New Note, no payment history

[ Follow Ups ] [ Post Followup ] [ CREOnline Cash Flow Q&A ]

Posted by Michael Morrongiello on September 02, 2008 at 16:21:40:

In Reply to: New deal using notes posted by Matthew on September 02, 2008 at 15:46:18:

Matthew:
Need a better "feel" for what city in Ohio these properties are located? (don't tell me Cleveland).

Also are the multi units - section 8 type rentals or normal rentals? How many TOTAL units involved including the 3 SFR's and Multi Unit properties?

Also how is current occupancy and income? Is there a sufficient DCR- debt coverage ratio?

Suggest the 30% cash down ($275,400.00) Versus the 20% cash down structure. Also can the interest rate be tweaked to 10% Vs 9.5%?

A 85% of the balance funding amount on a new sale with this unproven Note is going to be tough. If the seller is willing to "Season" the Note that might get us closer to that range but not as an unproven loan.

Look forward to more feedback...

Continued best to your success;
Michael Morrongiello
Paper Practioner
www.sunvestinc.com
Author of the following home study courses;

Paper Into Cash - The Convertible Currency - How to Effectively Create Marketable Real Estate Notes
&
The Unity of Real Estate & "Paper" - Advanced techniques for both the acquisition and disposition of properties using Real Estate "paper"

Follow Ups:


Post a Followup

Name    : 
E-Mail  : 
Subject : 

Comments:

[ Follow Ups ] [ Post Followup ] [ CREOnline Cash Flow Q&A ]

CRE Online, Inc. © 2007, All Rights Reserved.
creonline.com