My Real Etate Mentors
"ASSIGNMENT OF CONTRACT
Today’s Date:
Seller: Purchaser:
Address: Address:
Phone: Phone:
Original Purchaser: Phone:
Address:
Contract Date:
By this assignment of contract, and with an assignment fee of $ ,
(Original Purchaser) exercises his unqualified right to assign all of his rights and obligations of the attached contract for sale and purchase, dated on the property located at with (Seller) to the Contract Purchaser as follows: The Purchaser of the contract on this property hereby agrees to fulfill all of the same conditions, obligations, and terms of the attached contract for sale and purchase, dated .
The total consideration for this assignment is $ , non-refundable, to be paid as follows:
Upon signing this agreement, Contract Purchaser recognizes that the Original Purchaser is no longer a party to the above referenced contract.
Original Purchaser: Date
Original Purchaser: Date
New Purchaser: Date
New Purchaser: Date
(Have this document notarized.)"
"ASSIGNMENT AGREEMENT FOR
CONTRACT FOR THE SALE AND PURCHASE OF REAL ESTATE"
"This Assignment Agreement for Contract for the Sale and Purchase of Real Estate is made this day of , by and between hereafter called Assignor, and who shall be
known as Assignee.
1. AGREEMENT TO SELL AND PURCHASE: Assignee agrees to accept all terms and conditions of Purchase and Sales Agreement between seller and Assignor dated . Furthermore, the Assignee understands the property is being sold and purchased in “As Is”/” Where Is” condition and shall perform all functions as per said Purchase and Sales Agreement.
2. PROPERTY: The property consists of: (a) The land; (b) All building, other improvements and fixtures on the land if any; (c) All of the Seller’s rights relating to the land, together with the following items, if any: (Strike items to be retained by Seller.) Curtains and rods, draperies and rods, valances, blinds, window shades, screens, shutters, awnings, wall-to-wall carpeting, mirrors fixed in place, ceiling fans, attic fans, mail boxes, television antennas and satellite dish system with controls and equipment, permanently installed heating and air-conditioning units, build-in security and fire equipment, garage door openers with controls, built-in cleaning equipment, all swimming pool equipment and maintenance accessories, shrubbery, landscaping, permanently installed outdoor cooking equipment, build-in fireplace screens, artificial fireplace logs and all other property owned by Seller and attached to the below described real property as commonly known as: County of , and State of
and shown on the tax map of the as Block Lots # .
3. ASSIGNMENT/REFERRAL FEE: Assignee agrees to the purchase price as originally stipulated and agrees to pay known as Assignor the sum of $ .
4. ESCROW: A non-refundable deposit of $ shall be held in escrow by . In the event the property does not close for any reason, the title company can and will deduct all expenses for title fees and services rendered prior to releasing funds to any party. All parties understand that they will be required to sign release forms prior to disbursement of funds to any party.
Page 1 of 2
5. CLOSING: Closing shall take place at on or before - and only upon ability to issue free and clear title as specified in the original Purchase and Sale Agreement dated ."
"6. OTHER PROVISIONS: Assignment contingent upon satisfactory inspection of buyer within 5 days of signing of this contract.
All contractual items and obligations as per contract dated November 16, 2017 shall apply and Assignor and Assignee hereby certify that such contract and terms of same have been fully disclosed. Assignee shall assume responsibility of any/all closing costs associated with this transaction including but not limited to deed preparation fee, realty transfer tax fee, recording fees, release fees, and all title company charges.
Agreed and Executed
, Assignor Date
, Assignee Date"
"ASSIGNMENT OF CONTRACT
Today’s Date:
Seller: Purchaser:
Address: Address:
Phone: Phone:
Original Purchaser: Phone:
Address:
Contract Date:
By this assignment of contract, and with an assignment fee of $ ,
(Original Purchaser) exercises his unqualified right to assign all of his rights and obligations of the attached contract for sale and purchase, dated on the property located at with (Seller) to the Contract Purchaser as follows: The Purchaser of the contract on this property hereby agrees to fulfill all of the same conditions, obligations, and terms of the attached contract for sale and purchase, dated .
The total consideration for this assignment is $ , non-refundable, to be paid as follows: 50% of Assignment fee to be paid to
50% of Assignment fee to be paid to
Upon signing this agreement, Contract Purchaser recognizes that the Original Purchaser is no longer a party to the above referenced contract.
Original Purchaser: Date
Original Purchaser: Date
New Purchaser: Date
New Purchaser: Date
(Have this document notarized.)"
"Rent To Own Buyers Tracking Sheet"
"Date" "Name" "Current Address" "City"
"POC
ZIP" "Phone #" "Email Address &
Website" "Date They Want to
Move In"
"Area Wanted" "Rent they can
Pay" "Criteria"
"$ -"
" Notes "
"Home Buyer Tracking Sheet"
"Date" "Name" "Current Address" "City"
"POC
ZIP" "Phone #" "Email Address &
Website" "Date They Want to
Move In"
"Area Wanted" "Price to Pay" "Criteria"
"$ -"
" Notes "
"How to Calculate MAO
Fix/Flip Example
Get comps from a realtor or P2P to determine ARV"
"ARV x 70%
Minus repairs $
MAO" "$
$
40.00 $
$" "400,000.00
280,000.00
100,000.00
180,000.00" "enter info in blue field
sqft 2500"
"If you are going to Wholesale the deal don't forget your fee!"
"Minus Assign Fee
Your offer" "$ 10,000.00
$ 170,000.00"
"Determining Cost for Repairs Flip"
"Bad" 20.00 "per sqft"
"Really Bad" 30.00 "per sqft"
"Awful" 40.00 "per sqft"
"Note: Costs vary by area"
"Income Property Example (Hold
Get comps from a realtor or P2P to determi"
"n blue fields"
"ARV
x 80% discount
Minus repairs $ -
MAO
Minus Assign Fee
Your offer"
"Determining Cost for Repairs for Ren"
"Bad" 10.00
"Really Bad" 15.00
"Awful" 20.00
"Note: Costs vary by area"
"(Hold the property)
o determine ARV"
"$" 400000.00
"$
$" "320,000.00
-" "TBD"
"$" 320000.00
"$" 10000.00 "if you are wholesaling it"
"$" 310000.00
"for Rental"
"per sqft
per sqft per sqft"
"Wholesaling Tips From
William Bronchick"
"Tip #1 Build Your Dream Team
Many entrepreneurs believe that, if you want something done right, do it yourself.
Personally, I believe that is the rationalization of control freaks unwilling to delegate.
In reality, your dream team will help you reach your financial goals faster than you ever can alone."
"Sure, you can find motivated sellers and build a great buyer's list on your own, but other tasks require the expertise of others.
Some of the members of your team should include :
real estate agents, who can bring you sellers
home inspectors, who can spot things you might never notice"
"rehab crews, who can do work in much less time than you could,assuming you want to pick up a hammer
contractors, who can finish off a repair job in next to no time
appraisers, who can give you accurate values on given houses"
"mortgage brokers, who can arrange the needed financing for your buyers
hard money lenders, who can provide needed financing in a crunch
title company agents, who can prepare the proper paperwork
real estate attorneys, who can make sure everything is in order"
"and last, but not least, your mentors, who can answer questions when you get stuck, and provide motivation should you need it.
Some guidelines for dealing with your team:
--- Interview all of them to make sure there is a good fit,
that you are on the same page"
"--- Those with 2-3 years full- time experience work best
--- Those with experience working with investors like you is an added benefit
--- Ask for referrals from each prospective team member
--- Mutual benefit works best. You want everyone on your"
"team to make money by working with you.
--- Don't depend on just one from each category. More than one gives you flexibility.
Imagine if a rehab crew cannot get to your job when they are needed. Or to your buyer's job. Since you would rather have your fee sooner rather than later, you want to be able to have another crew on hand."
"The more you use your dream team, the easier your job becomes, and the more money
you will make."
"Tip #2: Avoid These Fatal Wholesaling Mistakes
Wholesaling properties is a lucrative business, but there are a number of costly mistakes to avoid. Namely...
--- Not understanding marketing. This is the ingredient that makes
everything else go."
"--- Not having a marketing plan. Having a marketing plan keeps you on track. A step-by-step system will help keep you in the black.
--- Not performing due diligence. You need to take time to determine the true market value of each house. That way, you can accurately make a determination about what to
offer."
"--- Not having business cards. Pass these out to anyone who could help you make the money you want. Go to www.vistaprint.com for 250 free cards.
--- Not having a 1 or 2- line description for what you do as an investor. This comes in handy when someone asks you
what you do."
"--- Not having an organized follow-up system. Keep a file on everyone you talk to, including contact info., date, and a brief sketch about what you discussed.
--- Not prescreening prospects. This relates to buyers and sellers. Spend as little time as possible with unqualified
prospects."
"--- Not making enough offers. Do not let fear keep you from making the money you deserve.
--- Letting real estate agents discourage you. Find others who are encouraging.
--- Being impulsive. Don't be so anxious to make a deal that you overlook key ingredients that will enable you to realize your
fees."
"--- Not paying attention to communication. Take your time with prospects, and be aware of HOW you are saying things. Be ready to answer questions, which tend to be the same across sellers. Study 3 x 5 flash cards with questions and answers until you have everything memorized.
--- Not having a consistent source of properties. Develop"
"relationships with divorce attorneys, probate attorneys, hard money lenders, REO bank officers, bird dogs, and anyone else who can lead you to houses.
--- Falling in love with the property. Just because a given house is beautiful does not mean it is right financially for you or your buyers. Keep your
emotions in check."
"--- Getting greedy. Don't try to hit a home run with every property. Leave a large potential profit for your buyers.
--- Paying too much for a house. No profits = no business and a waste of your time.
--- Ignoring the Internet. Use it to market to buyers and sellers. Use www.Craigslist.org for free advertising."
"--- Not building up a cash reserve. Sh@t happens. Count on it. A cash reserve can bail you out of a temporary problem.
--- Not having a solid buyer's list. With this part of your system lacking, you cannot complete deals.
--- Coming off too slick with sellers. Makes them suspicious"
"that you are taking advantage of them. Don't brag about the dozens of deals you have done.
--- Thinking you wouldn't want to live in a given house. You are not a renter or buyer. You are a wholesaler. Someone else will certainly want to live there, even if it is in a war zone.
--- Not running the numbers. Don't sign a contract before you know you can make a profit."
"--- Thinking mistakes are the end of the world. Face it. You are going to make them. Being ready to deal with them is the solution. When you fail, learn.
--- Not realizing how deep a discount you can get on a given deal. Don't be bashful about low-balling. You never know
what seller will accept."
"--- Not knowing how to close a deal. Educate yourself and be prepared.
--- Taking seller's word that the house is in perfect shape. Let a home inspector tell you that.
--- Not having relationships with private lenders, appraisers, contractors, rehabbers, etc.
They represent your “power team” and can be instrumental in getting you paid."
"--- Not doing research before hiring a contractor. Check out their references.
--- Not sticking to a budget, especially when remodeling. Why waste money when you don't have to?
--- Dealing with houses with weird floor plans (must go
through bedroom to get to"
"kitchen, etc.). These are harder to sell, and your buyers will be reluctant to buy them.
--- Not having someone to call when you get stumped.
Extremely important to keep things running smoothly.
--- Doing nothing. Procrastination kills. Talk to someone successful to help overcome your inertia."
"Tip #3: What Kinds Of Houses To Look For
In wholesaling, you want the type of house that your buyers will want, the ones that, for them, sell the fastest, and, of course, ones they can make a profit on. Following are some tips on what you should be
looking for."
"In general, especially if you are just starting out, avoid houses in the high end of the market. Yes, they can look beautiful, and clean up real nice, but most retail buyers will not be able to afford to live in them. And as rentals, they are murder when investors are trying to cover the mortgage payments.
You want to work mainly with houses in working class
neighborhoods. Investors will"
"be interested in these types of homes for rental purposes. And a majority of reliable renters will want to live in these neighborhoods.
Look for houses in need of repair. Look for peeling paint, broken windows, unmowed grass, general disrepair.
Especially in the beginning of your career, deal mainly with houses that do not need"
"structural repairs, like foundation work. You will receive your fees quicker because any needed repair work can be done relatively quickly.
In the neighborhood you are working in, you want houses that are most affordable for first-time buyers. Those are the houses your buyer will want to
rent out."
"Put another way, you want houses in the median price range for your area.
The ideal house investor will want to buy will have 3 bedrooms and 2 baths, although you can get away with 1 ½ baths. This is the bread and butter rental house for your buyers. If your area has only 2 bedrooms and 1 bath, you may
have to go with that. Or, go"
"farther afield to do your hunting.
What about war zone houses? Generally, you will do better in working class neighborhoods.
However, if you have buyers on your buyer's list who want war zone types of homes, go for it.
Avoid houses with weird floor plans. For example, houses where one is required to go through a bedroom to get to a"
"kitchen, etc. They will be harder for your buyer to rent or retail.
Avoid houses that are too small. Medium size houses are what you are after. Medium for your area, that is.
The more equity a house has in it, the better your chances of making a deal with your buyer. More equity means there is plenty of room for your buyer's
profit, not to mention your fee."
"You, of course, want to be dealing with motivated sellers who are willing (or forced) to take a discount from their
asking price."
"Tip #4: What Are The Benefits Of Wholesaling Real Estate?
The formula for wholesaling is simple: find a house, assign a house; Find a house, assign a house; Find
a house, assign a house. Tricky, huh?
The benefits of wholesaling are numerous..."
"--- hands down, the fastest way to stuff your pockets with cash
--- the lowest risk, highest returning, headache-free way to invest in real estate
--- your ability to cover short- term cash flow gaps"
"--- build a monthly income that surpasses your annual salary in less than 92 days
--- siphon off piles of cash on even the trashiest properties
--- tell your boss to “shove it” in less than 12 months
--- make money in a booming market; make even more in a
down market"
"--- net $15,320 for 3 hours work
--- you control how much you make each month
--- get handsomely paid as a middleman; let others do the “heavy lifting.”
--- create your own cash machine"
"--- support yourself with one deal a month; live well with two deals a month
--- get paid consistently month after month
--- generate cash profits NOW, not months or years into the future
--- insulate yourself from risk"
"--- ability to buy for pennies on the dollar
--- recession-proof business
--- 4 key players on your “dream team” will increase your profits by up to 400%
--- avoid shelling out hundreds of dollars to home inspectors"
"--- succeed without ever setting foot in a bank (except to deposit your profits)
--- make thousands without lifting a finger for repairs
--- you don't need a real estate license
--- succeed with no money, no job and no credit"
"--- close on houses sight unseen
--- no mortgage brokers, no real estate agents, no title company fees
--- avoid the headaches associated with buying and
holding"
"--- what do you mean you can't wholesale an REO? Now you can
--- get completely out of debt within 12 months
--- get around lender “seasoning rules”
--- build an 11-person buyer's list in under 9 days"
"--- stick it to the tax man (legally)
--- 5 types of buyers will help you succeed
--- pay off credit card bills with a single transaction
--- tie up a deal worth 5 figures with a ten dollar bill"
"--- work from home in your pajamas
--- total time from contract to close? 7 days; profit? $2,900.00
--- “skinny deals,” (less than
$2,000) allow you to knock off monthly bills
Whew! Quite a list. Actually there are dozens more."
"Certainly worth a look at wholesaling.
Now...decision time: It's either umbrella drinks in your favorite tropical resort, or back to the 9-
5 rat race."
"Tip #5: Build A Profitable Buyer's List
When you start out wholesaling houses, one of the first things you want to do is build a buyer's list.
Don't make the mistake that many beginners make by waiting until you have a house under contract. If you do, you put yourself under pressure.
Scrambling to find a buyer"
"could also put other profitable activities on hold.
Numerous groups of people will want to buy houses from you: real estate newbies, rehabbers, contractors, retailers, investors interested in doing lease options, etc. Make a connection with someone in any one of these groups, and they could
become regulars."
"Here are a few ideas about how to reach potential buyers.
--- Get hold of a list of “section 8” investors at your local property management company.
Property management companies can also put you in touch with other investors who might be interested.
--- Put a classified ad on Craigslist (www.craigslist.org):"
"“Investors wanted. Local property owner selling houses at huge discount. (phone number)” Or some such wording.
--- Join your local real estate club and network with the investors there.
--- Call the “for sale” classified ads in your local newspaper.
Especially the ones that say “newly renovated.” That indicates a rehabber or"
"contractor who might be interested in future deals.
--- In the classifieds, look for the words “rehab special” to find investors
--- Other words to look for in the classifieds: “Thousands below market,” or “I buy houses.” In short, any indicators that you might be dealing with
an investor who can potentially"
"be responsible for stuffing your pockets with cash.
--- You are walking or driving down the street and see a house being remodeled. Stop to chat with the contractor or rehabber. Or get the contact information of the owner, if the workers are only hirees.
--- Contact “hard money”( read higher interest rates) lenders for investor names."
"Tip: Go to www.vistaprint.com and send for 250 FREE business cards you can hand out to potential buyers.
--- Of course, you can always place your own classified ad. Something like “House for sale. Thousands below retail,” or “investor special” to get your phone ringing. VERY IMPORTANT: Be sure to get
the contact info, including the"
"email address, of everyone who calls. You want the email address so you can do an e-blast without having to write individual notices to prospects.
By the way, in your e-blast, create a frenzy with some message of urgency about your offer. Some sort of first come, first served message.
Suppose you don't have a house for sale? No problem. Always"
"be running “blind ads” in order to strengthen your buyer's list.
Something to say when a caller responds: “That house has been spoken for, but I will call you when the next one comes up for sale.”
Put an asterisk beside the names of potential buyers who 1)can close fast , 2) who are cash buyers, and 3) who are experienced. You don't want to
waste a lot of your time,"
"especially at first, hand holding a newbie who can exhaust you, and possibly make you think that wholesaling is not profitable. It is.
Interestingly, you don't need dozens of buyers to be successful. You are more interested in the QUALITY of your buyers, especially ones who are experienced cash
buyers and can close fast."
"Tip #6: Negotiate Your Way To Five Figure Paydays
You've seen a house inside and out, done the necessary calculations, and now it's time to negotiate with the seller(gulp!). Not to worry. Like anything else, negotiating can be learned. Some tips(not in any
particular order):"
"--- Determine what your financial goal is for each deal. What do you have to earn to make it worth your time to proceed?
--- On the phone, determine if seller is genuinely interested in selling. Try to set up an appointment. If he is reluctant, move on.
--- Remember, negotiating is a PEOPLE thing. Use your"
"people skills. There's no need to be pushy.
--- Knowledge about the seller's situation can be a great aid to the negotiation. If he is about to be foreclosed upon, you can ignore his gruff attitude. He needs you.
--- If the property has just been put up for sale, sellers are more reluctant to negotiate. If the house has been on the market"
"for a while, seller is likely to be more motivated.
--- When face-to-face with seller, don't be in a hurry to get down to business. Take your time. Ask questions.
--- Before negotiating, know what the house is worth.
--- Remember, an offer involves more than the price. Seller has"
"an emotional investment in the property.
--- Recent life events (divorce, death in family, relocation, pending foreclosure, etc.) may motivate seller.
--- Many sellers base their asking price on what I call “plucked from air.” Don't depend on that price for your starting point. Remember, the
one with the gold(you) wins."
"--- Know your limit. Do all necessary calculations beforehand. Have in mind who, among your buyers might be interested, and at what cost.
--- On the phone, seller insists that you name a price: You say “Assuming your house is in the same condition as some of the others in the neighborhood, my investors and I have been
buying between (name a range"
"of prices). What if that is all I can offer you?”
--- After you have a brief look around seller asks “What's your offer.” You say “Well, Mr.
Seller, I don't really know the condition of your house. Can you tell me a bit more about the kinds of repairs it needs?”
--- Ideally, get seller to name his bottom line price first. “Paying all cash and closing"
"6) On line, go to classified ad sites, especially free ones, like
www.Craigslist.org"
"7)Once you get going, and can afford it, going the direct mail
route can be quite profitable."
"Spreadsheet for Buy-Fix-Sell"
"Address
Always hire a Property Inspector to evaluate repairs."
