Kansas City Real Estate Investing

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Latest Activity: May 19

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Kim Tucker Comment by Kim Tucker on May 19, 2009 at 1:15pm
Has anyone tried www.RehabFunding.com need feedback on them.
Kim Tucker Comment by Kim Tucker on May 19, 2009 at 10:05am
Have you checked out www.gobignetwork.com, anyone had any luck with them. Kim
Kim Tucker Comment by Kim Tucker on February 13, 2009 at 12:41pm
Don't for get all the great lenders on this web site - go to the members page and search for lender, loan officer, mortgage or other lending term and you will find several who may be able to assist you.
Kim Tucker Comment by Kim Tucker on February 13, 2009 at 12:40pm
This guy called last night - I think he lends nationwide, but as many of the hardmoney lenders I talk with don't work in KS, he says he does - I also think he brokers for other lenders, not the lender himself.

Kim,

Thanks for taking the time to speak with me this evening.

I am a hard money mortgage broker and also broker
commercial and residential loans.

I work with regional lenders who fund projects in Kansas.

Here are the standard loan terms:

Up to 65% after completed value
12 - 16% interest
4 - 7 points
6 - 12 month term
No pre payment penalty.

They will want credit pulled, at least one year tax return,
comps and an appraisal, rehab plan and licenses of
contractors.

Please contact me for additional information.

Joel Soforenko
Continental Finance Service
799 Sumner Avenue
Springfield, MA 01108
Tel 413-746-3100
Fax 775-251-7977
Eml jfsjd@comcast.net
Kim Tucker Comment by Kim Tucker on February 3, 2009 at 1:22pm
Jason Palliser who spoke at MAREI a few months ago is also offering investor loans, www.jasonpalliser.com
Kim Tucker Comment by Kim Tucker on February 3, 2009 at 1:21pm
Also be sure to check out the lenders on this messag board. Many are local lenders who do a great job and have been working with area investors and borrowers for years.
Kim Tucker Comment by Kim Tucker on February 3, 2009 at 1:21pm
I had a call today from Ben Carmona in St Louis - he sent me an email with some things he might be able to offer. You might give him a call to see what he can do for you:

It's been a tough market everywhere, not just Kansas City. I'm over in St. Louis and have been working this market as well as several across the US, including KC. We spoke several months back and you were networking with Jason so I just let things be as I thought he'd have some sources for you.

I do have several contacts for rehab lenders and local banks in KC that are doing investment loans still. Two will work with out of state buyers.

New investors should be fine with using standard conventional financing. If they have over 4 financed properties then they'll need to go commercial. Part of my services for experienced investors is helping them get out of the residential qualifications mindset. I coach them on debt service calculation, cap rate, executive summaries, personal financial statements...etc. All the info that a banker will be needing from them. Since the sources which I will set them up with require relationship banking we want them to have a great first impression.

Feel free to pass along my contact info. Even better, would be for you to ask them if they mind getting a call from me and you can send their contact info.

Have a great week.

Ben Carmona
314-914-6052 c
866-226-6309 f
Kim Tucker Comment by Kim Tucker on January 26, 2009 at 3:03pm
Having Trouble Getting a Loan?
Have too many properties?
Credit Score a little low?
Need additional liquidity?
Have a nice stock portfolio?

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Real Estate Investors

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* Conventional and private financing is scarce

By utilizing a HedgeLoan®, real estate investors have the best of both worlds. Instead of liquidating stocks, they are able to hedge (borrow) up to 85% of their stock portfolio with a non-recourse loan for the purpose of acquiring real estate. If the stocks go up they participate in the upside and if the stocks go down they can simply walk away.

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Too Many Financed Properties?
Scenario:
An investor wants to purchase a duplex investment property for $260,000 but currently has too many financed properties reporting to credit. Due to recent Fannie Mae guideline changes he is unable to obtain conventional financing but owns $400,000 in stocks.

Solution:
The investor secures a HedgeLoan® for $260,000 and pays cash for the property. The loan is non-recourse so if their stocks go down they can walk away, and still own the real estate free and clear. Since the investor maintains beneficial ownership of the stocks, they participate in the upside should the stock value increase.

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Bulk REO Purchases
Scenario:
An investor is interested in purchasing a bulk REO package and needs financing. The package price is $1,000,0000 and they are having difficulty obtaining financing through conventional or hard money sources. The investor owns $1,500,000 in stocks.

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Cash-Out Existing Real Estate
Scenario:
An investor has an investment property they purchased from a foreclosure sale. They paid $43,500 cash for the property and invested $20,000 in rehab. The want to recover their initial investment and move forward with a second property but cannot get a conventional refinance due to seasoning and appraisal issues. This investor has $200,000 worth of stocks.

Solution:
By taking out a HedgeLoan® for $127,000, the investor can re-coup their initial investment in the first property and have enough to purchase a second property of equal value. They now have two properties free and clear which can be held as rentals or flipped.


The loan is non-recourse so if their stocks go down they can walk away, and still own the real estate free and clear. Since the investor maintains beneficial ownership of the stocks, they participate in the upside should the stock value increase.


HedgeLender.com


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Disclaimer

Please read our Disclaimer. Not an offer of shares, buy-sell, or tax advice.



www.hedgelender.com

Call Reed Schweizer today at
239-229-5948
rjschweizer29@gmail.com
 

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