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100% LTV ACQUIISITION and RENOVATION COMMERCIAL LOANS
NEXA Mortgage LLC now offers 100% acquisition and renovation investment property loans. Needs to have a after improved value of 65% LTV.
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This discussion was modified 1 year ago by
Gustan.
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This discussion was modified 1 year ago by
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8 Replies
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This is a terrific product! OPMs (Other People’s Money) is the fast track to wealth creation… Here’s the play to turn yourself into a mega investor:
1. Credit: You should always strive to have “very good” or “excellent credit”… So try to be at least a 661 FICO score or higher… This is save you thousands in interest paid over time!
2. Liquidity: Just because you’re using OPMs, doesn’t mean you should have “$h!t happens” money… What if the repairs comes out to be more than you expected? What if there are delays during the renovation process due to the weather? What if finding a quality tenant takes a little longer? Be prepared to weather the storm! My recommendation? Have at least $40k-$50k in an easily accessible cash-value account (i.e. checking, savings, money market, stocks, etc.). Thank me later
3. BUILD YOUR TEAM: Trying to find a good deal is tough! All the calls & letters talking to homeowners that will just waste your time is discouraging. Enter “Wholesalers, Bird-dogs, etc.”, these people will go hunting for potential properties for you! Of course you need to make sure that they understand that you need to be at 65%ARV (After Repair Value), and that they need to factor their cut into the deal (Purchase Price + Wholesaler fee + Repairs = 65%ARV)… FYI – you can do a dual closing to leverage this product!
4. EVALUTE YOUR DEAL!: Make sure the number works for your investing risk: cashflow, ROIs, whatever is important to you… Not great at figuring out what needs to be repair? Hire a quality home inspector (or if you REALLY want to know what needs to be done to a property, maybe even get a HUD-consultant, FYI their way more expense, so it may not make sense)…
5. FIND THE MONEY: Contact us! Knowing a good deal is one thing! Knowing where to get the money is a completely different challenge! We created this forum to help guide ANYONE that’s looking for REAL answers from REAL professionals! There’s no bad questions, except the ones you’re too afraid to ask
6. TAKE ACTION: Be consistent at doing the EFFECTIVE work! Don’t fall into the treat of analysis paralysis. You’re not going to know everything until you’ve start doing something. Trying to be efficient or innovative means nothing if you aren’t being effective
-Nelson Thompson aka Mortgage Sensei
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This is great news. The no money down payment on the purchase and renovation on investment properties on one to four unit properties is a brand new product that I have never heard of in my 30 years in the residential and commercial real estate brokerage career. How can we inquire more about this product and how do we get assigned to a commercial loan officer for the 100% LTV investment property purchase and acquisition loan?
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Hey Lisa! To get started is easy! Just book an appointment with me for a free commerical/business lending consultation: https://calendar.app.google/EkxQUtHF1cw6tKkj8
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100% loan-to-value purchase and renovation property loans? Never known such a mortgage loan option existed before on investment properties.
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It’s a portfolio product… The investors are high net-worth individuals looking to park their money… My partner combed the US finding these individuals and created this product from scratch with them! We’re so excited to bring this to market
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Phenomenal great product
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Nelson, can you please get together with Felix later today concerning a $1.2 billion development real estate deal in Costa Rica 🇨🇷. Ocean front and waterfront 600 acre deal.
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Will do!
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