"Appraised value (5 comparables or spreadsheet)" "$" "-"
"Anticipated selling price (95% of appraised value based on 5 comparables)" "A" "$" "-"
"1. Purchase Price" "B" "$" "-"
"Deposit $0 Cash to Close $0 Mortgage $" "-"
"2. Purchasing Costs" "C" "$" "-"
"Including Closing cost #1 (+/- 3%) (B) $" "-"
"Repairs $" "-"
"Other $" "-"
"3. Holding Costs (allow 6 months)" "D" "$" "-"
"Including Mortgage payments $" "-"
"Property taxes $" "-"
"Utilities $" "-"
"Lawn/snow maintenance $" "-"
"Insurance $" "-"
"Water $" "-"
"Management $" "-"
"condo Fees $" "-"
"Other $" "-"
"Other $" "-"
"4. Selling Costs" "E" "$" "-"
"Including Closing cost #2 (+/- 1.5%) (A) $" "-"
"Sales Commissions (+/- 6.0%) (A) $" "-"
"Advertising $" "-"
"5. Income (If any)" "F" "$" "-"
"Rents $" "-"
"Vending $" "-"
"Parking $" "-"
"Garage $" "-"
"Sign rent $" "-"
"Other $" "-"
"Other $" "-"
"Profit or Loss"
"Anticipated Selling Price" "A"
"Minus" "Purchase Price" "B"
"Minus" "Purchase costs" "C"
"Minus" "Holding costs" "D"
"Minus" "Selling Costs" "E"
"Plus
EQUALS" "Income (if any)
Net Profit/Loss to you" "Total" "F"
"$ -"
"$ -"
"$ -"
"$ -"
"$ -"
"$ -"
"$ -"
"**********************************************************************************************************************************"
"Cash Required By You
Deposit (1)
Cash at closing (1) Purchasing costs (2)
Holding Costs (3)
Advertising Cost (4) Other"
"$ -"
"$ -"
"$ -"
"$ -"
"$ -"
"$ -"
"$ -"
"$ -"
"$ -"
"Sub Total
Minus Income (5)"
"Equals Total Cash Req"
"SFR Property Repair Estimate Sheet
Based on a 1,000-2,000 sq. ft. (living space) Single Family Home
Street Address: 833 Jackson Road Date: 11/25/19 Inspected by: Colin York City: Mays Landing ( X ) Occupied ( ) Vacant
#: Beds 2 Baths 1, 916 Sq. Ft house , Year Built:_1965 "
"Commnts: House needs a complete rehab with proper finishing of kitchen, baths and bedrooms. Drop cieling in kitchen and bedroom will need removed due to water damage."
"Inspection Checklist" "Yes" "No" "Unknown" "# Units" "Repair Cost Calculations" "Repair Cost"
"1. Chimney Need Repair/Replacement?" "X" "Repoint $500 Rebuild $1,000-$5,000"
"2. Roof Need Repair/Replacement? Roof needs an update." "X" "(Single): $ 5,000-$8,000 $275-$350/Square (100 sq. ft.)" 8000.00
"3. Exterior Paint/Siding Need Repair/Replacement?" "X" "X" "Paint: Sing. Fam. 1500 sq. ft.: $3,000-$5,000 (power wash and paint and some repairs)
Siding (Single Family): $6,000-$8,000 $275-$500/square" 2500.00
"4. Windows Need Repair/Replacement? = 11 new windows
(Upstairs and downstairs" "x" "# of Window x $325-$500 Bay Window: $1,000-$2,000 Repair $25-$100x11=1100" 1100.00
"5. Exterior Doors Need Repair/Replacement?" "X" "$250-$400 ea. New Front door $600 + New Rear Door= $1000" 1000.00
"6. Garage Need Repair/Replacement? (paint and roof)" "X
X" "1 Garage Door: $650 1 Reframe Structure: $1,500
1 Car Int. Paint: $500 2 Car Int. Paint:$1000"
"7. Driveway Need Repair/Replacement?" "X" "$2,500-$5,000 average driveway replacement $4-$6/sq. ft."
"8. Yard cleaned/landscaped?" "x" "Landscape $300-$5,000" 1500.00
"9. Fence Need Repair/Replacement?" "X" "$100-$150/section fencing repaired and replaced"
"10. Septic Need Repair/Replacement? Septic/well" "X" "$5,000-$30,000 (replaced every 20 yrs required)" 20000.00
"11. Heating or furnaces Need Repair/Replacement?" "x x" "x" "Replace 1 Furnace: $3,000 Replace 1 Boiler: $4,000 = Heater +Hvac Replace 1 Hot Water Heater: $ 800-$1,200
Install 1-2 Zone Baseboard Heater Including Boiler: $7,000-$10,000 FHW" 5200.00
"12. Plumbing Need Repair/Replacement? Water not running in the bahroom." "x" "$1,000-$5,000 Rough Plumbing (drains, venting, water lines, etc…)
$800-$1,500 per fixture (i.e. laundry hook-up, sink, etc…) Washer, kitchen, water heater" 8000.00
"13. Electrical Need Repair/Replacement? (New panel and
house rewired)" "x" "1 New Panel: $1,000-$1,500 Fixtures: $400-$1,000 = Panel and electric
1 New Service, Panel, Rewire House: $5,000-$10,000" 10000.00
"14. Foundation Need Repair/Replacement?" "X" "$50-$150/linear foot"
"15. Basement structure Need Repair/Replacement? 2 walls leaking water need sealing" "X" "Pour Concrete Floor: $1-$3/sq. ft. (new) $0.50-$6/sq. ft. (repairs)
Replace Stairwell: $1000-$2000 Lally Column $100-$200 LVL $10-$20/linear foot"
"16. Interior Doors Need Repair/Replacement = 9" "x" "$125-$200 ea. = $150 x 9= $1350" 1350.00
"17. Closet Shelving" "X" "$50-$100 per closet"
"18. Framing Need Repair/Replacement" "X" "$500-$5,000 depending on scope change floorplan" 5000.00
"19. Interior Trim Need Repair/Replacement" "x" "$2-$4/linear foot = 900 sqft x $2 = $1800" 1800.00
"20. Interior Paint" "x" "Interior Paint: $2 /sq. ft. (living space) as a general rule
Single Family: 900 sq. ft. $1800" 1800.00
"21. House need carpet? Yes" "x" "Carpet $2-$4/sq. ft. $3 x 700 sq ft = 2100" 2100.00
"22. House need laminate/vinyl?" "x" "Laminate/vinyl $3-$6/sq. ft. 200 sqft x$3= $600" 600.00
"23. House need tile? (kitchen)" "x" "$5-$10/sq. ft. $6 x 200 sqft = $1200 1 kitchen" 1200.00
"24. Floors need to be sanded/installed (Repaired)" "X" "Hardwood Install = $6.00-$10 sq./ft. Sand & Refinish= $1.25-$2 sq./ft. W subfloor"
"25. Kitchen Cabinets and Counters Need
Repair/Replacement?" "x" "Single Family Cabinets and Counters: $2,500-$6,500" 5000.00
"26. Insulation need replacement?" "X" "x Attic/Basement: $1-$1.50/sq. ft. X 800sq.ft Wall: $0.50-$1/sq. ft. (coverage area)" 1200.00
"27. Kitchen - need appliances?" "x" "1 Stove: $500-$1,000 1 Refrigerator: $800-$1,500
1 Overhead Microwave: $300-$500 1 Dishwasher: $350-$700" 2650.00
"28. Bath Fixtures/accessories? (upgrade 1 bathroom," "X" "Shower: $600-$2,000 Install add: $500 Toilet: $75-$200 Install add: $150
Vanity/Sink: $150-$600 Install add:$300
Mirror/Towel Bar/Toilet Paper Holder/Towel Ring: $100-$300"
"29. Sheetrock Need Repair/Replacement?" "Patches: $1-$2/sq. ft. Skim Coat Only: $0.50-$1/sq. ft.
New Blueboard/Plaster/Drywall: $1.10-$1.50/sq. ft. $1.30 x 600 sqft"
"30. Dumpsters/Demo?" "x" "Dumpsters: $500 ea. Demo Labor: $500/filled dumpster" 500.00
"31. Decks, Patio cracks fixed (sealed and Painted)" "x" "Decks: 10x10 = $2,000 10x15= $3500"
"32. Other: lower brick work repairs" "X"
"33. Miscellaneous" "Repair Cost x .10%" 8050.00
"34. Comments: " "Total Repair Cost:" 88550.00
"After Repair Value" 145000.00
"Cash Purchase average discount =ARV X 65%" 94250.00
"Heating System: Boiler Furnace X Heating Fuel: Gas X Oil
In Ground Oil Tank: Yes No x
Make Notes per SectiWonatoenr: Back City Well X
Sewer: City Septic X"
"(Subtract Repairs)" 88550.00
"Offer -" 5700.00
"(Subtract Funding, Holding and Selling Costs)" 10000.00
"MAO -" -4300.00
"Spreadsheet for Buy-Fix-Sell
Address: 567 Ave B, Anytown Always hire a Property Inspector to evaluate repairs. Appraised Value (5 comparables or spreadsheet)
Anticipated selling price (95% of appraised value based on 5 comps) A"
"1. Purchase Price B
Including Deposit $100 + Cash to Close $ $0 + Mortgage"
"2. Purchasing Costs
Including Closing Cost #1 (+/-2%) (B)" 4000 "C."
"Repairs" 11700
"Other (10% contingency)
3. Holding Costs (allow 6 months)
Including Mortgage Payments" " $1,170
$5,880 " "D."
"Property Taxes" 925
"Utilities" 900
"Lawn/Snow maintenance" 0
"Insurance" 600
"Water" 300
"Management" 0
"Condo Fees" 0
"Other" 0
"Other
4. Selling Costs
Including Closing Cost #2 (+/- 1.5%) (A)" " $0
$4,204 " "E."
"Sales Commissions" 12408
"Advertising
5. Income (if any)
Rents" " $0
$600 " "F."
"Vending" 0
"Parking" 0
"Garage" 0
"Sign Rent" 0
"Other" 0
"Other
Profit or Loss
Anticipate Selling Price" 0 "A."
"Minus Purchase Price
Minus Purchase Costs
Minus Holding Costs
Minus Selling Costs
Plus Income (if any)
EQUALS Net Profit/Loss to you" "Total Profit/Loss" "B.
C.
D.
E.
F."
"Cash Required By You
Deposit (1)" 100 "Total Cash Req'd"
"Cash at Closing (1)" 0 "Cash/Cash ROI"
"Purchasing Costs (2)" 16870 "(x100 x2 to get yearly)"
"Holding Costs (3)" 8605
"Advertising (4)" 0 "(Profit divided by Cash Req'"
"Other" 0
25575
"Sub-Total"
"Minus Income (5) $600"
24975
"Equals Total Cash Req'd"
295000
280250
"Fill in fields in blue only. Rest are
calculations"
200000
199900
16870
8605
16612
600
280250
200000
16870
8605
16612
600
38763
24975
1.550000
3.100000
"Cash Req'd)"
"HARD MONEY LENDER TIPS"
"Hard Money Lender 100% Financing Blueprint"
"The key to getting 100% financing is simple. You need to spend 1 hour calling 5 - 10 hard money lenders and ask them the following questions and save them in a funding blueprint cheat sheet to refer to when you get a contract accepted.
1. What Loan-To-Value or LTV of the After Repair Value (ARV) do I need to be at with total costs to get 100% financing?"
"2. What are your loan terms? 4 months, 6 months, 9 months?
3. If I go over the maturity date, do you give loan extensions? (What are those terms?)
4. Do you lend on just the property or do you need to see my credit scores?
5. How many points do you charge & can those points be rolled into the loan amount?"
"6. If I bring a really low LTV deal will you roll the points into the loan as well as the interest only payments?
7. How do you want the rehab costs to be broken down when submitting for approval? Dollar amount only? Dollar amount + List of repairs?
8. Do I need to provide you anything special from the contractor for final approval?"
"9. Do you lend the purchase money + the fix up money?
10. Do you require a minimum amount of reserves in the bank for approval?
11. What is your ""Loss Payee Clause"" that needs to be added to my insurance policy when going to closing?
12. Do you require an appraisal confirming the After Repair Value or no?
13. Are there any other fees that I need to be aware of before deciding to submit to you for financing? Ex: Application Fee? Construction Disbursing Fee and so on.
14. If I provide you with everything, how quickly can I get a pre-approval (if needed)?
15. If approved, then how quickly can you close on average?
16. Once I’ve done a deal start to finish with you, will you allow me to do more than one at a time?"
"17. When I do have a deal to submit, to whom and where do I submit it?"
"Special Note: Be prepared when submitting to them for approval. Meaning, always be organized and put the following in your email/submission for approval: (Even if they do not ask for it because you will stand out to them and if they are deciding who to give the money to, then you will win!)
- Address of subject property
- Signed Contract if you already have one
- Closing Date or Estimated Closing Date
- Estimated ARV: ?
- Purchase Price: XYZ
- Estimated Repair Costs: XYZ
- Scope of work to be done (if you do not have the bid yet)
- Contractor's Bid & Proof of contractor’s insurance
- How long the project will take in your estimation
- Your insurance agent's information for later use (if you already know who to use)"
"Private Lenders"
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CU FINANCIAL INC
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CWM PARTNERS LP
FLATIRON REALTY CAPITAL LLC OMNI FUND INC
GET A RATE LLC
PROVIDENT FUNDING ASSOC LP BAY TO BAY LENDING LLC"
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TVC FUNDING II LLC BARR GROUP INC
EASY STREET CAPITAL INVESTMENT NEW CARLISLE FEDERAL SAVINGS B PINNACLE FINANCIAL SERVICES LL BAYPORT FUNDING LLC GROUNDFLOOR HOLDINGS GA LLC NEWREZ COMMUNITY LENDING LLC SECURE ONE CAPITAL CORP
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1ST SIGNATURE LENDING LLC ANCHOR LOANS
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THE SECRETARY OF VETERANS AFFA AMERICAN FINANCE HOUSE LARIBA AMERICAN FINANCIAL RESOURCES FIRST CITIZEN B&T CO
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DAY AIR CU INC FORTUNE FINANCIAL INC AMP LENDING
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PINNACLE FUNDING CORP"
"PLANET MANAGEMENT GROUP LLC PLUM CREEK FUNDING INC
JET LENDING LLC KATHADIN TRUST CO
QUICK SOURCE CAPITAL LLC TELHIO CU INC
WELCOME HOME FINANCE HOUSEMAX FUNDING LLC KENNEBEC FEDERAL SAVINGS & LOA MASTERMAN ROCHE INC
UIF CORP
BM REAL ESTATE SERVICES INC SUMMIT FUNDING ADVISORS ASHMORE PARTNERS LLC LINCOLN CAPITAL ADVISORS ANABAPTIST FINANCIAL
ELITE FINANCING GROUP LLC NEAL COMMUNITIES FUNDING LLC
VOYA INVESTMENT MANAGEMENT CO ADVISORS CAPITAL INC
FIRST CHOICE LENDING GROUP LP FIRST RATE FINANCIAL GROUP NEVADA HOUSING DIVISION
SK GLOBAL INVESTMENT INC USA DEPT OF AGRICULTURE
FIRST STANDARD FINANCIAL CORP NORTHERN SIERRA FINANCIAL SERV PARK PLACE FINANCE LLC
ACCESS CAPITAL FUNDING LLC NCL LLC
UNITED FINANCIAL GROUP LLC BC TEXAS DEBT WAREHOUSE LLC BEAM LENDING LLC
INTERCONTINENTIAL CAPITAL GRP L ALLEY LOANS INC
WYNDHAM VACATION RESORTS CAPITAL CONCEPTS INC MIDWEST LOAN SOLUTIONS INC PREMIER LENDING LLC
212 LOANS LLC ABL TWO LLC
BELL ROCK INCOME FUND 1 LLC"
"SACO & BIDDEFORD SAVINGS WELCOME HOME FUNDING LLC ALDERUS FUNDING & INVESTMENTS LAXMI NARAYAN ENTERPRISES INC LEADERONE FINANCIAL CORPORATIO LOANDEPOT.COM, LLC
GOLDEN WEST ALLIANCE INC OBSIDIAN FINANCIAL SERVICES IN RFLF 1 LLC
RIVERBEND FUNDING LLC HOME ACCESS FINANCIAL LLC PACWEST FUNDING INC
THE HORN FUNDING CORP CNB
GROUNDFLOOR HOLDINGS GA MISCELLANEOUS OTHER WASHINGTON EQUITY AND FUNDING FIDELITY LENDING SOLUTIONS INC LADDER CAPITAL FINANCE LLC SACHEM CAPITAL CORP
AMERICAN FINANCIAL LENDING INC CAPITAL PLUS FINANCIAL LLC LONE OAK FUND LLC
RIVER VALLEY CU INC COASTAL LENDING GROUP LLC
DEPARTMENT OF VETERANS AFFAIRS DG PINNACLE FUNDING LLC
EFINITY FINANCIAL INC NET 1 FUNDING CORP 1ST LIBERTY
ALOHA CAPITAL LLC NATIONS LENDING
THE CROSSFIRE FINANCIAL NETWOR THOMPSON KANE & COMPANY LLC AMERICAN LAND & CAPITAL LLC CADENCE LENDING GROUP INC MEMBER OPTIONS LLC
MR COOPER
PLATINUM FINANCIAL FUNDING SHERMAN BRIDGE ALT FUND CALLISTO GROUP INC
FAY SERVICING LLC"
"HOUSE OF FINANCE INC
KENTUCKY HOUSING CORPORATION UNITED SHORE FINANCIAL SERVICE ALERUS FINANCIAL
CENTRAL COAST LENDING INC RADIANT FINANCIAL GROUP LLC SNAPFI INC
WARSHAW CAPITAL LLC WNB FINANCIAL NA
WOODSVILLE GUARANTY SAVINGS BA EXCEL MORGAGE SERVICES
INFIRST BNK
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JONES LANG LASALLE MULTIFAMILY M & T INVESTMENT GROUP PINNACLE FUNDING GROUP INC CONSTANT INVESTMENTS INC DELMAR FINANCIAL
I3 LENDING INC PRIMARY PARTNERS
BON VIEJO ESTATES II LP
QUARRY CITY SAVINGS & LOAN ASS AK BELL INC
CAPITAL AREA SCHOOL EMPLOYEES FARM CREDIT SERVICES OF FLORID GERMAN AMERICAN CAPITAL CORPRA GMFS
JARL ENTERPRISES LLC NATIONAL UNITED
PERPETUAL FINANCIAL GROUP RED DOOR FUNDING
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AMERICAN FINANCIAL FUNDING COR ILLINOIS HOUSING DEVELOPMENT A KEY LENDING SOLUTIONS LLC PINNACLE FUNDING CORPORATION
SHARESTATES INVESTMENTS DACL L"
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AMERICAN FIRST LENDING CORP LCJ FINANCIAL GROUP INC
M I E FINANCIAL INC
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TCHFH LENDING INC VERISTONE FUND I LLC ASSOCIATED CU OF TEXAS COMMERCIAL LENDING LLC FARM CREDIT
HOME SERVICES LENDING LLC SUMMIT FUNDING
SWH FUNDING LLC
TOP WORLD INVESTMENT INC ARBOR REALTY SR INC
CDC SMALL BUSINESS FINANCE COR JAMESON REI GROUP LLC PREFERRED LENDING SERVICES LLC SG CAPITAL PARTNERS LLC
TRN FINANCIAL LLC
UNITED PREMIER FUNDING LLC CIVIC FINANCIAL SERVICES FEDERATED LENDING CORP PRIORITY LENDING
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WRIGHT PATMAN CONGRESSIONAL FC ARROWHEAD 89 LLC
LENDINGONE THE FIRST
ARROWHEAD CAPITAL CORPORATION EXCEL REALTY INC
GENEVA FINANCIAL
GREYSTONE SERVICING COMPANY LL HOMEOWNERS ADVANTAGE INTEGRITY FIRST FINANCIAL INC MUNICIPAL TRUST AND SAVINGS BA BCK CAPITAL INC"
"CROWD LENDING FUND DELAWARE PACIFIC KMS CAPITAL LLC
LENDLINK FINANCIAL INC
NEWPORT NEWS SHIPBUILDING EMPL NORTHWEST PASSAGE LLC
TRILION CAPITAL FUND LLC ANCHOR NATIONWIDE LOANS LLC COASTAL FUNDING SLC INC NTMR HOLDINGS INC
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BDS 44 LLC
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LARABY FINANCIAL GROUP INC MAUCH CHUNK TRUST COMPANY PREFERRED LENDING SOLUTIONS LL PRYSMA LENDING GROUP LLC
SCF JAKE LP
UNIVERSITY OF ILLINOIS COMMUNI ACTIVE FUNDING GROUP LLC EASY FINANCIAL LLC
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FEDEX EMPLOYEES CREDIT ASSN FC
GRANDE HOMES INC"
"GREENVILLE FEDERAL
INB NATIONAL ASSOCIATION LM2 INVESTMENT GROUP LLC
LUTHERAN CHURCH EXTENSION FUND PROVISOR INC
WELCOME HOME FINANCE LP BEST FINANCE CAPITAL INC
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ZINCE FINANCIAL INC
BENWORTH CAPITAL PARTNERS LLC CHOICE LENDING CORP
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ARCUS LENDING INC BROADVIEW CAPITAL LLC CROSS COUNTRY LENDERS LLC
FIRST FEDERAL SAVINGS & LOAN B INLAND CAPITAL FUND LLC SECURED INVESTMENT HIGH YIELD
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ELITE FINANCIAL GROUP LLC NATIONS RELIABLE LENDING PAVIA FINANCIAL SERVICES INC PIMLICO GROUP LLC RESIDENTIAL CAPITAL
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ANGLIA FINANCIAL LLC JACK LEVKOVITZ
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COAST 2 COAST FUNDING GROUP IN FAIRWAY ASSET CORPORATION FAIRWAY LENDING LLC
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JAG ENTERPRISES LLC LOAN DEPOT
MI FINANCIAL LLC
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THE SOCOTRA FUND LLC TOPLETZ INVESTMENTS
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EAST LAREDO HOME PLACE LTD EUDRUP INC
FRANK WEST CAPITAL LLC GIANT REALTY INCORPORATED GOLDEN STAR INC HOMESERVICES FINANCIAL LLC LANTZMAN MANAGEMENT INC LONGBRIDGE FINANCIAL LLC
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SIWELL INC
THE INDUSTRIAL DEVELOPMENT AUT USA RURAL HOUSING
AB&T
ARIXA FUND I LLC DNB FIRST NA FOUNTAIN TRUST CO
LANGSTON PROPERTIES LLC LENDINGHOME FUNDING CORPORATIO NATIONS LENDING CORPORATION NETWORK FUNDING
PAJ ENTERPRISES LLC
PANTHEON CAPITAL ADVISORS INC"
"quickly, what's the least amount you will accept?” No matter what his response, follow up with “Is that the best you can do.”
