Thursday, March 24, 2016

We Have Money To Fund Your Real Estate Flips & Rentals


Ladies and Gentlemen,

Wow… what a great meeting we had last week! We were a little worried about it as you never know on a new location how many will show up. It was a tremendous success. It’s been a long time since we were drawing 70 people to a weekly meeting. No real estate investment association in the state can do that. The big ones are lucky if they can get 50 to 60 at a monthly meeting. So congrats to Real Estate Investors of Virginia for that!

REI of Va is making sure that your deals are fully funded.

We’ve got another great meeting lined up for you. When the topic is about money we always pull in big crowds.

This week our special guest speaker will be a guy by the name of Jim Preuss. Jim is head of business development for Lima One Capital.

As you may know, there are a few ways to get funding for your real estate venture.

1. You can go to a regular bank such as the Bank of Botetourt. Banks expect that you have good credit. In return they will give you a loan with a very favorable interest rate.

2. The other way that you are limited to if you are having difficulties getting financing from the bank is to use a “hard money lender”. That is if you don’t already know a wealthy person who’s willing to be your personal private money bank.

We selected Lima One Capital to come talk to us because they have some very interesting packages. One thing is their rates are unbelievably low for a hard money lender. Typically you are looking at 12 to 15 percent interest with 5 points down on hard money. Lima One’s loans look more in the range of private money which is higher than a bank but quite a bit lower than normal hard money.

Lima One has a program called Fix 2 Rent where they will give you money to buy the deal and money to rehab it. Then once it’s finished they can roll it into a different loan they call the Rental 30.

They have you flippers and wholesalers covered as well. They have a FixNFlip program that gives you money to purchase and fix up a property. They have money for people who want to build a house on a lot they own. They have money for people who already own property and want to cash out and get some funds for another deal they find or something else. They even have money called transactional funding that wholesalers use to do double closings.

As with the last meeting, if you have plans…. cancel them. Make REI of Virginia every Tuesday as a meeting you will never miss. Your rest of your life revolves around wether you have an REI meeting or not.

The keys to unlocking success in your life require jumping in real estate investing with both feet. Surround yourself with other successful like minded people. Don’t let anyone tell you that you can’t do it. Your mind once a week directed towards bettering yourself will lead to your success. It has for me and I can promise you it will for you.

I have been excited about my career and life in general ever since I was able to see my path to success. That’s why you see me get wound up from time to time. I am super enthusiastic about what I do. I live and breathe real estate and have a lot of fun doing it. I consider myself lucky to know and be good friends with so many successful people.

Come on out this Tuesday to Corned Beef & Co, Downtown Roanoke City. The address is 107 S Jefferson St, Roanoke, VA 24011.  I suggest you leave early to make sure you get parking if you are planning on getting a free spot on the street. The parking garage called Car Park is only $2.50 on the roof top after 5pm.

Be there or be square!

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