Ideally this process takes no more than 120 days.

Here’s how I fit in:  

An example:

You find a house that you think will sell nice for $175,000.00.

(I caution you to be conservative here. So called “comps” supplied to you by your agent are often more that 3 months old. They often do not include “seller concessions” and other hidden inducements to get the buyer to buy. Despite all the publicity about loan fraud it is still going on . Many so called sales need to be investigated closely to make sure they are real arms length deals.)

Alright. Enough about that. The house will sell for $175,000 after you have made it shine.

From long experience I have learned that in order for you to make money you cannot pay more than 75% of that number or $131,250 less the cost of getting to nice, in other words, the cost of repairs. Let’s say that you estimate that number to be $20,000.

So now we can pay no more that $131,250 less $20,000 or $111,250.

That is not easy to do.

The vast majority of deals I look at nowadays are bank owned properties listed in the MLS. They are almost all dumps located in lower priced areas. That’s fine except that most of them do not make sense as fix and flip candidates.

It will take offer after offer after offer to get a well priced house but when you do get one ( and I do see good deals everyday) that makes sense ,I will provide all the money as follows:

In other words, you can buy the house with no money out of your own pocket.

• Your loan will be written for a 6 month period payable in monthly interest only payments at 12.00%. Using the above example your payments thus will be $1,180.00.

• There is no prepayment penalty, in fact I want you to pay the loan off as quickly as you can.

• There are no other fees of any kind except for those imposed by your title company.

• I do not charge appraisal, inspection, closing or “doc prep” fees.

• The 5.00% loan fee is reduced to 4.00% for repeat customers.