--- Be aware that seller can experience a number of bipolar mood swings. Just remain calm and accepting. Refuse to be
intimidated."
"--- Don't make your highest offer your first offer. You have left yourself no wiggle room.
--- Name a range, not an exact figure.
--- You make an offer and seller responds: “No way will I accept that amount. I want at least
$60,000.” You have gotten seller to name a price."
"--- Houses with recent price reductions indicate motivated sellers.
--- Suggest a figure that is not a round figure. Makes your offer sound more legitimate, like maybe you know something seller doesn't know.
--- Do not give seller more than 24 hours to accept your offer.
That way, he won't have much time to “shop” your offer."
"--- Use a “partner” as the one who could not live with seller's price. It's not your fault, so seller cannot take it out on you.
--- Know the true condition of the house, in order to estimate needed repairs.
--- Use this formula: after repair value(ARV x .70% minus
repairs minus your fee = the"
"price you want to offer). Begin somewhere below that figure.
--- Find out from neighbors if there have been repairmen in and out prior to the house being put up for sale.
--- Ask for something in the house you don't really want. This can take seller's mind off the price you are offering. You can negotiate these items away
later as concessions."
"--- Never, never put down the seller.
--- Avoid confrontational language that can end the negotiations.
--- Never put down the house. Admit that it needs work.
--- Some buyers suggest that, if you are not embarrassed by"
"your offer, it is too high. I say, as long as your offer fits the formula above(ARV), embarrassement is not necessary.
--- Scared of facing a seller? Consider taking a more confident person with you.
Learn from them.
--- If a deal isn't going to work, be ready to walk away.
Remember though, sometimes"
"seller will offer a vehement NO!, then call a few days later to say YES!"
"Tip #7: Qualify Potential Buyers With These Questions
Once you start wholesaling properties, you want things to go smoothly and quickly. One of the ways to make things go smoothly is to have potential buyers already lined up before you start hunting for house sellers. That way, once you have a contract with a seller, there is no need to scramble to
find an appropriate buyer."
"You've done your homework ahead of time.
In order to create the strongest list, you must qualify buyers.
Qualifying helps you determine exactly whom to contact when you have contract in hand.
Some questions to ask potential buyers:"
"Are you a cash buyer? Cash buyers make the wholesaling process advance faster. No need to THINK you have a deal, only to have it fall apart because of a lack of financing.
Do you have financing in place? The next best thing to a cash buyer is someone who has financing in place (approval via a letter of credit, etc.) Again, saving time and getting your
money to you faster."
"Do you have a banking relationship that can result in quick cash? A potential buyer might answer that by saying that he has no problem getting loans, because he has done so many times before with X bank.
How quickly can you close? Of course, you want your money sooner rather than later. Also, some deals may set up a
time pressure. Better to go with"
"a buyer who can respond quickly.
Have you done any wholesaling deals before? Extremely important.
Experienced investors know how the game is played and know how to deal with roadblocks that inevitably pop up."
"When you are starting out, you want someone who can oil the process so things go smoothly.
What is your buying criteria? What kind of deals is buyer interested in? Rehab situations? Only in certain neighborhoods? A certain percentage of equity in the house?
What is your exit strategy? Lease option? Retail to end user?"
"An important issue is whether or not you feel you can work with a given buyer. Or is his or her manner such that you think working together will be difficult? You don't need agony. You need someone who is willing to make money without conflict.
By the way, do not be afraid to ask these questions. They are
necessary for your success. An"
"experienced buyer who is interested in making money will be all too willing to answer them.
So...how to categorize potential buyers? Perhaps first call those who are willing to pay cash or has funding in place vs those who will seek funding after you
present a deal."
"Or...categorize by the TYPE of deal they want. A rehab? War zone property, etc.
Or...percent of equity they prefer in a deal.
Besides the usual contact information, be sure to get email addresses for all buyers. That way, you can e-blast a number of them with the punch of a button, rather than having
to contact each one"
"individually. Categorize first, then email blast.
Create a written checklist to gather this information. Do not count on your memory. In the excitement of possibly completing a deal, you can forget things.
Tip #8: Zero In On Motivated Sellers"
"When wholesaling houses, you want to focus your efforts on motivated sellers. This is true especially if you are just starting out. While wholesaling is the quickest way to fast cash, dealing with motivated sellers makes the process go even faster. Which means cash in your pocket sooner rather than later.
Motivated sellers are people who MUST sell their homes."
"So...what motivates a seller to have to sell his home? Financial distress for one. Maybe he is behind on payments. Maybe he is facing foreclosure. Maybe even bankruptcy. Maybe he is facing a huge medical bill. Or a divorce settlement is looming on the horizon.
Positive reasons can force the need for a quick sale. A job relocation and not wanting to
deal with a vacant house, let"
"alone rent it out and have the value plunge. Getting married and having no need for two houses.
You may think you are taking advantage of these homeowners. Actually, you are doing them a favor. Think what happens if the homeowner does not make the sale. He could be foreclosed upon, or worse, forced into bankruptcy. Or an
empty house could be destroyed"
"by vandals. Renters could wreak havoc on the value of the house.
It's easy to see, then, that these sellers need you. You are, in fact, a savior of sorts.
O.K. Now how do you find these motivated sellers? Some
tips:"
"1. Build a website, or have one built for you, announcing that you buy houses. Not a techie? Then have someone from www.elance.com build one for you.
2) Run classified ads in your local newspaper. Place your classifieds in dailies, weeklies, even free newspapers. Hint: advertorials(looks like editorial copy; reads like an ad; purports
to educate but is really an ad)"
"3) Set up bandit signs, those little signs on stakes and phone poles, announcing that you buy houses for cash, fast. Warning: Don't get carried away creating these until you find out they are legal in your area. If they are not, you can always place them after 5P.M. Friday evening through Sunday evening, because the sign police are not
out and about then."
"4) Put signs on your car. You are now a rolling billboard. You'd be surprised how many people will approach you when you are parked somewhere.
5) A bit more expensive, but take out a Yellow Pages ad. Hint: Use the advertorial approach to stand out from
competitors."
"PARK COMM CR UN
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LAKE RIDGE RANCH LP LIME ONE CAPITAL LLC LOAN PARTNERS LLC LOANVERSE
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UNITED FIDELITY FUND CORP VELOCITY COMMERICAL CAPITAL LL VILLA NOVA PRESERVATION JV LLC VISIO FINANCIAL SERVICES WHOLESALE WEST LENDING INC
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AMF HOLDINGS LLC ARBOR REALTY SENIOR ARVIN SCOTT
ATHENE ANNUTY AND LIFE COMPNAY AURORA NATIONAL LIFE ASSURANCE BARNETT REI FINANCE 1 LLC
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CADENCE LENDING GROUP CALCAP LENDING LLC CARDINAL CU INC CEASONS HOLDINGS LLC CLASSIC HOME
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JESUDA CONSTRUCTION LLC JOHN ALEXANDER
JOSEPH E KENNEDY LADYSMITH FEDERAL S & L
LANCASTER HOUSING OPPORTUNITY LELAND STANFORD JUNIOR UNIVERS LOAN GALLERY INC
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"PATE & HELBLING LLC PATRIOT LENDING SERVICES PAUL YANG & CO INC
PCG SEVILLA ESTATES LP PENNYLANE FUNDING
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RENTAL READY FUNDING LLC REPROP INVESTMENTS INC SECOND EDITION LLC SECURE CAPITAL GROUP LLC SILVERSTONE EQUITIES LLC SORTIS FINANCIAL INC
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CAPITAL ACCESS GROUP INC CARSTENSZ FUND I LLC CETAN FUNDS LLC
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DYNASTY CUSTOM HOMES INC ELGY ENTERPRISES LLC
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EVERGREEN BUSINESS CAPITAL FIRST CHOICE AMERICA COMMUNITY FIRST FRANKLIN REALTY INC
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HOUSING TRUST SILICON VALLEY INNOVATIVE FINANCIAL SOLUTIONS INVEST 1 KC LLC
JAMES R BASS JENNIFER BILLINGS LARRY TANDOI LENDA INC
LEONARD H MARKS IRA LIBRA ENTERPRISES LLC LIMETREE LENDING INC MAKO INTERNATIONAL LLC
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OVM FINANCIAL PREMIER LENDING
PRIMETRUST FINANCIAL FEDERAL PROBUILDER FINANCIAL LLC QUAKER CAPITAL PARTNERS LLC RAIN CITY CAPITAL OF OREGON LL REFRESH FUNDING LLC
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WHITE OAK HEALTHCARE FINANCE L WILLIAM E ADCOCK JR
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M & M PRIVATE LENDING GROUP LL MARION COMMUNITY CU INC MEMBERS TRUST OF THE SOUTHWEST NATIONAL HOMEBUYERS FUND INC NEAL L HORN
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GUARANTED RATE AFFINITY LLC HANK W WILSON
HAYMARKET INS CO HEIDI SCHAAFSMAN HIGH TECHLENDING INC HOMESIGHT
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PFG FUND II LLC PGSBRVB LLC
PINE INVESTMENTS LLC PREMIUM FUNDING PRILEND FUNDING LLC PRIME CHOICE FUNDING PRIMESOURCE FUNDING
PRINCIPAL LENDERS GROUP INC PRIVATE BUSINESS CAPITAL PRIVATE LENDING LLC
PS BUSINESS PARKS LP PULASKI SLA
Q LENDING INC
QSQ FINANCIAL CORPORATION QUEST TRUST COMPANY FBO RAUL A NOVALES
REAL CONSULTANTS
RED LODGE CAPITAL II LLC REDBRIDGE CAPITAL LLC REDEVELOPMENT AUTHORITY OF THE REHAB FINANCIAL GROUP REVOCABLE LIVING TRUST AGREEME"
"RFC FIELDS LLC
RHMC FINANCIAL CORP RIGHT LEFT 401K
RLB & PAB LLC ROBERT A SACKS ETAL
ROBERT A SANGUILY ETAL RODENBURG IRA LLC ROGER L BRIGHT ETAL ROLLA BOYS LLC
ROSENBLIT ENTERPRISE LLC RUVINSKIY DANIIL
SAMPSON 852 LLC
SCHRITTER FAMILY REVOCABLE TRU SECURE ONE CAPITAL CORPORATION SECURED INVESTMENT FUNDING LLC SG CAPITAL PARTNERS
SHANNAHAN MD RENTALS LLC SHARAFL LLC
SHARESTATES INVESTYMENTS LLC SHARPVIEW CAPITAL LLC
SIGN ON THE LINE INC SIGNATURE LENDING LLC SIMPLE QUARTERS LLC
SMALL BUSINESS GROWTH CORP SNOWFLAKE LP
SO CAL CDC
SOUTH HOUSTON HOLDINGS LLC SOUTH PACIFIC FINANCE SOUTHWEST STATE FUNDING LLC SOVEREIGN LENDING GROUP INCORP SPT CA FUNDINGS 2 LLC
STARFISH FOUNDATION STORMFIELD CAPITAL FUNDING LLC SUPERIOR LENDING ASSOCIATES LL SUSQUEHANNA LENDING GROUP INC
SYRACUSE FIRE DEPARTMENT FEDER TEXAS QUEST FUNDING TRUST 712 THE ARNOLD FISHMAN REVOCABLE T THE BERSON GROUP LLC
THE COMMUNITY CU OF SOUTHERN H THE DUGAN FAMILY IRREVOCABLE I
THE ENSIGN GROUP INC"
"THE LENDING GROUP COMPANY INC TIGE JASON DEVIBISS ETUX
TIGEN FINANCIAL INC TIPS LEASING LLC
TOP LEADING FINANCIAL INC TOTAL MEDIA MANAGEMENT LLC TRAVIS STREET CAPITAL INC TRELLIS
TRUST OF SELWYN L LEVY TVC FUNDING 2 LLC
TWIN PEAKS TWO LTD
UNIVERSITY OF VIRGINIA COMMUNI UPTON CAPITAL LLC
US HOME CAPITAL LLC UTTERBACK LENDING LLC VERNON MEGEE LIVING TRUST VILLA DE MEDIA LUNA LTD VISTA HC LTD
WADOT CAPITAL INC WATERMARK CAPITAL WESSEX 504 CORPORATION WEST BAY CAPITAL LLC
WEST MICHIGAN PRIVATE CAPITAL WEST VIRGINIA HOUSING DEV WILLIAM N RUFFING
WISE FUNDING SOLUTIONS LLC WJR PROPERTIES LLC
YALE UNIVERSITY ZEUSLENDING COM 0R STRIKE
21ST CENTURY FINANCIAL INC
3ZENOUGH LLC
4 POINT CAPITAL GROUP LLC
738-748 109TH AVE N LLC A N FINANCE
AAA CAPITAL INVESTMENTS INC AAKO INC
AB COMMERCIAL REAL ESTATE DEBT AB COMMUNITY INVESTMENT COMPAN ABILITY INSURANCE CO
ABL 1 LLC
ABL 3 LLC"
"ACCESS CAPITAL FUNDING ACS CAPITAL LLC
AFFORDABLE HOUSING ASSISTANCE AIR NOTE LLC
AJ PARTNERS LENDING LLC ALLSTATE LENDING GROUP INC AMERICAN FINANCIAL NETWORK AMWEST FINANCIAL INC ANDREOTTOLA FAMILY
ANGLE FUND INC
ANY FUTURE HOLDER
ARNOLDO SALINAS CAZARES ETAL ARROWHEAD MP LLC
ASA INVESTMENT LLC ASHER CAPITAL LLC
ASSURITY FINANCIAL SERVICES LL ATAB 6 LLC
ATHAS CAPITAL GROUP, INC. ATHENE ANNUITY AND LIFE
AVOUE MARCHAND INVESTMENTS INC BALLEY & WOOD FINANCIAL GROUP BALTIMORE COUNTY
BARBARA M KINGSTON
BAY AREA EMPLOYMENT DEVELOPMEN BCP LOAN PARTNERS LLC BEARDSTOWN SAVINGS SB
BELCORP FINANCIAL SERVICES INC BELIEVE INVESTMENTS LLC BELLEVUE FUNDING LLC
BELUGA INVESTMENT LLC BIENES INMUEBLES LLC BLACKLEY LLC
BLATT KINERET BLUEBIRD LENDING I LLC BP REAL ESTATE LLC BRADFORD N EMMER
BRANDON PAUL KOONSMAN TRUST BRC COMMERCIAL BRIDGE FUND LLC BRETT BARBISCH
BRIAN J FRANK
BRIDGE CAPITAL RESOURCES LLC BRIDGING FINANCE INC"
"BRIRY LLC
BTAC HOLDINGS LLC
CALCULATED RISK ANALYSTICS LLC CALIBER HOME
CALIFORNIA HOME SOLUTION INC CALM FAMILY INVESTMENTS LLC CAMA SDIRA LLC
CANDELARIA FINANCIAL SERVICES CANELO INVESTMENTS LLC
CANTOR COMMERCIAL REAL ESTATE CANTOR FITZGERALD SECURITIES CAPITAL FOR CHANGE INC
