I have a wonderful opportunity for Real Estate Investors to make a lot of money and gain a ton of equity.
Our program is pretty straight forward, you take possession of rental properties for no money down and receive $10,00 to $20,000 cash back to you
at closing(a seller concession) and have the building rehabbed for you. I'm working with a group of contractors and mortgage brokers who are able to present this opportunity to you (DAM Investment Group, LLC.)
The buildings are generally rented out and if not we'll help you to get it rented. The Fully rented buildings generally support themselves, but will not have alot of cash flow initially because the interest rates are a bit elevated, The cash back to you at closing is however equivalent to several months of positive cash flow. In a few months you can refinance for a lower interest rate to increase long term cash flow to you, or resell the building after a year or so to capture the appreciation in property value.
There are properties available on the west and south side, depending on what our building source has in stock at the time of your approval(the process does require your credit being approved). Our properties are acquired on a buyer by buyer basis, meaning we get what you want more or less. You could also be added to the waiting list until a property of your liking is acquired. The Ideal credit score for this opportunity is 650. Concessions can be made however, and partnerships are encouraged.
The financing programs include: full doc, light doc, no doc, stated, no ratio loans. We find the best program for our buyer based on their unique set of circumstances. The programs are all 100% with cash back, no down payment or closing costs. The loans are usually 2-fold, a first and a second to comprise 100%, sometimes both are fixed and sometimes it's a combination, never are they both adjustable and the blended rate is usually around 8% depending on the buyer's credit and the program he/she chooses.
The property will probably not be totally rehabbed before closing, but a guarantee of its completion, including specificity regarding the quantity and quality, as well as the scope and breadth of the work is detailed in an agreement. Our standard package includes new high efficiency furnaces. The installation of condenser units is considered an upgrade and results in approximately $2500 less cash back to the buyer on a 3 unit building.
The program is unprecedented. It saves the investor $30-$60,000 in down payment money, and $10-18,000 in closing costs. It offers $10-20,000 spending money and allows for up to 10 buildings to be placed in one buyer's name. This is typically enough to give a novice investor with no money up to $3MM in investment property with no money down, and $150,000 in cash. No one can refuse the attractiveness of this opportunity if he/she is serious about investing in real estate!
If you're interested email me for the preliminary loan questionnaire.
Once you're approved We can close in 10 days.
If you don't personally qualify, you can partner with someone who does and own a building with them. I also offer a $1,500 finders fee to you for anyone you bring to me who qualifies for and closes on a building with our program. DerekCramerREI@gmail.com
Derek C. Cramer.