we put properties under contract, they are shared with our approved list of private lenders. The deal package includes a lot of information that will help you assess the property.
Once you commit to a deal, your interest is locked in and the deal is removed from available status for other private lenders. Title work begins and a closing date is set. Your details will be provided to the title company so legal documents can be drawn per lending agreement.
We will keep you informed regarding the expected closing date. At this point, the title company will provide you wiring instructions for the funds. Note, the funds never come to us, they are sent directly to the title company. The title company keeps the funds in escrow until all legal documents are completed and signed.
Once the deal closes, you'll receive all legal documents relating to the property. These include title insurance policy, promissory note for the loan, deed of trust with you in 1st lien position, property insurance policy with you as the additional insured.
Once the property closes and is funded, you will begin receiving your monthly payments based on the schedule from the promissory note. These payments will continue for 5 years (60 payments). At the end of the 5-year term, the loan is paid off fully.
This is how the front of the property looked like when it was financed to the rehabber. This is an example of a property that banks no longer want to finance. Rehabbers don't want to take a risk on and landlords can't rent them...
The property needed major remodel but no one wanted to do it as financing for this type of property does not exist. This is where we come in. This is how we improve the neighborhood and help homeowners and tradespeople.
This is how it looks like today from the front! This property was seller financed to a rehabber at affordable terms allowing him to remodel the entire home.
Not only does this property now improve the neighborhood, it helped the rehabber proudly complete an amazing remodeled project.
A Self-Directed IRA LLC is commonly referred to as a Checkbook IRA, Real Estate IRA or a Self-Directed IRA with Checkbook Control. A Self-Directed IRA LLC is a powerful and flexible retirement platform that allows for full diversification of investments and puts the IRA account holder in full control of all investment activities.
The Self-Directed IRA LLC involves the establishment of a specially designed limited liability company that is owned by the IRA and managed by you or anythird-party. As manager of the IRA LLC, you will have control over the IRA assets to make traditional as well as non-traditional investments, such as real estate,by simply writing a check.
We can help you connect with a reputable custodian company that will help you set up your own self-directed IRA account. You can then fund your real estate investments with us using that SDIRA account.