CAPITAL FOR REAL ESTATE CAPITAL FUNDING FINANCIAL CAPITAL ONE MULTIFAMILY FINANC CARDINAL LOTS LTD
CARUSO BUILDER WOODBURN ESTATE CASON PRIVATE CAPITAL LLC
CEN CAL BUSINESS FINANCE GROUP CENTRAL TEXAS FUNDING LLC CHARLES F ROHRER TRUST CHRISTOPHER A SAMUEL CHRISTOPHER J GARMSTON ETAL CHURCH EXTENSION PLAN
CJ TAYLOR & TAYLOR LLC CLEAN SLATE PROPERTIES LLC
CLIFFCO, INC. DBA CLIFFCO MORT CMG CAPITAL
COAST EQUITY GROUP INC COASTAL REALTY CAPITAL LLC COLEMAN PROPERTIES INC COLOSSAE CAPITAL CORP COLUMBUS HOUSING INITIATIVE COMMONWEALTH CAPITAL LLC
COMMUNITY DEVELOPMENT ADMINSTR COMMUNITY HOUSING PARTNERS COR CONSTRUCTION LOANS LLC CONTINENTAL INVESTMENTS LLC COREVEST AMERICAN FINANCL LEND CORPORATION
COUNTY OF DAUPHIN BOARD OF COM
COVENTUS LLC"
"CURTIS W STEELE AND CATHERINE CWI INVESTOR HOLDINGS TWO LLC CWREF LLC
DAC RETAIL
DACM PROJECT MANAGEMENT INC DALESON LLC
DAN AND DAWN SALLE LIVING TRUS DANNY GARLAND
DEL REY ESTATES LP DEL SUR CORP
DESERT EQUITY GROUP INC DEW CLAW LLC
DEW REAL ESTATE INVESTMENTS LL DG & GG INVESTMENTS LLC
DHA FINANCIAL
DIAMOND ROCK FINANCIAL LLC DIRTPEDDLER LLC
DK PROPERTY MANAGEMENT & ASSOC DNP GENERAL LLC
DONNA MARIE MARTIN IRA DOUGLAS ROOSSIEN
DPB ENTERPRISES LLC DUXBURY CAPITAL SERVICES INC DY INTERST INVESTMENT DYNAMIC FUNDING SOLUTIONS EAGLE HOME MORTGAE EASTERN CAPITAL GROUP LLC EL TORO BUILDERS INC EMERALD CAPITAL 2 ENDURANCE CAPITAL 1 LLC
EQUABLE INVESTMENT CORPORATION EROICA ENTERPRISES INC
ESPOSITO CAPITAL LLC
FAIRFAX COUNTY REDEVELOPMENT A FAIRVIEW SLA
FALCON CAPITAL LLC
FARM CREDIT OF NEW MEXICO ACA FARM CREDIT OF THE VIRGINIAS F FARM CREDIT SERVICES ILLINOIS FINANCE AMERICA CORPORATION FINANCIAL DYNAMICS INC FINANCIAL GROUP INC"
"FIRST PLATINUM CAPITAL CORP FMC T D INVESTMENTS LLC
FORT FLIPPING INVESTMENTS LLC FORT KNOX FED CR UN
FORT WORTH AREA HABITAT FOR HU FRENKEL LAS VEGAS INVESTMENTS FUNDING NY LLC
G & M FAMILY LIMITED PARTNERSH G & S HOMES LTD
GA ONE PROPERTIES LLC GALAXY LENDING CORP GANGA LLC
GAP ENTERPRISES LLC GARY CRUCIANI
GARY E CULVER
GENESIS LA ECONOMIC GROWTH COR GIGI INVESTMENTS INC
GKC INTERNATIONAL INC GLEN LOMA CORPORATION
GLOBAL INTEGRITY SERIES 1 LLC GOLDEN BRIDGE FUNDING, LLC GRACES PROPERTY INVESTMENT LLC GREAT RIVERS COMMUNITY CAPITAL GREATER NEVEDA LLC
GREATWALL INCO
GREYSTONE SERVICING CORP INC GRISE HOME & PROPERTY GROUP GROVEWOOD PROPERTIES LLC GUARANTEED RATE AEFINITY LLC GUARANTEED RATE AFFINTIY LLC GUARANTY HOME EQUITY
GULF ATLANTIC FUNDING GROUP IN H S FINANCIAL LLC
H2ML LLC
HABITAT FOR HUMANITY OF SAN AN HARTFORD FIRE INSURANCE COMPAN HFG HOLDINGS LLC
HGM INVESTMENTS LLC HOLLIDAY FENOGLIO FOWLER HOLLIDAY FENOGLIO FOWLER L P HOMES FOR ARUNDEL INC
HOMESTAR FNCL CORP"
"HOUSING HOPE
HOUSING PARTNERSHIP INC HTR MANAGEMENT LLC
I FUND PHILLY LLC
INDICATE CAPITAL FUND I LLC INTEGRITY FINANCIAL SERVICES O INVESTORS CHOICE FUNDING INC IRA SERVICES TRUST CO
JAMES D POHLMAN ETAL JEBSEN FUNDING INC JEFF BARNES ETAL JEFFREY K FISHER JEFFREY S RODMAN JEHN CAPITAL
JERRY A AYSCUE JR JOGIKA LLC
JOHN B MCWILLIAMS ETUX JOHN D WEIBLE
JOHN MERRILL INVESTMENTS INC JONES REVOCABLE TRUST JOYCE GEHRINGER
JUDY H PHILLIPS ETAL K PACIFIC GROUP
K&L BAXTER FAMILY LP KALOS PROPERTIES LLC KATS, RUDOLF
KAUNAS REALTY LLC KC CAPITAL LLC
KENJOHNY COMPANY LLC KICKEMUIT RIVER CAP KRKABOB INCORPORATED
L BAR FAMILY MANAGEMENT LLC LA JOLLA GROUP II MANAGEMENT I LAFE MICHAEL MUNAL
LANDMARK CU OF NEW BERLIN LCWC ELECTIVE DEFERRAL PLAN LENDING ONE LLC
LEXUS FINANCIAL CONSUMER SOLUT LF FLANDERS LLC
LINCOLN CAPITAL ADVISORS LLC LL0YD E TRIMBLE JR
LOAN AMERICA INC"
"LOANSUM LLC
LOON ISLAND CAPITAL LORI A LEVINE ETAL
LOU ANNE ZIMMERMAN REVOCABLE T LYNK INVESTMENTS
M&M CAPITAL INVESTORS LLC MABEL CHUNG CHU LIVING TRUST MACOY CAPITAL PARTNERS INC MAGENTA HOLDINGS LLC MANHATTAN FINANCIAL GROUP INC MARCY OWENS TEST
MARK S ROBINSON MARY L HOWELL MASON ARTS LLC
MATHON INVESTMENTS CORPORATION MAZYAR YAGHOUBIAN
MD PRIVATE LENDER LLC MERRILL LYNCH CR CORP MICHIGAN SCHOOLS
MID SOUTH HOMEBUYERS GP MIDWEST MINNESOTA COMMUNITY DE MJ REAL PROPERTIES INC
MOFIN LENDING MONTERO LLC
MORGAN STANLEY ASSET FUNDING I MORIA DEVLOPMENT INC
MSF FINANCIAL LLC MULBERRY PROPERTIES LLC MYRNA L BAND
N 2 DEEP INC
NATIONAL LENDING GROUP NBH CAPITAL LLC
NEIGHBORHOOD ASSISTANCE CORP NEIGHBORHOOD PARTNERS INC NEIL R & CAROL A ANENBERG FAMI
NEW PENN COMMUNITY LENDING LLC NEW SANTA FE LTD
NEW YORK CITY HOUSING DEVELOPM NONE AVAILABLE
NORMAN T ADAMS JR NORTHMARQ CAPITAL LLC
NULINE FUNDING INC"
"OCONEE FEDERAL SAVINGS AND LOA OCRE INVESTMENT FUND 1 LLC OLMSTED CAPITAL LLC
ONY GLO
OPTIMUS HOLDINGS LLC ORANGE B&T CO
P E FUNDING LLC
PACIFIC POINT REALTY FUND LLC PATE FINANCIAL LLC
PATRICIA HENDERSON PATRIOT LENDING PBFV HOLDINGS LLC
PEBBLE HILLS PLAZA II LTD PETER F THOMPSON PHILIP EWING
PIONEER TITLE AGENCY INC PIVOT LENDING GROUP
PLA SERVICES INC PRESWICK CORP
PRIVATE CAPITAL FUNDING CO LLC PROGRESSUS LLC
QUANTA FINANCIAL LLC QUICKER LOANS INC
R A MOORE
R A SZYMCZAK PROPERTIES LLC RALPH VICTOR MALPHURS
RCB FUNDING LLC
REALTY INVESTMENT GROUP INC REDWING INVESTMENTS LLC RESIDENTIAL HOME FUNDING CORPO RICHARD L NORRIS
RICHARD STRAIGHT RIGHT LEFT LTD
RLD MANAGEMENT LLC RMM PRIVATE CAPITAL LLC
ROADRUNNER FINANCING LLC ROBERT F KLEIN
ROBERT N WILKINSON JR MONEY PU ROGER GARDNER
RSMJ INVESTMENTS LLC
SAGE GROVE INVESTMENTS LLC SAISON FUNDEX CORPORATION"
"SALEM FIVE CENTS MT SANDBOX INVESTMENTS LLC SANDOVAL DEVELOPMENT LP SANDS CAPITAL LLC
SCOTT BOCHES SERVICE DRYWALL
SHARESTATES INTERCAP LINE, LLC SHARESTATES PM LINE, LLC SHARON WAITE
SHEERIN DEVELOPMENT LTD SILVER HEIGHTS DEV LLC SJDDIQUI SUDZ INC
SL LENDING FUND II SM FINANCE II LLC SPRING EQ LLC
STATED INCOME GROUP LLC STELLAR LOANS LLC STEPHEN SEGUNDO STONINGTON CAPITAL
STRATEGIC EQUITY SOLUTIONS LLC SUNWEST TRUST INC
T 2 FINANCIAL LLC T Y FUNDING LLC T&H VENTURES LLC
TAM LENDING CTR INC
TC DEBT OPPORTUNITIES LLC TEACHERS INSURANCE AND ANNUITY TEXAS DEPARTMENT OF HOUSING CO THE 2006 SPRINGER FAMILY TRUST THE 2006 ZIMMER FAMILY TRUST
THE ALLIANCE DEVELOPMENT FUND THE LENDING GROUP INC
THE LOAN STORE LLC
THE R NEWTON RILEY AND JOYCE I THOMAS G CRUM
THOMAS LENDING LLC
TIERRA DEL SOL HOUSING CORP TIERRA GROUP LLC
TRAN REAL ESTATE INVESTMENT TRI CAPITAL EQUITIES LLC TRIUMPH CAPITAL PRANTERS LLC
ULTRA SERVICES INC"
"VALLEY REAL ESTATE INVESTMENTS VECINO PROPERTIES LTD
VERITY CAPITAL GROUP LLC VETERANS HOME PURCHASE VICTOR SHER ETUX
VILLA DEL SOL SWEET CHERRY FAR VILLAGE CAPITAL
VIPUL SHAH WALTER C WATSON
WARWICK CASTLE LLC WASHINGTON AND LEE UNIVERSITY WCP FUND LLC
WEST COAST FUNDING AND REAL ES WESTERN AGCREDIT FLCA WISCONSIN HOUSING AND ECONOMIC WORTHWHILE INVESTMENTS
WRIGHT PARTMAN CONGRESSIONAL F YUNICORN LENDING INC
ZILLOW HOMES LOANS LLC 2007 TATE FAMILY LLC
3 DOOR PROPERTIES LLC
4TH STREET FUNDING LLC
5 ARCH FUNDING
A DOUGLAS PARRAN JR ETAL AAXY LLCO
AB COMMUNITY INVESTMENT CO ACADEMY CONSTRUCTION LENDING L ACC GROUP INC
ACV INVESTMENTS LLC ADAM T ALOISI ADOLPH PRUNEDA
ADVANTAGE IRA ADMINISTRATION AFFORDABLE HOUSING RESOURCES I AGH COMMERCIAL FINANCE INCORPO AHDOOT, HOOSHANG
AHML LLC
AIC INCOME FUND LP AIRHAH ENTERPRISES LLC ALBERTO G MANRARA ALDERWOOD VENTURES LP ALEXANDER G WISH TRUST ALLAN STRELEC"
"ALLIED FUNDING MN LLC
ALPHA LOAN SERVICING LIMITED L ALPHONSE DEVIVO
AMERICAN AGCREDIT PCA AMERICAN FIN NETWORK INC AMERICAN FINANCING AMERICAN FINANCING CO AMOS FINANCIAL
ANA LITOFSKY ETAL ANDRE M JONES ANDREW P THIERRY ANNE N DODGE
APEX COMMERCIAL CAPITAL CORP ARBOR AGENCY LENDING, LLC ARC 1 CAPITAL LP
ARCH FUNDING CORP
ARLENE ANNUITY AND LIFE COMPAN ARMORY PARK HISTORIC HOLDINGS ASKIN OTIS FRANKLIN JR
ASPEN EQUITY FUND LLC ASSURAFIRST FINANCIAL CO ATAB 3 LLC
ATHENE ANNUITY ANS LIFE CO AURORA FINANCIAL
AVI ENTERPRICES LLC AX CAPITAL LLC
BALTIMORE COMMUNITY LENDING IN BARBARA PERLMAN
BAYCAL CAPITAL SERVICES INC BAYVIEW LOAN SERVICING LLC BCT CAPITAL LLC
BEASLEY JOHNSON HOLDINGS INC BENEFICIARY
BENEFIT STREET PARTNERS REALTY BETH A ADAMS
BLANSKE VENTURES
BLUE CACTUS PROPERTIES LLC BOB VINCENT
BOGOTA SB
BOHICKET HOLDINGS LLC
BOWERS CUSTOM HOME IMPROVEMENT BP RESIDENTIAL LLC"
"BPLMP3 LLC
BRAINERD SAVINGS & LOAN ASSN BRANON DEVELOPMENT LLC BRELF II LLC
BROKER SOLUTION
BROOKVILLE BUILDING & SAVINGS BROWN, JASON S
BROWNING JEFFERSON M BRYAN REITZ ETUX BUDWICK PROPERTIES BUILDMEASON LLC
C C A N FINANCIAL INC C PHILIP BROLLIER
CALIFORNIA CONSUMER LENDING CAO X TRAN
CAPITAL LENDING GROUP INC CAPSTONE FUND LLC CAROLYN PROPERTIES LLC
CARSTENSZ CAPITAL PARTNERS LLC CAY K LLC
CBRE LOAN SERVICES INC CDW ENTERPRISES INC
CENTERSTONE SBA LENDING INC CENTEX CASAS LLC
CENTEX SANTA FE ESTATES LP CHAMBERLAIN AARON CHANGFA YANG
CHAPMAN PAUL L CHARLES W WILLIAMS CHESCO RE HOLDINGS LLC CHRIS MEARDI PC CHURCHILL FUNDING I LLC CITY OF COLUMBIA
CITY OF LIVERMORE CITY OF OSHKOSH
CJP FAMILY LIMITED PARTNERSHIP CK CAPITAL LLC
CLAYTON HC INC CLEARINGHOUSE DCFI CLIC FINANCIAL LTD
CLOSINGMARK HOMES LOANS INC
COASTAL LUXURY CONSTRUCTION LL"
"COATS & CO INC
COLE & CO OF AIKEN LLC COLONIAL CAPITAL LLC COLONIAL IMPACT FUND II LLC
COMMONWEALTH OF PENNSYLVANIA COMPANY CALIFORNIA CONSTRUCTION FINANCE CO LLC CONSUMER REAL ESTATE
CORDOVA LIVING TRUST
CORE VEST AMERICAN FINANCE LEN CORNERSTONE CAPITAL LLC CORPORATE AMERICA FAMILY CREDI COUNTRYWIDE FUNDING CORP COUNTY OF BUCKS
COUNTY OF PASCO CRAIG KORNREICH ETAL CRE & LAND LLC CREATE ESTATE LLC CREF LLC
CROSSROADS SMALL BUSINESS SOLU CROSSWIND VENTURE FUND LP
CU AMERICA FINANCIAL SERVICES CU AMERICAN FINANCIAL SVCS INC CUTTER HILL CAPITAL LLC
CYPHIE LLC
CYPRESS BRANCH PROPERTIES LLC D REALTY INVESTMENTS INC DANETT LLC
DANNY NGUYEN
DBA POWER EXPRESS
DELAROSA ASSET MANAGEMENT LLC DELAWARE LIMITED LIABILITY COM DELCO PROPERTY GROUP LP DEPARTMENT OF HOUSING & COMMUN DEPOT HILL LLC
DFLC INC
DISTINCTIVE CAPITAL LLC DITMAS PARK CAPITAL LP DOBSON PROPERTIES DONALD S YOUNG ETUX DONMAC INVESTMENTS LLC DONNA BLAIN"
"DOUGLAS G DRAPER LIVING TRUST DREAM LIVING SERVICE INC
DS PARTNERSHIP
E F REAL ESTATE HOLDINGS LLC EDDORAN PARTNERSHIP LTD EMPIRE FINANCIAL
EMPYREAN FUNDING AND MANAGEMEN EP SMART MONEY LLC
EQUITY RESOURCES ERETZ FINANCIAL LLC ERIC PLATERO
ERIC ROSEN
ERNEST AND MARJORIE NOLTE FAMI EUGENE H BOULIGNY
EXCEL FINANCIAL CORP EXCELSIOR CAPITAL SUB V LLC EXCELSIOR VILLAGE I LLC
F & B ACQUISTITION GROUP LLC F & N ENTERPRISES LLC
FAHMI ALSUMERI
FAIRMOUNT WEST DEVELOPMENT COM FARM CREDIT SOUTHEAST MISSOUR FARMERS ACCEPTANCE LLC
FARMERS INSURANCE GROUP FEDERA FEDEX EMPLOYEES CREDIT ASSOCIA FIDELITY FUNDING CO INC
FIMI INC
FINANCE FREEDOM SR FNDNG FINANCIAL & MARKETING SOLUTION FINANCIAL CONCEPTS LLC FINANCIAL SERVICES
FINANCIAL SERVICES LTD FINANCIAL TRUST
FIRST CLASS FUNDING
FIRST FED SAVS & LOAN ASSOC-CA FIRST FRANKLIN FINANCIAL
FIRST OAKLAND PROPERTIES LLC FLIP THAT INVESTMENT LLC FLORIDA BUSINESS DEVELOPMENT FLUX FUND ONE LLC
FOOTHILLS CAPITAL LLC
FORTUNE GROUP INC"
"FOUNDATION CAPITAL RESOURCES I FPMC REALTY LC
FREIHEIT CAPITAL LLC FRONTIER FNCL INC FUTUREGEN LLC
G & S INVESTMENTS OF BREVARD L G A FUNDING COMPANY INC
GARY L BLACKWELL TRUST GAUNTLET FUNDING LLC GDP PROPERTIES LLC
GENERAL CONFERENCE CORPORATION GEORGE J KEFALOS
GERALD K ELMER ETUX GERALD P SMITH
GIRASOL DEVELOPMENT GROUP LLC GJM HOLDINGS LLC
GMA HARD MONEY LLC GMB 401K TRUST
GMB PROPERTIES LLC GOOD FUNDS LLC
GP CAPITAL LLC
GR MAC PROPERTIES LLC
GRACE MISSIONARY BAPTIST CHURC GRANDE HOME INC
GRC 2019 LEHIGH VALLEY LLC GREATER NEVADA
GREEN LIGHT FUNDING INC GREENBACK FUNDING INC GREENBOX LOANS GREENBRIAR LENDING LLC GREGORY AYERS ETAL GUARANTEE RATE INC
GUARANTY FEDERAL FINANCIAL COR GULF STATES CAPITAL
GUSTA LTD
GYPSY BLOOD LLC
HABITAT FOR HUMANITY OF KANSAS HABITAT FOR HUMANITY ST LOUIS HAPPY LULU LLC
HEITMAN CREDIT ACQUISITION XII HIGH ROCK LLC
HILTON INVESTMENTS LLC"
"HIRAM CLARKE INVESTMENTS LLC HISD RE LLC
HL VENTURES LLC
HOBOKEN IMPROVEMENT CO HOHN H WILLMANN
HOLLAND DUTCH CAPITAL LLC HOLLYWOOD EL CENTRO LIMITED PA HOME FINANCE OF AMERICA INC HOME POINT FIN CORP
HOMESTAR FINCL CORP
HOMETOWN AMERICA INCORPORATED HOMEVESTORS INVESTMENT INC HOUSE TUR INVESTMENTS LLC HOWARD KENT INC
HP INVESTMENTS INC HS FINANCIAL LLC HUETTNER CAPITAL LLC ICG10 CAPITAL LLC IMAGE FINANCE LLC
INDEPENDENT BROKERS PROFESSION INDIAN RIVER COUNTY HABITAT FO INSIDERS CASH LLC
INVEST HOME PRO LLC INVESTMENTS ONE LLC INVESTORS FIRST CHOICE INVESTORS LENDING USA IROQUOISE FEDERAL S & L ASSN J & J CAPITAL REALTY ASSOCIATE J FRIEDMAN INC
JA FUNDING INC. JACKSON COUNTY JAMES A WHALEN IRA
JAMES B NUTTER AND COMPANY JAMES E ALM
JAMES K BAYER
JAMES T HAILSTONE ETAL JAYCO CAPITAL RESOURCES LLC JD ASSETS LLC
JDM FUNDING CORP
JEREMY PETERSON REAL ESTATE IN JERRY SUSTALA
JET FUNDING GROUP LLC"
"JIMMY CARNES JOE LUONG
JOHN BARCLAY MOORE JOHN GEIGLE
JOHN HORTON JOHN KETCHAM JOHN SAHAGIAN JOHNNY ORTA JOSEPH CUCIT ETAL
JOSEPH H SICA TRUST JOSEPH P FETZEK JOSEPH W BURNETT SR JOVITA K DE PASOL
JS LIME PROPERTIES LLC
JSA BUSINESS DEVELOPMENT LLC JUAN CARLOS TREJO ETAL
JULIO F EDWARDS
K PACIFIC GROUP INC KARINA ECHEVERRIA LLC KEITH J BARGA ETUX KENNETH PIERCE ETUX KENNETH R BONNEAU KEVIN A SAPP
KEVIN KIRKPATRICK
KKF SUPPLEMENTAL TRUST KRKABOB INC
KURT E CHANA
LAKESIDE CAPITAL HOLDINGS INC LAMB CAPITAL LLC
LARRY L MILLS
LE STATR ENTERPRISES LLC LENDERONE FINANCIAL CORPORATIO LENDING NOW
LENDING UNLIMITED LLC LENDTERRA INC
LEVI FAMILY PROPERTIES LLC LIBERTY HOME EQUITY
LILY M ANDREWS LINDSAY VILLAS
LINTON MANAGEMENT INC LIZ HANSEN
LOAN CABIN"
"LOAN ONE LONESTAR FLCA LONS LLC
LOSU LLC
LOUISIANA HOUSING CORP LOVE FUNDING CORP LUMUNU 2015 LLC
LYNN M HANCOCK ETUX LYZ CORP.
