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Hi all.
Not sure if i'm asking the impossible but I'm looking for a investor,investors or a company that would be willing to lend either deposits on BMV purchases or 100% LTV open bridge on deals.
At present I am generating numerous leads a month but due to not being able to complete quick enough I have lost several deals.
I am not intrested in selling leads at this time but i may do in the future.
I'll look forward to any help or advice that maybe given
I can be contacted on leedamians@yahoo.co.uk
Regards
Damian Stevens
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Hi Damian, i might be keen on lending some money mate, all depends on the return. Lets say ive got 100K and i lend that out all secured on houses like a loan.
what sort of return can i expect back? |
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Hi Alex
Thanks for your reply.
I foresee only needing the finance(Bridge/Loan) for 4-6 weeks however there would be a 6 month option to it with late payment penalties added to the deal(At an agreed rate). I would be looking for the finance until i re-finance the deal onto a mortgage or sell the prop on.
I would be looking for you to roll the interest up on a month by month basis with all fees paid at the end.
The property would be purchased in my name and you would put a first charge on the property to secure your interests as you said in your reply.
At all stages you will have access to my solicitor and my broker so we are all informed and things are all very transparent
I would be looking to pay between 0.75%-1% a month with myself covering all other fees(solicitor,TT etc)
Hope this covers all of your questions
Regards
Damian Stevens
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Hi Damian, one last thing if your having a mortgage on these houses as im sure you are as your using a broker. Now the lender would have first charge right? and id have the second charge?
Now my concern is your buying BMV and im only secured on the profit above BMV purchase.
If you default would it be fair to say id probably not get my money back?
Now i obviously need to look at this more as im keen, i might want a personal guarantee as well.
what you think? |
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Hi Alex
The main way I would be using your finance is as a open bridge, You would have a first charge upto point when i re-mortgage then you would be paid back complete.I will be structuring the deals the same as using closed bridging but with the flexibilty of the extra time and quickness to purchase as a cash purchaser.If I was to use your finance as a loan to fund 5%-15% deposits then i would be using that on props I would be re-furbing/Developing,So the option always would be there to re-finance to the higher value,On these we can come to some arrangement with how they are purchased I.e in Joint Names,Interest registered with land reg,Side contract etc.
I would be more than happy to discuss some sort of personal guarantee.
Kind regards
Damian Stevens |
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Hi Alex M
I would seriously consider this before you lend any money.
YOU are the lender, YOU tell the client the terms and conditions.
You are far too inexperienced to be doing this....By the way, I need 250K for a project I am looking into..Can you lend me this please???lol |
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Hi Adrian,
Granted about the lender, client statement,However this is what i am looking for and as it's a slightly different than going to a normal lender, I've put here for people to look at,think about, then hopefully negoiate a deal so both parties are happy.
Not sure who your commenting on when you say about being in-experienced, but as I don't know you and I'm sure you don't know me.I can only assume it's Alex M your talking about to which I think it is a misplaced statement.
Hi Clive,
Could you please elorbrate on your reply.
Not sure what your meaning by mmmmmm??
Kind regards
Damian |
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Hi Damian, will email you privately ref the mmmmmm ! |
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Hi Damian, will email you privately ref the mmmmmm ! |
