OfflineI found an investor on craigslist that posted :
LOOKING FOR COMMERCIAL OR RESIDENTIAL DEALS
60% LTV ON APPRAISED VALUE
EASY TERMS NO DOC
FAST ANSWERS
CALL ME WITH YOUR DEAL
What is LTV ??? Should I let him know that I can be a bird dog or find assignment contracts. Just learning and trying to figure out what order to do things in. I just found my realtor/Broker and she said she could help me find what im looking for.
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Hey brother, LTV means loan to value. Which means he is looking for a property he can get at 60% of its appraised value. example: You find a property that is appraised at 100,000 and the owners are deperate to get out. They have 40000 in equity and just want out. So you say that you can lock up the property and assign it over to this investor for 60,000. Pretty simple numbers but in reality there are some even better deals out there. On the 15th I might be able to lock up a property for 45,000 to 48,000 that is worth about 100,000! If I am off I am sure other DG family members will correct me, but I am sure that is correct
Proudly serving God, You, and Country,
Edwin Epperson
"The greatest mistake you can make in life is to be continually fearing you will make one."
-Elbert Hubbard
This is a lender, not an investor, or he may invest but in this post he is advertising for people who need loans . He is offering financing for deals.
Another poster posted: We Buy Houses.... any condition ...Cash.. yaddy yadda ... Is this the type of guy I should approach and let him know I can look for deals for him???
It never hurts to contact them and ask for their info, ask him if he is a cash investor and the property types and area's he likes as well as his price range on the homes he likes, and ask how fast he can close and if its cash. you would prefer to work with a cash buyer so you wont have to worry about conventional financing falling through on them. tell him you will keep him in mind when you have a home tha fits his criteria that you dont want and you will call him.
good luck
Richie.
Thanks B.C. I will drop a few lines to him tommorrow and see. Gonna read some more of Deans book before bed and put out an ad maybe with CL but not 100% sure what to say to get my buyers and investors. I want to be different but attractive and simple. I still need a confidence boost and Im sure I`ll get it when my first deal comes trough for me. Goodnight all. Jeff