M&R CAPITAL FUNDING LLC
M360 COMMUNITY DEVELOPMENT FUN MACOMB FUNDING LLC
MADISON COUNTY (IL) MAGNOLIA LENDING LLC MAKE DEAL LENDING LLC MANUEL ANGEL MURILLO MARC VALANCEY MARKMAN HUMPHRIES INC MARTIN D COHEN
MARTINEZ LAKE RESORT PHASE I L MARY H JOHANSON
MASHANTUCKET PEQUOT TRIBAL NAT MASSACHUSETTS CORP
MAXICASE INC 401K PROFIT SHARI MCCALEB JOHN
MEMBERS CHOICE OF CENTRAL TEXA MEMNARCH LLC
MERVARDO CORPORATION MESA DEL NORTE LTD MGN FUNDING CORP
MICHAEL E & UN SIL PAYNE LIVIN MICHEL INVESTMENTS LLC MICHIGAN STATE HSNG MIDATLANTIC IRA LLC
MIKE SCHULTZ INC MIL NEVADA INC
MINER CAPITAL FUNDING MISSISSIPPI HOME CORPORATION MISTER COOPER
MITA SECURITIES CO LTD MITCHELL S PISIK
MND HOLDINGS LLC"
"MOAKAKA INVESTMENTS LLC MONCOR INC
MOUNTAIN STATES HOME MRD PROFIT SHARING TRUST MREMINGTON LLC
MSK FOX VALLEY LLC
MUCKLESHOOT HOUSING AUTHORITY MYPRIMEHOMELOAN COM LLC
N.H PARTNERS G.P NANCY E JONES NATIONWIDE NAVESINK RAI LLC
NCF SMALL BUSINESS LOAN FUND I NED STEVENS INC
NIGHTINGALE PARTNERS LLP NINA HOROWITZ IRA NORTCO INC
NORTHERN TRUST CO NPI DEBT FUND I LP
OAKMONT NOTE GROUP LLC OC CAPITAL HOMES INC OCEAN MIST PARKS INC
OHIO DEPARTMENT OF MENTAL HEAL OIKOS INVESTMENTS LLC
OLD DOMINION CAPITAL GROUP LLC OLIVE STREET INVESTORS II LP
ON Y GIO INC ONFM INC
OPEN DOOR ENTERPRISES LLC ORCHARD BREEZE RE LLC ORIOLE ASSOCIATES LLC OVERLOOK DEVELOPMENT LLC PACIFIC ONE LENDING
PANT LLC
PARK PLACE TX LLC PARMINDER ATUL 401K PSP PAT DESANTIS
PATTESON INVESTMENTS LLC PAUL K HOOVER JR
PBRELF I LLC
PCCP CREDIT IX REIT SUB HOLDCO PEL INDUSTRIES INC"
"PENSCO TRUST CO LLC PENTECOASTAL THEOGICAL SEMINAR PGIM REAL ESTATE FINANCE LLC PHILIP L JOHNSON
PHILLIP LUONG
PJL FINANCIAL GROUP INC PLATINUM PROPERTIES HOLDINGS L POMONA COLLEGE
PORTLAND HOUSING BUREAU POWER EXPRESS PREFERRED FUNDING LLC PRESIDIO ESTATES III LP
PRIX INVESTMENT CORPORATION PROPERTY MAX INC
PROVIDENT TRUST GROUP PRUDENTIAL HUNTOON ASSOCIATES PRUDENTIAL INVESTMENT CO LLC QUICK LOAN FUNDING
R E C L INC
R L JONES & ASSOCIATES R M WOODARD INC
RC CAPITAL FUNDING GROUP LLC RC LEGACY VENTURES LLLP
RCN CAPITAL, LLC RDC CAPITAL LLC RE CAPITAL LLC
READYCAP LENDING LLC REBECCA ELAINE BEVILLE ETAL RED DRAGON PROPERTIES LLC RED OAK INVESTMENTS LLC RELIANCE EQUITIES
RENAISSANCE COMMUNITY LOAN FUN RFLF I LLC
RGA REINSURANCE COMPANY RHTJ PROPERTIES LTD RICHARD D BARKER INC RIDGEMOOR PROPERTIES INC RIVER FALLS LLC
RMP MANAGEMENT ROBERT D FRYE JR ROBERT MAZER ETAL
ROBERT N WILLEKE JR ETUX"
"ROCHESTER HOME EQUITY INC RON KOURY
ROOT EXECUTIVE LLC ROS 2017 HOLDINGS LLC ROUVEN IROM ETUX
RPJ NV LLC
RSI FINANCIAL SERVICES
RUEDY & STITES ADVERTISING COM RUFINO GARZA
RUSH CREEK LLC RUSS LANDAU
SAFETY HARBOR ENTERPRISES LLC SALT LAKE CITY CORPORATION SAM CALVANO
SAM KO ETUX
SAMUEL HOROWITZ IRA SARA CARPENTER SARA MINCER
SATTERBERG ESTATES LLC SCANNER 2 ASSOC LLC SEASIDE FUNDING INC SEBASTIAN BIRRITTERI SECURED INVESTMENT CORP SEYMOUR WATERMAN ETAL SG COMMERICAL 1 LLC
SGLC INC
SHADY ACRES ESTATES INC SHAPIRO FAMILY LLC SHAWN GREEVES ETAL SINGLE WING LLC
SIR MAURICE LLC
SJPW RANCH INVESTMENTS LLC SKEENS CONSULTING CORP SKY CAPITAL LLC
SL LENDING FUND SLAVA BOSIN
SOCIETE GENERALE FINANCIAL SOLIMAN PROPERTY SOLUTION ENTE SOLO 401K LLC
SOUNDVIEW LLC
SOUTH EASTERN ECONOMIC DEVELOP SOUTHWEST HOUSING SOLUTIONS CO"
"SPARTAN REAL ESTATE INVESTMENT SPRUCE INVESTMENTS LLC
SRB INVESTMENTS STAR MOBILE HOMES LP
STC INVESTMENT GROUP LLC STEPHEN BOSCO
STEPHEN F SEGUNDO STEVEN H SCHIDING
STONE ACRES INVESTMENTS LLC STONEHEDGE FUNDING LLC STRATA TRUST COMPANY STRATEGIC FUNDING LP SUMMERS LEASING SERVICES INC
SUMMIT COUNTY LAND REUTILIZATI SUN DOLLAR SERVICING LLC SUNRISE HOUSING LLC
SUPPORTIVE HOUSING SOLUTIONS F SYKES EQUITY LLC
TANNENBAUM STRATEGIC CREDIT LL TCMAX LLC
TEN 10 FUND I LP TEXAS FUNDING CORP
THE ANDERSON FAMILY REVOCABLE THE BLEECKER FAMILY TRUST
THE BUSH FAMILY TRUST
THE CATHERINE PORTWOOD CONRAD THE CORNER DELI PROPERTY TRUST THE FOUNDATION FOR SUSTAINABLE THE FOUNTAIN TRUST COMPANY
THE JUNE E HEWKIN REVOCABLE TR THE LINDA JEANNE JUSTICE REVOC THE NORTHERN TRUST COMPANY THE PATRICA ANN DAVIS TRUST
THE PERMANENTE MEDICAL GROUP I THE ROMINE LIVING TRUST
THE TRUST OF THEODORE H BARRET THE UNIVERISTY OF CALIFORNIA H THE WHITY BRANDOLINI TRUST
THE WONDERS LIVING TRUST THOMAS B LEVINSON ETAL THOMAS MICHAEL VANNI
THOMPSON KANE & COMPANY"
"TIMOTHY FERGUSON TOP FLYTE LLC
TOP FRUIT INC TOVIN HOLDINGS
TOWER REAL ESTATE FUND I LLC TPG RE FINANCE 21 LTD
TRAN FAMILY TRUST TRANSGLOBAL LENDING TRIDENT REALTY INVESTMENTS TRINITY PEAK FINANCIAL
TUCUMCARI FEDERAL SAVINGS & LO UNIFIRST MORTAGE CORP
UNITED FIN GROUP LLC
UNITED LENDING PARTNERS LP UNITED MANAGEMENT GROUP INC UNITED STATE OF AMERICA UNITED STATES OF AMERICA DEPT
UNITED STATES SENATE FEDERAL C UNIVERSAL LENDING CORPORATION UNIVERSITY OF SOUTHERN CALIFOR USAA
UTAH CERTIFIED DEVELOPMENT COM VA CU INC
VICINO LIMITED PARTNERSHIP VICTOR CHESWICK JR TRADITIONAL VILLA BLANCA PROPERTIES LLC VILLAGE CAPITAL CORPORATION
WALKER & DUNLOP COMMERCIAL PRO WARLYN INC
WATERFALL BRIDGE CAPITAL LLC WEINBERG SERVICING LLC
WELLS CHURCH EXTENSEION FUND I WESLEYAN INVESTMENT FOUNDATION WESTERN ADVENTIST FOUNDATION WESTERN CAMELBACK PROPERTY LLC WESTERN HIGHLAND FUND II LLC
WFG NATIONAL TITLE INSURANCE WICHITA HABITAT FOR HUMANITY I WILLIAM HENSLEY ETAL
WILLIAM KEN SPROWLS ETUX WILLIAM R MILLER
WINDSOR CHASE LLC"
"WNB FINANCIAL N A WONDERFUL INVESTMENTS LLC XEMERICA INVESTMENTS LLC
YORK CAPITAL MANAGEMENT LLC YUVAL HELFMAN
YVONNE K YUNG KWAN CHAU
ZEMAG FAMILY LIMITED PARTNERSH"
"CONTACT
BANK PRODUCTS"
"Anchorloans.com, 888-719-
5299, Multi, Res, 50K-5M"
"Anchor Loans"
"Lending One**" "https://app.lendingone.com/
," "Rental, Flips,New Build, Multi, Portfolio 75K-5M min. seasoning"
"RCN Capital
CONSTRUCTIVE LOANS LLC" "Felix, 833) 250-7634,
www.constructiveloans.com" "Rental, Flips,New Build, Multi, Portfolio 50K-7.5M
Flips, Rentals, Line of credit for flips"
"COREVEST AMERICAN FINANCE" "Rentals, Commercial, Flip, bridge"
"HOMESTAR MORTAGE INC Cash out Refi
CONVENTUS LLC Rental, AIRBNB,
Rehab, Rental, Construction"
"EASTSIDE FUNDING LLC Land"
"KIAVI FUNDING" "1 (844) 415-4663" "Rental, Rehab"
"SHERMAN BRIDGE ALT FUND LP (" "Efrom, 866-404-3173" "Rehab, Rental"
"LIMA ONE CAPITAL" "800-390-4212,
hello@limaone.com, Carter" "Rehab, Rental Bridge Multi- Family, Portfolio REFI"
"AHL FUNDING Rental"
"410-593-1413,
Geary@thedominion.com
DOMINION FINANCIAL SERVICES L Flip, Rental Multi, Construction"
"On Top Funding (ANITA and SAM) Flip, Rental Multi, refi/cash"
"BANK CONTACT PRODUCTS"
"1. STRATTON EQUITIES
2. GELT FINANCIAL, LLC" "(561)221-0900
www.geltfinancial.com" "JV, Foreclosure/DPO, Purchase, Refinance, Rehab, Flip, Commercial, Residential HML, Business,"
"3. CROWDER FINANCIAL
4.Florida Mortgage solutions
5. Taylor Made Lending LLC" "1-407-887-5661
www.crowderandcompany.co m
Phone: 954-416-1765 Email: info@mtg-solution.com Website: mtg-solution.com
(954) 614-5109 Email: JM@TMLENDING.COM WWW.TAYLORMADELENDIN GLLC.COM" "Single fam., rental, multifamily, land, builder credit,new construction, commercial, adquisition and development FHA loans, residdential loans
,VA loans, 1% down grants programs, commerical loans, International financing, recent foreclosure loan, reverse mortgage, hard money loans Direct private money lending, commercial property loans for investor, foreing national loans, quick bridge loans solutions, residential investment in Florida, fix and flip, equity based lending, multifamily invetment, construction loans, all type of
real estate loans"
"6. First Funding Invetments
7. Elixir Mortgage Lending
8. Realty Capital Finance
9. Priority Investor Loans
10.EAST COAST CAPITAL CORP
11.CAPITAL FUND I LLC
12.COREVEST AMERICAN FINANC" "(817) 267-4242
www.firstfundinginvestment. com
ElixirMortgagelending.com (800) 558-0496
(908) 923-0100 -
info@realtycapitalfinance.co m www.realtycapitalfinance.co m contact@priorityinvestorloan s.com - tel:+1800-3808941 -
www.priorityinvestorloans.co m
877-781-7788
info@eastcoastcap.com eastcoastcap.com
954-320-0242
loans@capitalfundingfinancia l.com https://capitalfundingfinanci al.com/ https://www.corevestfinance
.com 844-223-7496
info@cvest.com" "Residential – Single Family, Duplex, 4plex, commercial, apartments, office, retail, warehouse, land etc.Hard Money Acquisition, Bridge, Foreclosure, Standby Commitment, Hard Money
,Land Acquisition,Cash Out, Note Purchase,Flash Funding,Transactional, Proof of Funds Letter,Property Settlement Loans (Divorce and Lawsuits)
Improvements Loans (First Lien only) Interim Construction, Refinancing,Combination of Purchase and Fix Up Loans singel family, condo, 2-4 units, multifamily, mixed used, non-owner ocuupied, vacation rentals
1-4 unit, multifamily, mix- used, bridge loan,groundup construction, short & long- term
Fix & Flip, fix to rent, landloard, commercial, transactional loans construction loans,Home equity loans,FRM,ARM, jumbo loans, refinance mortgage loans, FHA, reverse mortgage loans,VA
Hard money, fix and flip, rental investment, ground up construction
rental loans, bridge, build for rent loans"
"13.HOMESTAR MORTAGE INC" "401-454-3300.
stetzner@homestarmortgage.ne t https://homestarmortgage.net
https://www.kiavi.com 844-" "investor program, high networth borrower, self empolyed borrower"
"14.LENDINGHOME FUNDING" "415-4663 rental loans
info@thompsonkane.com (800) 228-9270"
"THOMPSON KANE & CO LLC
16. Towers Financial Services *** Pip
17. XPress Loans 911
18. Loan Partners LLC
19. DLP Capital
20. Asset Based Lending LLC
21. The hard money place
22. Lima One Capital
23. Vsion Lending" "(608) 833-2400
https://www.thompsonkane. com/ jimt@towersfinancialservices
.com (561) 330-5303
www.towersfinancialservices
.com
www.expressloans911.com (704) 275-5500
(504) 267 - 7459
hello@lpnola.com www.lpnola.com
1.855.582.8025
www.dlpcapital.com
201-734-5340.info@abl1.net www.abl1.net
(954) 214-9919.
www.loan.thehardmoneypla ce.com
800-390-4212 -
hello@limaone.com - www.limaone.com 888.521.0353 -
www.visionlending.com" "Mortgage intertest rates, fixed rate mortgage, FHA, VA, USDA
Residential and Commercial: trasactional funds for purchase, rehabs, fix & flips, construction, bridge, end loans Buy & hold, cash out refinance, 100% purchase, commercial loans
Non owner occupied Single- Family Residence, Multifamily, Retail, Hotel, Office, Light Industrial
Flix & Flip, New construction, multifamily bridge funding, rental, prefered line of credit flix&flip,, new construction, cash out refinance, rental property
Bridge loans, flix&flip, commercial, land development
flix&flip, rental, new construction, multifamily
Rental, vacation rental, estrategy finance, commercial"
"(407) 795-6149 -
loans@gelitecapital.com"
"24. G-Elite Capital" "Residential and commercial, fix & frlip, Buy & hold, cash out refinance, nre construction - mortgage broker"
"25. Jack Morrison -Facebook Fix&Flip, Buy&Hold,
26. Ankur Chatterjee-Facebook alderlending@gmail.com Information HERE
Residential, single-family, multi- family, fix&flip, Rehab,"
"27. Fred B. Watcher-Facebook" "agnlending@gmail.com" "Commercial & other personal loans"
"28. Day Air Credit Union Inc.
29. Fortune Financial Inc.
Amp Lending" "Phone: (937) 643-2160 /
Email: mail@dayair.org / https://dayair.org/
Phone: 844-792-2428
Email: info.fortunefinancialservices. com https://fortunefinancialservic es.com/
Email: contactus@askmortgagepros.co m https://www.askmortgagepros.c
om/index.php" "Commercial loans, ppp loans, Commercial Real Estate Loans,
business term loans, home insurance
construction loans
Fixed rate loans, adjustable rate loans
FHA Loans, Va loans"
"Bridge Capital Asset Funding LLC.
Community Credit Union of Florida" "Phone: 1-670-322-2222
Email: admin@bccnmi.com
https://bccnmi.com/ Direct hard money lender Richard Roach
VP, Commercial Loans
321.637.3129
roachr@ccuflorida.org
Jason Davis Commercial Loan Officer
321.637.3202
davisj@ccuflorida.org Commercial real estate
financing,
fixed asset financing"
"Cuyohoga HHF Acquisitions LLC"
"First Choice Loan Services
Homebridge Financial Services
Omega Lending" "Phone: 954-317-0573
Email: info@myfirst-choice.com https://www.myfirst- choice.com/contact-us.html
Phone: Direct: 732-738-7100
Toll Free: 866-933-6342
https://www.homebridge.com/
Phone: 1-800-971-2066
https://www.omglending.com/" "fixed-rate mortgage, jumbo mortgage,
adjuistable rate, FHA mortgage,
VA mortgage, construction and renovation mortgages Conventional loans, FHA loans,
VA loans, USDA loans, HELOC
( Home equity line of credit), jumbo
loans, renovation loans, loans for
non-traditional borrowers.affordable lending, refinance loans, reverse
mortgages, construction to perm
Condo Loans Conventional Purchase Disaster Relief Program Fannie Mae HomeReady® FHA Loans
Freddie Mac Home Possible® High Balance Loans
Jumbo Loans Reverse Mortgage USDA Loans
VA Loans – Purchase
VA Loans – Refinanc"
"PATCH OF LAND LENDING LLC
EASTSIDE FUNDING LLC" "https://patchlending.com/ 888-258-8646
https://www.eastsidefunding
.com/ info@eastsidefunding.com 425-230-0000" "fix and flip, Ground up construction, single family bridge, mulifamily bridge, long term rental
Devlopment, rehab construction,"
"Phone: 919-281-0191
email: douglas@pinnaclefundinginc.co m https://www.pinnaclefundinginc. com/"
"Pinnacle Funding Corp" "https://www.cvlending.com/ info@cvlending.com 415-923-" "Investor loans"
"CONVENTUS LLC" "8069 long term rentals Small Balance Commercial"
"Planet Management Group
Jet Lending LLC
Katahdin trust co" "Phone: (585) 512-1030
Email: pmginfo@planet-mg.com https://planetmanagementgroup. com/
Phone: (281) 872-7800
email: info@jetlending.com https://www.jetlending.com/
Phone:1-855-331-3221
commercial: 1-800-221-2542 email: info@katahdintrust.com https://www.katahdintrust.com/" "Servicing, Residential Transition Loans, Real Estate Brokerage, Real
Estate valuation
buy fix and sell, buy fix and rent,
short term and long term rentals,
commercial properties, transactional
funding, large balance commercial
broker, land, new construction
Term loans, business mortgages(for
real estate)"
"Phone: 602-595-5947
https://quicksourcecapital.com/"
"Source Capital LLC
GUARDHILL FINANCIAL CORP
Telhio Credit Union Inc
DOMINION FINANCIAL SERVICES L" "https://guardhill.com/ (800) 853.7078
hello@guardhill.com
phone: 614-221-3233
Jason Yochheim( VP commercial Lender) His email:
jason.yochheim@telhio.org
https://dominionfinancialser vices.com/. 410-593-1413" "investment property loans Asset delpection, commerical, condo, conforming, construction, co-op, FHA, foreign national, heloc, jumbo, investment property, mulityfamily
commercial real estate lending
rental loans, fix and flips, ground up construction, mulitfamily bridge"
"HouseMax Funding LLC
RESIDENTIAL CAPITAL PARTNERS" "Phone: (512) 598-1382
Email: info@housemaxusa.com
866-441-0223
https://residentialcapitalpartners. com/
Phone: (207) 622-5801
Email: Info@KennebecSavings.Bank https://www.kennebecsaving" "fix & flip loans. rental loans, hard
lendors
fix and flip, rental bridge and long term"
"Kennebec Federal savings bank
Summit Funding Advisors" "s.bank/ Commercial Real estate loans Phone: 404-835-6500
email: info@summitfundingadvisors.co m https://summitfundingadvisors.c
om/ Investor loans"
"finish line"
"TERM" "APPRASIAL REQUIRED?" "CREDIT SCORE REQ" "FUNDING TIME" "POINTS" "TAXES"
"6-12 month, LTC (Loan to cost)" "NO Apprasial" 620 "5-10 Days" "03-Jan"
"6 month -30 year 90% Purchase and repairs,7.6% flix flop, 3.6% rental loan 80%LTV" "03-Jan" "No"
"12 Month- 30 years
90%/100% reno" 620
"12-24 months 75% ARV 90% LTC, for rental 75% cashout
refi, DSCR 1.1%, 6%-7%" "Yes" 620 "14 Days" "2 points" "Yes*"
"$200K-100M, Offer Non- recourse,18-24 months (10 year max loans Commercial only)" "YES" "21 Days" "03-Jan"
"LTV 80% YES 620
LTV 75% max AIRBNB 65%
6months- 30 years, 7.5-"
"5-10 days
rehab, 30-45"
"11.99% rehab, 4-7.99%
long term" "620 (660 for airbnb refi)" "long term loan"
"No Credit"
"90% PP, 75% ARV, 100%
Rehab interest only options,
6.50% rehabs 5.750% holds No Apprasial No Credit" "12 month -
30 year term loans"
"100% rehab and PP not to exceed 70% ARV, 10.99 -
11.99% rate, DSCR -1.1%-
1.25%" "No Apprasial, SCA report 2-
3 hours EZ90" "650-680 12 month -" "2-3 Points" "No taxes, but need bank statements"
"90% LTC, 75% LTV (85% LTC, 70%LTV, up to $20M
Multi family DSCR 1.0%) DSCR 1.2 6.99% 9.875%" "Yes apprasial, Desk top apprasial for bridge single family Does 10% of units or min of 5" "13-24
Months Rehab, 5-30
Years (5-30
680-700 year Rental)
Multi, 620 30 (24-36 Month year, fix flip intresrt only
660 Multi-fam)" "1 point and
$2500" "No taxes, but need bank statements"
"up to 80% LTV" "Yes"
"No Apprasial"
"up to 80% LTC and no" "on Multi (9"
"cashflow flor Multi)" "units long"
"Cashflow based loans for" "term loan, 10-"
"rental units, 5.49% rental" "100 units"
"buydown, up to 80% LTV" "short term"
"rental, 8% flip loan, 1.5" "loan only)," "No taxes for"
"point" "1.1 dscr" "640+" "30 years" "2 Points" "Rental"
"12months -"
"Up to 90%, 4.20%-6.75%," "Varies" "640+" "30years"
"CREDIT SCORE
REQUIRED"
"APPRAISAL
REQUIRED" "FUNDING POINTS TAXES
TIME"
"TERM"
"Short term and Long Term Lev:upto 65% of appraisald value (up to 100%
financing) Yes NONE
Close in 15-21 days. 1m to
25 m, up to 75% LTV, google 700" "Loan to Value Up to 100%" "Fees 2-3% - Int.9.5%
Rates starting 5.90% fixed, origination
2%, 5, 7 & 30" "No income verification
No income verification"
"N/A N/A"
"2-3 yrs. maturity (option to" "Loan value max 70% from
$100,000 to" "rates varies"
"renew)" "N/A" "N/A" 10000000 "8.99%-12%"
"2-5 Loan"
"commitment"
"fees/points"
"per"
"Loan" "transaction"
"3-18 months, 11-13" "extension
available on" "$795-$2500
Processing"
"intrest rate, payments" "No Income" "a case by" "fee per"
"due monthly/quaterly" "N/A" "verification" "basis" "transaction"
"$150-5 K loans" "N/A"
"varies per loan" "No income vertification"
"description" "N/A" "Score @ 620" "Varies" "Interest only" "N/a"
"varies per loan" 620
"description" "+required" "short-term"
"varies per loan" "varies"
"description" "yes" "620+required" "varies" "between loan" "N/A"
"Varies per loan" "varies on loan fast" "varies"
"description" "N/A" "N/A" "closing" "between loan" "N/A"
"Varies per loan description" "75%-80%"
"typically 5-10 years maturity" "N/A" "N/A" "value" "rate varies" "N/A"
"varies per loan description N/A 620 +" "varies on
loan N/A
interest only"
"30 year fix N/A N/A 80% LTV 6.6% N/A"
"15-30 years N/A 620+" "doesnt say coverage" "Interest
varies N/A"
"12-24 Interest only-flexible
terms" "N/A" "as low as
500" "as low as
5.25%" "interest only" "no tax
returns"
"Loan Amounts from 75K to 2M+ collateral-based, transaccional funding, bridge
loans, renovation and new" "as low as" "12 months"
"construction" 600 "varies" "interes" "N/A"
"varies per loan description" "N/A" "vavries" "varies" "varies" "N/A"
"12 months - Long Term 30 yrs." "N/A" 660 "0-2%"
"Asset-Based" "N/A" "No credit score needed" "N/A" "N/A" "NO"
"13 months (short- term)-30 yr. rental Int. starting 5.5%" "N/A" "600-660" "varies" "NO"
"Asset Based - Varies" "No credit
needed fast closing N/A
6% Int. -
100%" "no income needed"
"N/A" "Finance N/A N/A 100%
Finance"
"100% Funding up to 85% ARV-No prepayment penalty"
"Rates as low as
4.49% with an LTV of
80% or less."
