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  • April 20, 2008 at 9:15 AM #190866
    EconProf
    Participant

    BobS
    To the best of my knowledge, the order of loan types, from the lowest rates to the highest is as follows:
    1. Owner-occupied SFR
    2. Non-owner-occupied SFR
    3. Commercial Property
    4. Raw land or lots.

    An exception to #3 being expensive would be if you can snag a SBA loan. Tack on a higher rate to any of the above for poor credit or higher LTV.

    Other readers please weigh in.

    April 20, 2008 at 11:50 AM #190966
    La Jolla Renter
    Participant

    jpinpb, I may have some interest. I have done several hard money deals. If you have a 30-50% LTV the standard rates would be 2pts and 12%. Yeah, 12% bites, but that’s the best your going to find.

    How much are you looking for?

    April 20, 2008 at 11:50 AM #190918
    La Jolla Renter
    Participant

    jpinpb, I may have some interest. I have done several hard money deals. If you have a 30-50% LTV the standard rates would be 2pts and 12%. Yeah, 12% bites, but that’s the best your going to find.

    How much are you looking for?

    April 20, 2008 at 11:50 AM #190904
    La Jolla Renter
    Participant

    jpinpb, I may have some interest. I have done several hard money deals. If you have a 30-50% LTV the standard rates would be 2pts and 12%. Yeah, 12% bites, but that’s the best your going to find.

    How much are you looking for?

    April 20, 2008 at 11:50 AM #190875
    La Jolla Renter
    Participant

    jpinpb, I may have some interest. I have done several hard money deals. If you have a 30-50% LTV the standard rates would be 2pts and 12%. Yeah, 12% bites, but that’s the best your going to find.

    How much are you looking for?

    April 20, 2008 at 11:50 AM #190852
    La Jolla Renter
    Participant

    jpinpb, I may have some interest. I have done several hard money deals. If you have a 30-50% LTV the standard rates would be 2pts and 12%. Yeah, 12% bites, but that’s the best your going to find.

    How much are you looking for?

    April 20, 2008 at 2:32 PM #190932
    jpinpb
    Participant

    I’m thinking 450 – 500k, depending what they work out w/the second on the place. If it goes over that amount, then I’m walking and waiting for the next deal. Too much to take on and for me won’t make any sense, after fixing it up. Maybe a developer will have more interest. Whether I get this place or not, adopting the positive attitudes of the Piggs, I’ll just wait. It will at least bring down the comps just a little more, whether it has a kitchen/baths or not, that’s how low the price can go. The next house will have to sell for a little less.

    Meanwhile, I can finish squaring away the commercial lot in the interim. Right now, I’m just waiting to hear back on what the lender on the second is willing to reduce down to. If they won’t negotiate, then maybe it will go to foreclosure. That may or may not be a good thing. The price will be low and may get those bidding wars where someone will be overpaying in the end.

    April 20, 2008 at 2:32 PM #191045
    jpinpb
    Participant

    I’m thinking 450 – 500k, depending what they work out w/the second on the place. If it goes over that amount, then I’m walking and waiting for the next deal. Too much to take on and for me won’t make any sense, after fixing it up. Maybe a developer will have more interest. Whether I get this place or not, adopting the positive attitudes of the Piggs, I’ll just wait. It will at least bring down the comps just a little more, whether it has a kitchen/baths or not, that’s how low the price can go. The next house will have to sell for a little less.

    Meanwhile, I can finish squaring away the commercial lot in the interim. Right now, I’m just waiting to hear back on what the lender on the second is willing to reduce down to. If they won’t negotiate, then maybe it will go to foreclosure. That may or may not be a good thing. The price will be low and may get those bidding wars where someone will be overpaying in the end.

    April 20, 2008 at 2:32 PM #190998
    jpinpb
    Participant

    I’m thinking 450 – 500k, depending what they work out w/the second on the place. If it goes over that amount, then I’m walking and waiting for the next deal. Too much to take on and for me won’t make any sense, after fixing it up. Maybe a developer will have more interest. Whether I get this place or not, adopting the positive attitudes of the Piggs, I’ll just wait. It will at least bring down the comps just a little more, whether it has a kitchen/baths or not, that’s how low the price can go. The next house will have to sell for a little less.

    Meanwhile, I can finish squaring away the commercial lot in the interim. Right now, I’m just waiting to hear back on what the lender on the second is willing to reduce down to. If they won’t negotiate, then maybe it will go to foreclosure. That may or may not be a good thing. The price will be low and may get those bidding wars where someone will be overpaying in the end.

    April 20, 2008 at 2:32 PM #190984
    jpinpb
    Participant

    I’m thinking 450 – 500k, depending what they work out w/the second on the place. If it goes over that amount, then I’m walking and waiting for the next deal. Too much to take on and for me won’t make any sense, after fixing it up. Maybe a developer will have more interest. Whether I get this place or not, adopting the positive attitudes of the Piggs, I’ll just wait. It will at least bring down the comps just a little more, whether it has a kitchen/baths or not, that’s how low the price can go. The next house will have to sell for a little less.

    Meanwhile, I can finish squaring away the commercial lot in the interim. Right now, I’m just waiting to hear back on what the lender on the second is willing to reduce down to. If they won’t negotiate, then maybe it will go to foreclosure. That may or may not be a good thing. The price will be low and may get those bidding wars where someone will be overpaying in the end.

    April 20, 2008 at 2:32 PM #190956
    jpinpb
    Participant

    I’m thinking 450 – 500k, depending what they work out w/the second on the place. If it goes over that amount, then I’m walking and waiting for the next deal. Too much to take on and for me won’t make any sense, after fixing it up. Maybe a developer will have more interest. Whether I get this place or not, adopting the positive attitudes of the Piggs, I’ll just wait. It will at least bring down the comps just a little more, whether it has a kitchen/baths or not, that’s how low the price can go. The next house will have to sell for a little less.

    Meanwhile, I can finish squaring away the commercial lot in the interim. Right now, I’m just waiting to hear back on what the lender on the second is willing to reduce down to. If they won’t negotiate, then maybe it will go to foreclosure. That may or may not be a good thing. The price will be low and may get those bidding wars where someone will be overpaying in the end.

    April 20, 2008 at 5:20 PM #191012
    GoUSC
    Participant

    I am interested in your commercial piece. Email me at radelow AT yahoo DOT com. Thanks

    Radelow

    April 20, 2008 at 5:20 PM #191036
    GoUSC
    Participant

    I am interested in your commercial piece. Email me at radelow AT yahoo DOT com. Thanks

    Radelow

    April 20, 2008 at 5:20 PM #191064
    GoUSC
    Participant

    I am interested in your commercial piece. Email me at radelow AT yahoo DOT com. Thanks

    Radelow

    April 20, 2008 at 5:20 PM #191078
    GoUSC
    Participant

    I am interested in your commercial piece. Email me at radelow AT yahoo DOT com. Thanks

    Radelow

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