"Loans for any Short Term Business
purpose. Term rates vary. N/A" "No specification, but yes" "Up to 100% loan-to-value, 7 year draw period" "5.49% with an LTV between 81%
and 90%.
5.99% with an LTV
above 91% N/A"
"Vary N/A" "Minimim of 620
(FHA and
Fixed Rate)"
"n/a N/A" "Able to fund up to 50 million"
"varies varies varies
varies
Varies per loan description n/a Varies Varies varies
varies per loan description n/a n/a varies varies
varies per loan description n/a n/a"
"varies per loan description N/A" "650 minimun Fico" "varies on loan 80%-
90% varies N/A"
"varies per loan description" "N/A" "n/a" "n/a" "n/a" "n/a"
"Used to finance 1-4 family properties
that will be for investment with as little
as a 10% down payment.
Aggressively priced, these programs
have many variations, including: No
Doc, Limited
Doc, and Full Doc. Program may not be
available in some states." "n/a" "n/a" "n/a"
"varies per loan description" "n/a" 660 "75% LTV
close in 30-
45 days" "N/A" "N/A"
"varies per loan description n/a n/a"
"varies per loan description"
"varies per loan description" "Needs credit approval"
"Available terms 6 to 60
months not needed" "no credit check- can close in LLC" "Fund in as little as 24 hours" "from 11.99%(APR
12.99%)" "no income or asset verification"
"varies per loan description N/A" "credit varies on loan type" "varies on
loan type N/A N/A"
"No specification" "n/a" "n/a"
"30 years" "not required" "680+" "close in 2 days" 0.064000 "N/A"
"varies" "n/a" "n/a" "Able to close funding
in 10 days or less" "n/a" "n/a"
"varies per loan description" "N/A" "n/a" "varies on loan type" 0.055000 "N/A"
"flexible loan terms and
structures n/a n/a"
"varies n/a"
"NOTES"
"Min as-is 50K, AIRBNB REFI
andrew*"
"No Seasoning! No income veryfying only rents No income, taxes. only DSCR of property"
"Min 50K-3M"
"75K Min-4M
(Multiple props at once)" "No Income" "Refi with 6 months seasoning"
"75KM-3M (50K-1M
Rental)" "No Income on rental loan, (Need partner with experiance with Multi Unit 100 units)" "250 draw fee" "DELAYED FINANCE LOANS/ BRIDGE
PLUS LOAN on schdedule 6 months seasoning, 10/1 and"
"150 per draw, 500,250, for
paper work. No income Dont care verification about my for Rental experiance
units for apartment"
"NOTES"
"Nationwide Lending"
"Nationwide Lending"
"Nationwide Lending"
"Local Florida"
"Local Texas
Nationwide Lending- Asset based
Nationwide Lending- asset based
Nationwide
Nationwide
Nationwide lending"
"Local Rhode island
Nationwide
Nationwide
Nationwide
Local New Orleans
Local Florida- St. Augustine
East Coast
Florida
south carolina
nationwide"
"California, Florida, New Jersey, New York, Georgia, Connecticut, Oregon, Pennsilvanya
, South Carolina, Texas, Washington, Illiniois.
none
supposedly low fees
Based in Houston"
"operated in ohio
local in plantation
Nationwide"
"Nationwide
Nationwide
nationwide
Nationwide
nationwide"
"no pre- payment penalty, investment propety loans only,title insurance required
on all loans
Nationwide
Nationwide
nationwide
nationwide"
"5/1arm is 80% cashout"
"Promissory Note
Dollar Amount: $ Dated: Principal Amount: State of:"
"FOR VALUE RECEIVED, the undersigned hereby jointly and severally promise to pay to the order of , the sum of Dollars ($ ), together with interest thereon at the rate of % per annum on the unpaid balance. Said sum shall be paid in the manner following: .
All payments shall be first applied to interest and the balance to principal. All prepayments shall be applied in reverse order of maturity. This note may be prepaid, at any time, in whole or part, without penalty. This note shall at the option of any holder hereof be immediately due and payable upon the occurrence of any of the following:
1. Failure to make any payment due hereunder within days of its due date.
2. Breach of any condition of any security interest, mortgage, pledge agreement or guaranty granted as collateral security for this note.
3. Breach of any condition of any security agreement or mortgage, if any, having a priority over any security agreement or mortgage on collateral granted, in whole or in part, as collateral security for this note.
4. Upon the death, dissolution or liquidation of any of the undersigned, or any endorser, guarantor or surety hereto.
5. Upon the filing by any of the undersigned of an assignment for the benefit of creditors, bankruptcy or for relief under any provisions of the Bankruptcy Code; or by suffering an involuntary petition in bankruptcy or receivership not vacated within 30 days.
In the event this note shall be in default, and placed with an attorney for collection, then the undersigned agree to pay all reasonable attorney fees and costs of collection.
Payments not made within five (5) days of due date shall be subject to a late charge of
% of said payment or $ . All payments hereunder shall be made to such address as may from time to time be designated by any holder hereof.
The undersigned and all other parties to this note, whether as endorsers, guarantors or sureties, agree to remain fully bound hereunder until this note shall be fully paid and waive demand, presentment and protest and all notices thereto and further agree to remain bound, notwithstanding any extension, renewal, modification, waiver, or other indulgence by any holder or upon the discharge or release of any obligor hereunder or to this note, or upon the exchange, substitution, or release of any collateral granted as security for this note. No modification or indulgence by any holder hereof shall be binding unless in writing; and any indulgence on any one occasion shall not be an indulgence for any other or future occasion. Any modification or change of terms, hereunder granted by any holder hereof, shall be valid and binding upon each of the undersigned, notwithstanding the acknowledgment of any of the undersigned, and each of the undersigned does hereby irrevocably grant to each of the others a power of
y such modification on their behalf. The rights of any holder"
"hereof shall be cumulative and not necessarily successive. This note shall take effect as a sealed instrument and shall be construed, governed and enforced in accordance with the laws of the State first appearing at the head of this note. The undersigned hereby execute this note as principals and not as sureties.
Signed in the presence of:
Witness: Borrower: "
"Witness: Borrower: "
"GUARANTY
We the undersigned jointly and severally guaranty the prompt and punctual payment of all moneys due under the aforesaid note and agree to remain bound until fully paid. In the presence of:
Witness: Guarantor: "
"Witness: Guarantor: "
"(Seal) Notarized by:"
"Page 2 of 2"
"Simple promissory note containing a balloon payment
(date of the note)
(name of maker) FOR VALUE RECEIVED, I, the undersigned, promise to pay to the order of
(name of payee) the sum of Dollars ($ ) together with interest thereon at the rate of
% per annum payable as follows: Payments of interest only shall be due and payable in the amount of $ on the
day of each month commencing on the
day of (date of the first interest payment) and a final payment of interest and principal in the amount of
$ shall be due on [date]. This Note may be prepaid in whole or in part at any time without premium or penalty. All prepayments shall be applied first to interest, then to principal payments in the order of their maturity. The undersigned agrees to pay all costs and expenses, including all
reasonable attorneys’ fees, for the collection of this Note upon default. All payments shall be made at (place of payment), or at such other place as the holder hereof may from time to time designate in writing. Each maker, surety, guarantor and endorser of this Note waives presentment, notice and protest, all suretyship defenses and agrees to all extensions, renewals, or releases, discharge or exchange of any other party or collateral without notice.
(signature of the maker)"
"Agreement of Purchase and Sale
This Agreement of Purchase and Sale (“Agreement”) is dated this day of 20 .
(“Buyer”), agrees to purchase from (“Seller”) the following REAL PROPERTY at and having
a frontage of more or less by a depth of more or less and legally described as: (the ""Property"").
PURCHASE PRICE: Dollars (CDN$) Canadian Dollars"
"DEPOSIT: Buyer submits $1.00 Herewith by cash payable to Seller and to be credited toward the Purchase Price on completion."
"Buyer agrees to pay the balance of the purchase price, subject to adjustments by bank draft or certified cheque to the Seller upon completion of this transaction."
"SCHEDULE(S) attached hereto form(s) part of this Agreement."
"1. IRREVOCABILITY: This Offer shall be irrevocable by until on the
day of 20 , after which time, if not accepted, this Offer shall be null and void and the deposit shall be returned to the Buyer in full without interest."
"2. COMPLETION DATE: This Agreement shall be completed by no later than 6:00 p.m. on the
day of , 20 ."
"3. NOTICES: Any notice relating hereto or provided for herein shall be in writing. In addition to any provision contained herein and in any Schedule hereto, this offer, any counter-offer, notice of acceptance thereof or any notice to be given or received pursuant to this Agreement or any Schedule hereto shall be deemed given and received when delivered personally or hand delivered to the Address for Service provided in the Acknowledgement below, or where a facsimile number or email address is provided herein, when transmitted electronically to that facsimile number or email address."
"Seller FAX No. Seller EMAIL Address"
"Buyer FAX No. Buyer EMAIL Address
4. CHATTELS INCLUDED:
Unless otherwise stated in this Agreement or any Schedule hereto, Seller agrees to convey all fixtures and chattels included in the Purchase Price free from all liens, encumbrances or claims affecting the said fixtures and chattels."
"5. FIXTURES EXCLUDED"
"6. RENTAL ITEMS: The following equipment is rented and not included in the Purchase Price. The Buyer agrees to assume the rental contract(s), if assumable:"
"7. HST: If the sale of the property (Real Property as described above) is subject to Harmonized Sales Tax (HST), then such tax shall be included in the Purchase Price. If the sale of the property is not subject to HST, Seller agrees to certify on or before closing, that the sale of the property is not subject to HST. Any HST on chattels, if applicable, is included in the purchase price.
8. TITLE SEARCH: Buyer shall be allowed until 6:00 p.m. on the day of , 20 ,
(Requisition Date) to examine the title to the property at Buyer’s own expense and until the earlier of:
(i) thirty days from the later of the Requisition Date or the date on which the conditions in this Agreement are fulfilled or otherwise waived or; (ii) five days prior to completion, to satisfy Buyer that there are no outstanding work orders or deficiency notices affecting the property, and that its present use ( ) may be lawfully continued and that the principal building may be insured against risk of fire. Seller hereby consents to the municipality or other governmental agencies releasing to Buyer details of all outstanding work orders and deficiency notices affecting the property, and Seller agrees to execute and deliver such further authorizations in this regard as Buyer may reasonably require.
9. FUTURE USE: Seller and Buyer agree that there is no representation or warranty of any kind that the future intended use of the property by Buyer is or will be lawful except as may be specifically provided for in this Agreement.
10. TITLE: Provided that the title to the property is good and free from all registered restrictions, charges, liens, and encumbrances except as otherwise specifically provided in this Agreement and save and except for (a) any registered restrictions or covenants that run with the land providing that such are complied with; (b) any registered municipal agreements and registered agreements with publicly regulated utilities providing such have been complied with, or security has been posted to ensure compliance and completion, as evidenced by a letter from the relevant municipality or regulated utility; (c) any minor easements for the supply of domestic utility or telephone services to the property or adjacent properties; and (d) any easements for drainage, storm or sanitary sewers, public utility lines, telephone lines, cable television lines or other services which do not materially affect the use of the property. If within the specified times referred to in paragraph 8 any valid objection to title or to any outstanding work order or deficiency notice, or to the fact the said present use may not lawfully be continued, or that the principal building may not be insured against risk of fire is made in writing to Seller and which Seller is unable or unwilling to remove, remedy or satisfy or obtain insurance save and except against risk of fire (Title Insurance) in favour of the Buyer and any mortgagee, (with all related costs at the expense of the Seller), and which Buyer will not waive, this Agreement notwithstanding any intermediate acts or negotiations in respect of such objections, shall be
at an end and all monies paid shall be returned without interest or deduction and Seller shall not be liable for any costs or damages. Save as to any valid objection so made by such day and except for"
"any objection going to the root of the title, Buyer shall be conclusively deemed to have accepted Seller's title to the property.
11. CLOSING ARRANGEMENTS: Where each of the Seller and Buyer retain a lawyer to complete the Agreement of Purchase and Sale of the property, and where the transaction will be completed by electronic registration pursuant to Part III of the Land Registration Reform Act, R.S.O. 1990, Chapter L4 and the Electronic Registration Act, S.O. 1991, Chapter 44, and any amendments thereto, the Seller and Buyer acknowledge and agree that the exchange of closing funds, non-registrable documents and other items (the “Requisite Deliveries”) and the release thereof to the Seller and Buyer will (a) not occur at the same time as the registration of the transfer/deed (and any other documents intended to be registered in connection with the completion of this transaction) and (b) be subject to conditions whereby the lawyer(s) receiving any of the Requisite Deliveries will be required to hold same in trust and not release same except in accordance with the terms of a document registration agreement between the said lawyers. The Seller and Buyer irrevocably instruct the said lawyers to be bound by the document registration agreement which is recommended from time to time by the Law Society of Upper Canada. Unless otherwise agreed to by the lawyers, such exchange of the Requisite Deliveries will occur in the applicable Land Titles Office or such other location agreeable to both lawyers.
12. DOCUMENTS AND DISCHARGE: Buyer shall not call for the production of any title deed, abstract, survey or other evidence of title to the property except such as are in the possession or control of Seller. If requested by Buyer, Seller will deliver any sketch or survey of the property within Seller's control to Buyer as soon as possible and prior to the Requisition Date. If a discharge of any Charge/Mortgage held by a corporation incorporated pursuant to the Trust And Loan Companies Act (Canada),
Chartered Bank, Trust Company, Credit Union, Caisse Populaire or Insurance Company and which is not to be assumed by Buyer on completion, is not available in registrable form on completion, Buyer agrees to accept Seller's lawyer's personal undertaking to obtain, out of the closing funds, a discharge in registrable form and to register same, or cause same to be registered, on title within a reasonable period of time after completion, provided that on or before completion Seller shall provide to Buyer a mortgage statement prepared by the mortgagee setting out the balance required to obtain the discharge, and, where a real-time electronic cleared funds transfer system is not being used, a direction executed by Seller directing payment to the mortgagee of the amount required to obtain the discharge out of the balance due on completion.
13. INSPECTION: Buyer acknowledges having had the opportunity to inspect the property and understands that upon acceptance of this Offer there shall be a binding agreement of purchase and sale between Buyer and Seller.
14. INSURANCE: All buildings on the property and all other things being purchased shall be and remain until completion at the risk of Seller. Pending completion, Seller shall hold all insurance policies, if any, and the proceeds thereof in trust for the parties as their interests may appear and in the event of substantial damage, Buyer may either terminate this Agreement and have all monies paid returned without interest or deduction or else take the proceeds of any insurance and complete the purchase. No insurance shall be transferred on completion. If Seller is taking back a Charge/Mortgage, or Buyer is assuming a Charge/Mortgage, Buyer shall supply Seller with reasonable evidence of adequate
insurance to protect Seller's or other mortgagee's interest on completion."
"15. PLANNING ACT: This Agreement shall be effective to create an interest in the property only if Seller complies with the subdivision control provisions of the Planning Act by completion and Seller covenants to proceed diligently at his expense to obtain any necessary consent by completion.
16. DOCUMENT PREPARATION: The Transfer/Deed shall, save for the Land Transfer Tax Affidavit, be prepared in registrable form at the expense of Seller, and any Charge/Mortgage to be given back by the Buyer to Seller at the expense of the Buyer. If requested by Buyer, Seller covenants that the Transfer/Deed to be delivered on completion shall contain the statements contemplated by Section 50(22) of the Planning Act, R.S.O.1990.
17. RESIDENCY: Buyer shall be credited towards the Purchase Price with the amount, if any, necessary for Buyer to pay to the Minister of National Revenue to satisfy Buyer's liability in respect of tax payable by Seller under the non-residency provisions of the Income Tax Act by reason of this sale. Buyer shall not claim such credit if Seller delivers on completion the prescribed certificate or a statutory declaration that Seller is not then a non-resident of Canada.
18. ADJUSTMENTS: Any rents, mortgage interest, realty taxes including local improvement rates and unmetered public or private utility charges and unmetered cost of fuel, as applicable, shall be apportioned and allowed to the day of completion, the day of completion itself to be apportioned to Buyer.
19. PROPERTY ASSESSMENT: The Buyer and Seller hereby acknowledge that certain Provinces may have implemented current value assessments and properties may be re-assessed on an annual basis. The Buyer and Seller agree that no claim will be made against the Buyer or Seller, for any changes in property tax as a result of a re-assessment of the property, save and except any property taxes that accrued prior to the completion of this transaction.
20. TIME LIMITS: Time shall in all respects be of the essence hereof provided that the time for doing or completing of any matter provided for herein may be extended or abridged by an agreement in writing signed by Seller and Buyer or by their respective lawyers who may be specifically authorized in that regard.
21. TENDER: Any tender of documents or money hereunder may be made upon Seller or Buyer or their respective lawyers on the day set for completion. Money may be tendered by bank draft or cheque certified by a Chartered Bank, Trust Company or Credit Union.
22. FAMILY LAW ACT: Seller warrants that spousal consent is not necessary to this transaction under the provisions of any Family Law Act.
23. UFFI: Seller represents and warrants to Buyer that during the time Seller has owned the property, Seller has not caused any building on the property to be insulated with insulation containing ureaformaldehyde, and that to the best of Seller's knowledge no building on the property contains or has ever contained insulation that contains ureaformaldehyde. This warranty shall survive and not merge on the completion of this transaction, and if the building is part of a multiple unit building, this warranty shall only apply to that part of the building which is the subject of this transaction.
24. LEGAL, ACCOUNTING AND ENVIRONMENTAL ADVICE: The parties acknowledge that they are responsible to obtain their own legal, tax or environmental advice."
"26. AGREEMENT IN WRITING: If there is conflict or discrepancy between any provisions added to this Agreement (including any Schedule attached hereto) and any provision in the standard pre-set portion hereof, the added provision shall supersede the standard pre-set provision to the extent of such conflict or discrepancy. This Agreement including any Schedule attached hereto, shall constitute the entire Agreement between Buyer and Seller. There is no representation, warranty, collateral agreement or condition, which affects this Agreement other than as expressed herein. For the purposes of this Agreement, Seller means vendor and Buyer means purchaser. This Agreement shall be read with all changes of gender or number required by the context.
27. TIME AND DATE: Any reference to a time and date in this Agreement shall mean the time and date where the property is located.
28. SUCCESSORS AND ASSIGNS: The heirs, executors, administrators, successors and assigns of the undersigned are bound by the terms herein.
I, the Undersigned Buyer, agree to the above Offer
SIGNED, SEALED AND DELIVERED in the presence of: IN WITNESS whereof I have hereunto set my hand:
Witness: Buyer Date"
"Witness: Buyer Date"
"I, the Undersigned Seller, agree to the above Offer.
SIGNED, SEALED AND DELIVERED in the presence of: IN WITNESS whereof I have hereunto set my hand:
Witness: Seller Date"
"Witness: Seller Date"
"I acknowledge receipt of my signed copy of this accepted Agreement of Purchase and Sale.
Seller Date"
"Seller" "Date"
"Address for Service" " "
"Telephone" " "
"Seller’s Lawyer" " "
"Address" " "
"Telephone" " Fax "
"I acknowledge receipt of my signed copy of this accepted Agreement of Purchase and Sale."
"Buyer Date"
"Buyer Date
Address for Service Telephone "
"Buyer’s Lawyer
Address Telephone Fax "
"Schedule A
Agreement of Purchase and Sale
This Schedule is attached to and forms part of the Agreement of Purchase and Sale between: BUYER, , and SELLER,____________________________ for the purchase and sale of dated the day
of , 20 ."
"Assignment of Contract
ASSIGNMENT OF CONTRACT
Today’s Date:
Vendor: Purchaser: Address: Address: "
"Phone: Phone: "
"Original Purchaser: Phone: Address: "
"Contract Date:
By this assignment of contract, and with an assignment fee of $ , (Original Purchaser) exercises his unqualified right to assign all of his rights and obligations of the attached contract for sale and purchase, dated on the property located at with
(Vendor) to the Contract Purchaser as follows: The Purchaser of the contract on this property hereby agrees to fulfill all of the same conditions, obligations, and terms of the attached contract for sale and purchase, dated .
The total consideration for this assignment is $ , non-refundable, to be paid as follows:"
"Upon signing this agreement, Contract Purchaser recognizes that the Original Purchaser is no longer a party to the above referenced contract.
Original Purchaser: Date Original Purchaser: Date New Purchaser: Date
New Purchaser: Date "
"(Have this document notarized.)"
"SCHEDULE A
FINANCING CONDITIONS"
"Initial deposit $100.00
Closing Date: October 7th, 2020
The terms and conditions of this Schedule A shall prevail in the event of a conflict with the terms and conditions of the attached standard Agreement of Purchase and Sale.
The Buyer agrees to pay a further sum of Five Thousand Dollars ($5,000.00), payable to the Buyer’s Title Company in Escrow, upon removal of all conditions contained herein, as a supplementary deposit to be held in Escrow pending completion or other termination of this Agreement. This amount is to be credited towards the purchase price on completion of this transaction.
Should the offer to purchase become null and void, any deposit paid by the Buyer will be returned in full without interest or penalty.
This Offer is conditional upon the Buyer obtaining, at its own expense, satisfactory financing to him for the said property on or before September 23rd , 2020. Failing which this Offer shall become
null and void and the Buyer’s deposit shall be returned in full without interest or penalty."
"SCHEDULE B
GENERAL CONDITIONS
The terms and conditions of this Schedule B shall prevail in the event of a conflict with the terms and conditions of the attached standard Agreement of Purchase and Sale.
Income and Expense Verification
This Offer is conditional upon the Buyer being satisfied with statements of income and expense which the Seller agrees to provide within 5 business days of acceptance of this Offer for a minimal period of two years to-date, including rent receipts for each apartment to verify what the tenants are paying monthly. Tax, insurance, utilities, gas and water bills for same period as well as receipts for any other expenses and improvements to the property will also be provided to Buyer.
Zoning, Environmental and Fire inspection
The Seller represents and warrants that the subject property has recently passed all electrical and fire inspections, environmental site assessment and zoning requirements and that all units are legal and the Seller agrees to provide recent documentation of this within 5 business days of acceptance of this Offer.
Rents Verification
This Offer is conditional upon the Buyer being satisfied with all information pertaining to the tenants including copies of any leases, names, unit occupied, monthly rent payable and due date, amount of any prepaid rent and date it was paid, and any arrears in rent; which information the Seller agrees to provide within 5 business days of acceptance of this Offer. The Seller agrees to also provide the Buyer with an “Acknowledgement by Tenant” signed by each Tenant outlining the key terms and conditions of their tenancy. The Buyer has the right to request of any tenant to verify the above information.
The Seller agrees to deliver the property to Buyer at closing with full occupancy and rent comparable or higher to the rent charged for each unit at the time of the Offer. If there are any vacancies or the rent is lower than originally declared, Seller will make up for six months of lost rents.
Assignment
The Buyer shall have the right, at any time before the signing of the deed of sale, to sell the promise to purchase to another person(s) or corporation, either existing or in the process of becoming incorporated, all at the sole discretion of the Buyer, and from the date of the sale, the Buyer will be released from the promise to purchase and any deposit paid by the Buyer will be returned in full without interest or penalty.
Property Viewing, Right to Show and Inspection
The Seller agrees to cooperate in providing access to the property for the purpose of viewing the property. Buyer reserves the right to show the property prior to closing to any and all prospective
occupants or partners, up to the closing date, with 24 hours notice."
"This Offer is conditional upon the inspection of the subject property by the Buyer or the Buyer’s building inspector, at the Buyer’s own expense, and obtaining a written report satisfactory to the Buyer, at its sole and absolute discretion, by September 30th, 2020, failing which this Offer shall be null and void and the deposit shall be returned to the buyer in full without interest or penalty.
Insurance Coverage
This Offer is conditional upon the Buyer arranging, at its own expense, satisfactory insurance coverage to him on the said property by September 30th , 2020, failing which this Offer shall be null and void and the deposit shall be returned to the Buyer in full without interest or penalty.
Approval
This Offer is conditional upon the approval of the terms hereof by the Buyer’s Partner(s) and Lawyer, failing which this Offer shall become null and void and the deposit shall be returned to the Buyer in full without interest or penalty.
The seller can continue to offer the property for sale and in the event the seller receives another offer satisfactory to the seller, the seller may notify the buyer. The buyer shall have 48 hours from the giving of such notice to waive this condition by notice in writing
delivered to the seller, failing which this offer should be null and void, and the buyer's deposit should be returned in full without reduction."
"Purchase Option Contract
THIS PURCHASE OPTION CONTRACT is made and entered into this 01 day of May 2019 by and between:
OPTIONOR: Your Management Co. (referred to herein as Optionor) OPTIONEE: Tenant Buyer (referred to herein as Optionee).
IN CONSIDERATION of the Optionee's promises herein AND of other valuable consideration AND the sum of One Dollar ($1.00) now paid by each party to the other(s), the receipt and sufficiency of which is hereby acknowledged by each party AND subject to the terms and conditions set out in this agreement, the parties agree as follows:
1. Provided that the Optionee has never been in default pursuant to the Optionee’s Tenant Lease Agreement (“Lease”) nor this Purchase Option Contract, OPTIONEE SHALL HAVE THE OPTION TO PURCHASE (the “Option to Purchase”) the property located at 123 ABC St, Kitchener, ON XXX YYY (the ""Property"").
THIS OPTION WILL EXPIRE WITHOUT NOTICE AND SHALL BE OF NO FURTHER EFFECT IF NOT EXERCISED ON OR BEFORE (“Option Expiry
Date”):
2. The Optionee, desiring to exercise the Option to Purchase on the Option Expiry Date, must give the Optionor written notice (“Notice”) at least 90 days prior to the Option Expiry The Optionee understands that the exercise of the Option is not to be conditional on the Optionee obtaining satisfactory financing; and the Optionee shall, before exercising the Option to Purchase , first satisfy itself that it has an appropriate mortgage commitment. Optionee understands that TIME IS OF THE ESSENCE for this agreement, and that the Optionee’s failure to exercise the Option to Purchase in the manner prescribed herein, or the failure to purchase the property by the specified Option Expiry Date, for any reason, will result in the immediate Termination of this Agreement and the Option to Purchase shall be deemed null and void by 5:01 p.m. on the specified closing date. ALL MONIES paid by the Optionee will be retained by the Optionor as liquidated damages.
3. OPTIONOR AND OPTIONEE AGREE THAT THIS CONTRACT IS NOT an instalment
contract, nor a contract for deed, nor a contract for sale (or like document) nor equitable mortgage (or like document), but merely Optionee’s Option to Purchase the above referenced property under the terms stated in this agreement.
4. PURCHASE PRICE OF THE PROPERTY: The purchase price of the Property is $440000 The purchase price shall be paid by credit for the initial Option Consideration as described below plus the amount of any Additional Option Consideration amount and any other Option Consideration as accumulated over the term of the Option Agreement plus the remaining purchase amount due on closing of the purchase as follows:
The Optionee to obtain new unconditional financing on or before ‘date’ (30 days before closing)"
"The applicable Purchase Price shall be subject to adjustments. Realty taxes, including local improvement rates; mortgage interest; rentals; unmetered public or private utilities and fuel where billed to the Unit and not the Condominium Corporation; are to be apportioned and allowed to the day of completion, the day of completion itself to be apportioned to the Optionee. If this is a condominium, the following also applies; Common Expenses and there shall be no adjustment for the Optionor's share of any assets or liabilities of the Condominium Corporation including any reserve or contingency fund to which Seller may have contributed prior to the date of completion.
5. THE OPTION CONSIDERATION: The Optionee agrees to pay the Optionor the sum of
$ xxxxxx.xx for this Option to Purchase and the Option Consideration shall be paid as follows:
(Certified Funds, Bank Draft or agreed upon assets i.e. camper)"
"The entire Option Consideration is non-refundable. The Option Consideration amount shall be applied toward the down payment on the property if and only if Optionee exercises the Option to Purchase.
6. MONTHLY PAYMENTS - Additional Option Consideration: The Optionee agrees to pay the Optionor, in addition to the terms set out in the Tenant Lease Agreement, the sum of
$ on the first day of each month (“Additional Option Consideration”).Subject to Paragraph 9 hereof, the Optionor shall have no obligation to repay to the Optionee the Additional Option Consideration if the Optionee defaults pursuant to the Lease, does not exercise the Option as herein provided, and/or does not complete the purchase of the Property. The Optionee acknowledges that rent paid pursuant to the Lease shall NOT be applied to the Purchase Price.
7. DEFAULT: Optionee agrees and understands that a fundamental condition of this Purchase Option Contract is that all terms and conditions of both the Optionee’s Lease and/or this Purchase Option Contract must not be in default, or expired, or this Purchase Option Contract will be null and void. To further clarify, all covenants of said Lease and this Purchase Option Contract must have been fully performed by the Optionee in order for this Option To Purchase to be valid and enforceable. This includes, but is not limited to, the repairs, maintenance and upkeep of said property, payment or other obligations required under such Lease and or Option to Purchase. Default of any of the terms and conditions of said Lease and or Option to Purchase by the Optionee will result in this Option To Purchase being automatically null and void and any monies paid hereunder as option consideration will be retained by Optionor as liquidated damages and not as a penalty. Default includes, but is not limited to, failure to make any lease or monthly option consideration payments by midnight on the 1st day of the month.
The Optionee agrees that the Optionee’s rights herein are subject to the Optionee complying with all of the terms and conditions of the Lease and of this Purchase Option Contract. If the Optionee defaults pursuant to the Lease, that default shall be deemed to be default pursuant to this Purchase Option Agreement. The Optionee acknowledges that this term is fundamental to
this agreement without which the Optionor would not have entered into this agreement."
"Optionee’s Initials:
8. REGISTRATION OF THIS PURCHASE OPTION CONTRACT ON TITLE:
A filing of a caveat against the subject legal title by the Optionee, referring to potential rights under this Option of Purchase, will result in the automatic revocation and cancellation of this Option To Purchase and all monies will be retained by the Optionor as liquidated damages and not as a penalty. In addition Optionee will be liable to Optionor for all incidental and consequential damages for slander of title or the wrongful filing of a caveat, including but not limited to solicitor and his own client costs on a full indemnity basis.
9. OPTION CREDIT: Upon the closing of the Purchase following the exercise of the Option, the Optionor shall give the Optionee a credit in the amount of $ (“Option Credit”) for each month the Additional Option Consideration was paid in full and on time.
10. THIS OPTION TO PURCHASE CONTRACT, OR ANY INTERESTS ARISING FROM OR CONTAINED HEREIN, ARE NOT TRANSFERABLE OR ASSIGNABLE and the Options To
Purchase can only be exercised by the individual(s) signing this Purchase Option Contract.
11. REPAIRS, MAINTENANCE AND INSURANCE:
The Optionee shall be responsible for all repairs, maintenance, costs, service charges, painting improvements, and additions to the property up to $750 on a per-occasion basis. All repairs that have the potential of exceeding $750 per occasion must be approved in writing by the Optionor prior to the commencement of any work or purchase of materials related thereto. The Optionor agrees that it is responsible for all amounts over $750 on a per occasion basis other than those uncovered during the building inspection and/or highlighted in the ""Building Inspection Sign Off Form"" - Schedule A.
The Optionor has disclosed all relevant facts about the property. The Optionor makes no representation about any aspect of neighborhood or other facts or knowledge that are in the public domain of which the Optionor may or may not have knowledge.
Optionee shall take an active role to insure that the property stays in excellent condition. Optionee agrees that s/he has had adequate opportunity to inspect the condition of the property, the improvements, utilities, electrical, plumbing, appliances or any defects of the property or the neighbourhood. Optionee has the right to paint and decorate the property at his/her discretion within tasteful guidelines. Optionee agrees to get written acceptance from the Optionor to accept the colour of the paint to be used either inside or outside or before making any alterations or additions to the property. Optionee further agrees that all work that requires a permit from the city is at the Optionee’s expense and responsibility. All work performed on the building either by Optionee or other Contractors or any other parties shall be as an independent contractor or agent of the Optionee and not as an agent or employee of the Optionor. Optionor has no right of supervision of the work performed. Optionee further warrants that s/he will be accountable for any mishaps and/or accidents resulting from such work, and will defend, indemnify and hold the Optionor or his/her agent free from any claims from any other person, corporation, or entity. Optionee further acknowledges and agrees that all improvements, of any kind, to the property belong to the Optionor until such time that the Optionee actually becomes owner of the property pursuant to this Agreement.
12. ORDINANCES & STATUTES: The Optionee and the Optionor shall comply with all municipal, provincial, and federal laws, statutes, and ordinances now in effect, or which shall be enacted in the
future, and any violation of such by the Optionee shall be default pursuant to this Purchase Option"
"Contract. Furthermore, the Optionee and the Optionor shall abide by any and all restrictive covenants and caveats on title.
Optionee has no right to, and shall not cause any lien to be placed against the subject legal title. Optionee will be liable to Optionor for all incidental and consequential damages for slander of title or the wrongful filing of a caveat, including but not limited to solicitor and his own client costs on a full indemnity basis.
13. ACKNOWLEDGEMENTS: The Optionees acknowledge that they have read and understood this Purchase Option Contract, have been given an executed copy of same. The Optionees to this contract further have been advised to seek legal, tax, technical expertise and any other counsel of their choosing concerning this contract prior to signing. This supersedes all prior written or oral agreements. There shall be no further additions or changes to this agreement unless the same is reduced to writing and signed by both parties.
14. SUBJECT TO OTHER AGREEMENTS: The parties to this contract specifically acknowledge and agree that this Purchase Option Contract is subject to and shall be interpreted in accordance with the Renting to Own Payments Agreement executed by the Optionee on the day of , 20 and the Lease entered into by the parties on the day of , 20 .
15. BINDING EFFECT: This Purchase Option Contract and the agreements referred to herein shall be binding upon and inure to the benefit of the parties and their respective heirs, executors, administrators, successors and assigns.
16. THIS OPTION is subject to the Optionor becoming the registered owner of said property by
, 20 ."
"Optionor Date Witness Signature Date"
"Per:" 2012 "Print Witness Name"
"Optionee Signature Date Witness Signature Date"
"The Buyer agrees to pay the balance of the purchase price, subject to adjustments, to the Seller on completion of this transaction, with funds drawn on a lawyer's trust account in the form of a bank draft, certified cheque or wire transfer using the Large Value Transfer System.
The terms and conditions of this Schedule A shall prevail in the event of a conflict with the terms and conditions of the attached standard Agreement of Purchase and Sale.
This Offer is conditional upon the Buyer arranging, at the Buyer's own expense, a new first mortgage satisfactory to the Buyer in the Buyer's sole and absolute discretion. Unless the Buyer gives notice in writing delivered to the Seller personally or in accordance with any other provisions for the delivery of notice in this Agreement of Purchase and Sale or any Schedule thereto not later than 60 business days after acceptance of this offer, that this condition is fulfilled, this Offer shall be null and void
and the deposit shall be returned to the Buyer in full without deduction. This condition is included for the benefit of the Buyer and may be waived at the Buyer's sole option by notice in writing to the Seller as aforesaid within the time period stated herein.
This Offer is conditional on the purchaser obtaining:
a. An appraisal report,
b. An environmental report,
c. A home inspection, and
d. Insurance
Satisfactory to the Buyer at the Buyers expense in the Buyer's sole and absolute discretion within 60 banking days of acceptance of this offer, failing which, this offer shall become null and void and the Buyer's deposit returned in full without interest. This condition is included for the benefit of the Buyer and may be waived at the purchaser's sole option by notice in writing to the seller within the time period stated herein. The Buyer and Seller agree that all prepaid expenses shall be included in the purchase price.
This offer is conditional upon the inspection and approval of the subject property by the Buyers Partners and the approval of the terms hereof by the Buyers partners and Solicitor.
Buyer shall have the right at any time prior to closing to assign the within Offer to any person, persons or corporation, either existing or to be incorporated, and upon delivery to the Seller of notice of such assignment, together with the assignee's covenant in favour of the Seller to be bound hereby as Buyer. The Buyer hereinbefore named shall stand released from all further liability hereunder.
Seller agrees to provide the Buyer with an up to date certificate confirming that the property complies with all applicable sections of the Ontario Fire Code within 30 banking days after acceptance of this offer.
Seller agrees to provide the Buyer with an up to date ESA Inspection Report stating all electrical work in the building complies with the Electrical safety authority within 30 banking days after acceptance of this offer.
This Offer is conditional upon the Buyer being satisfied with statements of income and expense for the previous 2 years, current rent roll and current leases and any contracts pertaining to the operation of the property and any arrears in rent which the Seller agrees to provide within 5 banking days of acceptance of this Offer, including Income receipts for all apartments, tax, insurance, hydro, gas and water bills for same period as well as receipts for any other expenses and improvements to the property failing which the deposit will returned in full without deduction.
The Seller agrees to deliver the property to Buyer at closing with full occupancy and rent comparable or higher to the rent charged for each unit at the time of the Offer. If there are any vacancies or the rent is lower than originally declared, Seller will make up for six months of lost rents."
"The Seller agrees to cooperate in providing access to the property for the purpose of viewing and showing the property with 24 hours written notice from the Buyer.
Upon completion, the Seller shall provide a notice to all Tenants advising them of the new owner and requiring all future payments to be paid as the Buyer directs. The Seller will pay to the Buyer any payment paid to the Seller in error or in violation of the direction for a period of two months following completion, after which period the Seller may refuse to accept Payment from guests or return it to them. The Buyer agrees to accept all tenancies that are existing at completion.
The Seller shall not enter into any new contracts / leases without prior consent of the Buyer's approval after acceptance of this offer.
The Seller agrees to also provide the Buyer with an ""Acknowledgement by Tenants"" signed by each Tenant outlining the key terms and conditions of their stay and what the rent includes and also any arrears in rent and an updated rent roll 14 days prior to completion of this transaction. The Buyer maintains the right to verify any of the above information provided by the Seller within 1 week of completion of this transaction. If there is more than a 2% discrepancy from the initial Rent Roll, the Buyer reserves the right to renegotiate the purchase price, or may rescind on the transaction and the deposit returned in full without deduction.
The Seller agrees to take back a second Charge/Mortgage in the amount of thirty five thousand dollars ( ) bearing interest at the rate of % per annum, repayable interest only monthly payments and maturing on .
This Charge/Mortgage shall contain a clause permitting the renewal or replacement of the existing first Charge/Mortgage at any time, provided that any increase in the principal amount of the new first Charge/ Mortgage over the amount of principal owing under the first Charge/Mortgage at the time of renewal or replacement shall be applied in reduction of the principal amount of this Charge/Mortgage; and the Chargee/Mortgagee hereunder shall execute and deliver to the Chargor/Mortgagor such postponement agreement, Charge/Mortgage Statement, or other documents as the new first Chargee/Mortgagee may reasonably require, forthwith upon request.
This Charge/Mortgage shall contain a clause permitting the Chargor/Mortgagor, when not in default, the privilege of prepaying all or part of the principal sum outstanding at any time or times without notice or bonus.
This Charge/Mortgage shall contain a clause permitting the Chargor/Mortgagor, when not in default, the privilege of renewing this Charge/Mortgage on its maturity, for a further term of year(s) on the same terms and conditions save and except for the right to any further renewal.
The SeIler agrees to discount the Mortgage by $ if the Buyer pays off the mortgage within 1 year of completion of this offer."
"STANDARD PURCHASE AND SALES AGREEMENT
Parties (BUYER) and SELLER), which terms may be singular or plural and will include the heirs successors, personal representatives and assigns of Seller and Buyer, hereby agree that Seller will sell and Buyer will buy the following property, upon the following terms and conditions if completed or marked. In any conflict of terms or conditions, that which is added will supersede that which is printed or marked. The Property is in County, and is described as follows (If lengthy, attach legal
description) ."
"Address Zip .
It is understood that the Property will be conveyed by General Warranty Deed (unless otherwise required) subject to taxes, existing zoning (unless otherwise specified in paragraph 16), covenants, restrictions and easements of record.
1. Total Purchase Price to be paid by Buyer is payable as follows:
A. Binder deposit which will remain as a binder until closing, unless sooner forfeited or returned,
according to the provisions in this Agreement. $
B. Additional binder deposit due within days after date of this agreement."
"$
C. Balance due at closing (not including Buyer’s closing cost, prepaid items or prorations) in U.S. cash or locally drawn certified or cashier's check approximately exactly .
$ "
"D. Proceeds of a new loan to be executed by Buyer to any lender other than Seller. $
E. Purchase money loan to Seller on terms set forth in Paragraph 2B."
"$
F. Other financing .
$
G. Existing mortgage balance encumbering the Property to be taken subject to by Buyer (approximately).
$ "
"H. Total Purchase Price - approximately exactly $ "
"2. Financing:
A. Financing of property has to be acceptable to the buyer. If acceptable financing is not procured by then all deposits will be returned in full.
3. Buyer Will Pay:
A. Closing Costs [ ] Recording fees [ ] Note stamps [ ] Intangible tax [ ] Credit reports [ ] Loan transfer and assumption charges [ ] VA funding fee [ ] Loan origination fee [ ] Loan insurance premium [ ] Loan discount not to exceed [ ] Wood Destroying Organism Report
B. [ ] Appraisal [ ] Survey [ ] Title Insurance Policy [ ] Other "
"4. Seller Will Pay:
A. Closing Costs [ ] Transfer tax [ ] Title insurance policy [ ] Attorney's fee
[ ] Real estate brokerage fee [ ] Loan discount not to exceed [ ] Satisfaction and recording fee [ ] Repairs or replacements, in addition to those in paragraph 9, not to exceed $
[ ] Wood destroying organism report [ ] Appraisal fee [ ] Survey [ x ] Other "
"B. All other charges required by lender which Buyer is prohibited from paying by law or regulation.
C. All mortgage payments or condominium and association fees will be current at Seller's expense at the time of closing.
5. Payment of Expenses: If Buyer fails to perform, all loan and sale processing and closing costs incurred, whether the same were to be paid by Seller or Buyer will be the responsibility of the Buyer, with costs deducted from binder deposit. If Seller fails to perform, all loan, sales processing and closing costs incurred whether same were to be paid by Seller or Buyer will be the responsibility of Seller, and Buyer will be entitled to the return of the Binder deposit This will include, but not be limited to the transaction not being closed because Seller is unable to complete the transaction for a qualified Buyer, or because the property does not appraise for an amount sufficient to enable the lender to make the required loan, or because Seller elects not to pay for the excess amount in paragraphs 4 (with respect to repairs), 9, or 11, or because the zoning is not as required in paragraph 16 or because Seller cannot deliver marketable title.
6. Prorations: All taxes, rentals, condominium or association fees, prepaid hazard insurance premiums (if assumed), monthly mortgage insurance premiums and interest on loans will be prorated as of the date of closing. BUYER SHOULD NOT RELY ON THE SELLER’S CURRENT PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE COUNTY PROPERTY APPRAISER’S OFFICE FOR INFORMATION.
7. Title Evidence: Within days [ ] after acceptance [ ] after date of satisfaction of all conditions in paragraph 19. Seller will deliver to Buyer or closing attorney [ ] Title insurance commitment for an owner's policy in the amount of the purchase price. Any expense of curing title including but not limited to legal fees, discharge of liens and recording fees will be paid by Seller
8. Survey: Within days [ ] after date of acceptance [ ] after date of satisfaction of all conditions on paragraph 21, Seller will deliver to Buyer or closing attorney [ ] A new staked survey dated within 3 months of closing showing all improvements now existing thereon and certified to Buyer, lender and the title insurer [ ] A copy of a previously made survey of the Property showing all improvements now existing thereon. [
] No survey is required.
9. Wood destroying Organism Report: “Wood Destroying Organism” means any arthropod or plant life which damages a structure. Buyer may have property inspected by a Certified Pest Control Firm to determine whether there is any visible active wood destroying organism infestation or visible existing structural damage from wood destroying organisms to the improvements. If Buyer is informed of either or both of the foregoing, Seller will have seven (7) days from receipt of written notice thereof within which to have all such wood destroying organism damages whether visible or not inspected and estimated by a licensed building or general contractor. Seller will pay costs of treatment and repairs of all structural damage up to one percent (1 %) of the purchase price. If such costs exceed the amount agreed to be paid by Seller and Seller declines to treat and repair, Buyer will have the option of (a) terminating this Agreement or,(b) proceeding with the transaction in which event Seller will bear costs equal to one percent (1 %) of the purchase price.
10. Title Examination and Time for Closing:
A. If title evidence and survey, as specified above, show Seller is vested with a marketable title, subject to the usual exceptions contained"
" days after the date of acceptance, or [ ] days after date of satisfaction of all conditions in paragraph 19 unless extended by other conditions of this Agreement or this agreement is cancelled by the Buyer.
B. If title evidence or survey reveal any defects which render the title unmarketable, Buyer will have 7 days from receipt of title commitment and survey to notify Seller of such title defects and Seller agrees to use reasonable diligence to cure such defects at Seller's expense and will have 30 days to do so, in which event this transaction will be closed within 10 days after delivery to Buyer of evidence that such defects have been cured. Seller agrees to pay for and discharge all due or delinquent taxes, liens and other encumbrances, unless otherwise agreed. If Seller is unable to convey to Buyer a marketable title, Buyer will have the right to terminate this agreement at the same time returning to Seller all title evidence and surveys received from Seller, or Buyer will have the right to accept such title as Seller may be able to convey and to close this transaction upon the terms stated herein, which election will he exercised within 10 days from notice of Seller’s inability to cure.
11. Loss or Damage: If the property is damaged by fire or other casualty prior to closing, and cost of restoration does not exceed 3% of the assessed valuation of the improvements located on the Property, cost of restoration will he an obligation of the Seller and closing will proceed pursuant to the terms of this Agreement with cost thereof escrowing at closing. In the event cost of restoration exceeds 3% of the assessed valuation of the improvements and the Seller declines to repair or restore, Buyer will have the option of either taking the Property as is, together with either the said 3% or any insurance proceeds payable by virtue of such loss or damage, or of canceling this Agreement.
12. Seller agrees to deliver the Property in its PRESENT AS IS CONDITION except as otherwise specified herein. Seller does hereby certify and represent that Seller has legal authority and capacity to convey the property with all improvements. Seller further certifies and represents that Seller knows of no latent defects to the property and knows of no facts materially affecting the value of the property except the following: Description of problems .
Buyer has inspected the property and HAS NOT RELIED UPON ANY REPRESENTATIONS MADE BY ANY REAL ESTATE AGENT in describing the property, and Buyer accepts the property in its PRESENT AS IS CONDITION, except as otherwise specified herein.
13. Occupancy [ ] Seller represents that there are no parties in occupancy other than Seller. Buyer will be given occupancy at closing unless otherwise specified
herein . [ ] Buyer understands that property is available for rent or rented and the tenant may continue in possession following closing unless otherwise agreed in writing. Deposits will he transferred to Buyer at closing.
14. Personal Property: included in the purchase price are all fixed equipment including ceiling fans, drapery hardware, attached lighting fixtures, mailbox, fence, plants and shrubbery as now installed on the property. And these additional items
. Items specifically excluded from
."
"15. Default and Attorney's Fees: If Buyer defaults on this agreement, all deposits will be retained by the Seller as full settlement of any claim, whereupon Buyer and Seller will be relieved of all obligations under this agreement. If Seller defaults under this Agreement, the Buyer may seek specific performance or elect to receive the return of the Buyers deposit(s) without thereby waving any action for damages resulting from Seller's breach. In connection with any litigation arising out of this Agreement, the prevailing party will he entitled to recover all costs including a reasonable attorney's fee
16. Zoning and Restrictions: Unless the Property is zoned and can he legally used for use, or if there is notice of proposed zoning changes, deed or other restrictions that could prevent such use at time of closing, Buyer will have the right to terminate this Agreement. Buyer will have 10 days from acceptance to verify the existing zoning and current proposed changes, and deliver written notice of objections to Seller or be deemed to have waived objections under this paragraph.
17. Assignment: The Buyer shall have the right, at any time before the signing of the deed of sale, to sell the promise to purchase to another person(s) or corporation, either existing or in the process of becoming incorporated, all at the sole discretion of the Buyer, and from the date of the sale, the Buyer will be released from the promise to purchase and any deposit paid by the Buyer will be returned in full without interest or penalty.
18. Property Viewing, Right to Show and Inspection: The Seller agrees to cooperate in providing access to the property for the purpose of viewing the property. Buyer reserves the right to show the property prior to closing to any and all prospective occupants or partners, up to the closing date, with 24 hours notice.
A. Approval This Offer is conditional upon the approval of the terms hereof by the Buyer’s Partner(s) and Lawyer, failing which this Offer shall become null and void and the deposit shall be returned to the Buyer in full without interest or penalty.
19. The offer of BUYER shall terminate if SELLER has not indicated his acceptance of this Agreement by signing and delivering same or telegraphing acceptance to Buyer or submitting agent before :01 [ ] AM [ ] PM Date "
"20. Additional Terms, Conditions or Addenda (lettered A, B,.C,.D.etc.)"
"21. Timing: The timing of paragraphs 7,8,9, and 10(A) will become operable after satisfaction of paragraph 2, if applicable, and those additional conditions lettered in Paragraph 18.
22. There are no other agreements, promises or understandings between these parties except as specifically set forth herein. This legal and binding agreement will be construed under Law, will not be recorded and if not understood, parties should seek competent legal advice.
TIME IS OF THE ESSENCE IN THIS AGREEMENT."
"23. Signed sealed on the date herein stated"
"Buyer" "Date of Offer" "Buyer"
"Seller" "Date of Acceptance" "Seller"
"amount mentioned in paragraph 1A of this Agreement."
"Agent Date Seller"
"Tenant Lease Agreement- Canadian"
"THIS LEASE AGREEMENT is made and entered into this day of , 20 by and between hereafter referred to as “Landlord”, and,
hereafter referred to as “Tenant”.
PROPERTY ADDRESS: Landlord leases to Tenant and Tenant leases from Landlord, upon the terms and conditions contained herein, the dwelling located at in the city of , Province of .
LEASE TERM: months for the period commencing on the: day of , 20 and thereafter until the day of , 20 at which time this lease agreement shall terminate.
RENT: Tenant shall pay as rent the sum of $ , per month, due and Payable monthly on the first day of the month. Rent may be mailed through the Post Office at the Tenant’s risk. Any rents that are late or lost in the mail are treated as if unpaid until received by Landlord. Tenant further agrees to pay a late charge of $50.00, plus $10.00 a day, for each day the entire rent is not received by the Landlord by the first day of the month regardless of the cause, including dishonoured cheques, time being of the essence. If rent is received after the first of the month and late fees as defined herein are not included with such payment, rent is considered unpaid. Any payment received by Landlord is applied firstly toward collection costs, including costs of a solicitor and his own client full indemnity basis, secondly towards rental arrears and then towards rent.
An additional Service Charge of $50.00 will be paid to Landlord for all dishonoured cheques. If Tenant cheques are dishonoured, Landlord shall have the right to demand certified cheque or money orders on all future payments. If any Provincial rent control laws do not allow the above procedure or any procedure contained in this lease then the Provincial law(s) shall prevail.
OCCUPANTS: Tenant agrees to use said dwelling as occupancy only for adults and children whose names are as follows:"
"And to pay an additional $50.00 each month for each additional person who shall occupy the premises in any capacity and is not listed above.
PETS: Any pets kept on the property without the permission of the Landlord in writing shall be a breach of this lease. The following pet(s) shall be kept on the premises:"
"Landlord requires a picture of the pet(s), copy of municipal licence, tag or equivalent and a copy of Rabies and Distemper Vaccination.
NO ASSIGNMENT: Tenant agrees not to assign this lease, nor to sublet any portion or the property, nor to allow any other person to live therein other than persons named above without first"
"obtaining written permission from Landlord. Tenant will be responsible for all administrative costs incurred by Landlord.
Further, it is agreed that covenants contained in this lease, once breached, cannot afterward be performed and that legal proceedings may be commenced at once, without notice to the Tenant, (other than any notice required by Provincial laws).
ENFORCEABILITY: Should any provisions of this lease be found to be invalid or unenforceable, the remainder of the lease shall not be affected thereby and each term and provision herein shall be valid and enforceable to the fullest extent permitted by law.
NO WAIVER: All rights given to the Landlord by this lease shall be cumulative to any other laws, which might exist or come into being. Any failure of the Landlord to enforce any of the provisions or restrictions herein contained shall in no way be deemed a waiver of the right to do so thereafter or insist upon strict compliance of the terms hereof. No statement or promise of the Landlord, servants or his agent as to tenancy, repairs, alterations, or other terms and conditions shall be binding unless reduced to writing and signed by Landlord.
UTILITIES: Tenants are responsible for the payment of the following utilities:"
"Heat" "Electricity" "Garbage" "Water/Sewer"
"Taxes" "Telephone" "Gas/Oil" "Association Fees"
"Snow Removal" "Lawn Care"
"and any other bills incurred during the term of this lease.
INSURANCE: Tenant agrees it is the responsibility of the Tenant to insure the Tenant’s property on the premises against damage or loss of such property occasioned by fire, theft and any other perils. The Tenant’s policy shall waive all rights of subrogation against the Landlord and it’s servants, agents and contractors. The Tenant hereby waives and releases the Landlord from any liability whatsoever for damage or loss to any persons or property whatsoever which occurs in or in connection with the Premises and any improvements, building or property thereon or from the Tenant’s use of the premises however caused, including loss due to negligence or fault of the Landlord and its servants, agents or contractors (Tenant to look to its own insurance and insurers for recovery of and protection against any such loss or damage). Without limiting the generality of the foregoing, the Landlord shall not be responsible for any loss of Tenant’s property in the premises or stored in, at or near the building due to any cause whatsoever.
Tenant shall on demand provide a copy of insurance to the Landlord. Tenant is hereby notified to obtain insurance to cover loss on his/her personal belongings located in the Premises or on the"
"Initial:"
"grounds where Premises are situated. .............................................................................. "
"EMERGENCY ACCESS: Landlord has the right of emergency access to the leased premises at any time and access during reasonable hours to inspect the property or show it to prospective tenants with a 24 hour notice to Tenant. Landlord shall retain a key at all times. If the Tenant wishes to change the locks, s/he must notify the Landlord in writing and provide a new key immediately.
CONDITION OF PREMISES: Landlord and Tenant hereby agree to inspect the Premises at the commencement of the tenancy and upon termination or expiration of this Agreement, and that the condition of the premises at the aforesaid times will be noted on the Inspection Report which forms part of this agreement. The Inspection Report will be signed by both the Landlord and the Tenant. The Inspection Report may be used and relied upon by the Landlord as proof of the condition of the
Premises at the time of Inspection and for determining damages and or seeking appropriate deductions or compensation from the Tenant. Landlord reserves the right to take photographs at both"
"aforesaid times for further documentation to the condition of the Premises.
MAINTENANCE COSTS: The Tenant shall be responsible for the cost of repairing plugged toilets, sinks, and drains, and for the cost of replacing all windows and screens broken by the Tenant, employees, contractors, invitees or guests. The Tenant shall be responsible for replacing light bulbs, fluorescent tubes, stove fuses, broken toilet seats and any other damaged items. The tenant shall be responsible for damages caused by windows and doors being left open including cost of repairing and cleaning. The Tenant shall also be responsible for damage due to fire caused by the Tenant negligence i.e.: careless smoking, cooking, etc. The Tenant agrees to immediately report to the Landlord any and all damage that may occur to the Premises and or Property by way of, but not limited to, accident, breakage or defect throughout the continuance of this tenancy. In the event Tenant fails to complete maintenance/ repairs, that are the responsibility of the Tenant, the Tenant agrees to immediately reimburse Landlord for all monies expended to complete said repairs.
AID IN MAINTENANCE: The Tenant shall cooperate with the Landlord in the care and maintenance of the Premises and or Property including any improvements.
DEFAULT: To further clarify the terms of this lease, the Tenant shall make certain that rent is received by the Landlord by the first of the month or the Landlord shall consider this lease to be breached and terminated if the rent has not been received before midnight on the first day of the month that the rent was due. The acceptance by Landlord of partial payments of rent due shall not, under any circumstances, constitute a waiver of Landlord, nor affect any notice or legal proceedings therefore given or commenced under Provincial law. If Tenant defaults on any other provisions of the lease, including but not limited, to any misrepresentations on Tenant’s application, Landlord, at his/her option, can elect to continue the lease or terminate the lease and take possession of the property by any legal means available to him/her. Landlord is not required to give any notice to cure a violation of the lease, other than what is required by law.
ORDINANCES & STATUTES: Tenants shall comply with all municipal, provincial, and federal laws, statutes, and ordinances now in effect, or which shall be enacted in the future, and any violation of such shall be a complete and material breach of the lease.
LEGAL ACTION: Tenant agrees without protest, to reimburse Landlord for all actual and reasonable expenses incurred by way of Tenant’s violation of any term or provisions of this lease, including but not limited to a $50.00 fee for each notice, Notice to Quit, or other notices mailed or delivered by Landlord to Tenant due to Tenant’s non-payment of rent or other breach of lease, all court costs and including costs of a solicitor and his own client full indemnity basis , and all collection costs. Any such costs are due immediately as additional rent. Any payments received by Landlord will be applied first towards late fees and/or other additional charges, then toward rent. Both Landlord and tenant waive trial by jury and agree to submit to the personal jurisdiction and venue of a court of subject matter whose jurisdiction is located in the area in which the property is located. In such event, no action shall be entertained by said court or any other court of competent jurisdiction, if filed more than one (1) year subsequent to the date the cause(s) of action accrued.
WAIVER OF CLAIMS: Tenant hereby waives any and all rights to assert affirmative defences or counterclaims in any eviction action instituted by Landlord with the exception of an affirmative defence based upon payment of all amounts claimed by the Landlord not to have been paid by the
Tenant. Other matters may be only advanced by Tenant in a separate lawsuit."
"DAMAGE BY FIRE: In the event that the building(s) is damaged by fire and through no fault of the Tenant and cannot be restored within a reasonable time in the sole and unfettered discretion of the Landlord, this lease shall terminate with no further liability of either party.
MERGER CLAUSE: This agreement shall constitute the full and complete understanding of the parties and supersedes all prior written or oral agreements. There shall be no further additions or changes to this agreement unless the same is reduced to writing and signed by both parties.
(Handwritten Notes)
1. “I promise to keep the property up to all codes and to keep the property in a good state of repair as long as I am leasing or in the property.”
2. “I understand that if I am behind on my rent payments, I will be evicted as permitted by Provincial law.”"
"Landlord Date Witness Signature Date
Per: (signature) Print Name Print Witness Name"
"Tenant Signature Date Witness Signature Date"
"Print Witness Name"
"Tenant Signature Date Witness Signature Date"
"Print Witness Name"
"DAY TWO NOTES
BOOKS AND AUTHORS - AIRBNB MASTERY - RICH DAD POOR DAD, WHO TOOK MY MONEY,
Anything by author Robert Kiyosaki. MOVIE SUGGESTION - The Big Short
DEFINITIONS FOR ABBREVIATIONS
OPM - Other Peoples Money OPC - Other Peoples Credit OPT - Other Peoples Time
P.P. - Purchase Price LTV - Loan To Value
HML - Hard Money Lenders FMV - Fair Market Value MR - Monthly Revenue
MOE - Monthly Operating Expenses MP - Monthly Payment
PCF - Positive Cash Flow ROI - Return On Investment
D.P. - Down Payment
J.V.P - Joint Venture Partner
Time is everything - What is the difference between Rich and Wealth. Rich means you have a lot of money, Wealth means you have an abundance of what is important to you (time with family, ability to give to people in need).
Stop Thinking and start doing. Work past the skeptics and being scared of failer and start to WORK!!!
WHOLE SALE works when nothing else is. LEASE - Rent to own, Invest with a purpose DEBT - Leveredge
REALTOR - Gets paid by seller
STOP LOOKING FOR HOUSES AND START LOOKING FOR PROBLEMS
Buy property with other peoples money"
"FOUNDATION
SEVEN RULES OF INVESTING
1. MAKE MONEY IN THE BUY!!!
2. ADD VALUE - How? Renovation? Help with financing? Change use of home from single family to Short Term Rental or Recover House (Pays per bed).
3. Make Offers - Send to PIP
4. Have exit strategies
5. Be embarassed of first offer.
6. Be legal
7. Have Integrity
- No one wants to give you money.
- Everyone wants to give you opinions.
- Show them the money and they will come.
- If purchasing a property that is Non-Owner Occupied then you are going to have to put 20% down.
EXAMPLE
$400K AFTER REPAIR VALUE HOUSE NEEDS WORK
$275,000 P.P. - Purchase Price 80% LTV- Loan to Value
$25K in RENOvations
$220K = LTV
$55k Down Payment
25K RENO + $55K DP = $90 OUT OF POCKET
The Seller Pays the REALTOR
HARD MONEY LENDERS - HML
Asset Based Lending ---> Mortgage broker = will loan 50%-80% After Repair Value - NO CREDIT CHECK - NO INCOME VERIFICATION - NO JOB VERIFICATION. So what’s the catch?
The CATCH/COST - 12%-18% Interest
- 2-10 Points (Points = 1 Percent of Loan Amount)
- 1 Point for TRANSACTION FEE
- They are usually short term loan - about 3 to 12 months"
"HARD MONEY LENDING EXAMPLE
Buy a property for $310,000 with no cash but all credit.
Down Payment is $35,000 and I put on Credit Card at 20%APR HML for 80% to $275,000 interest at 20%
Total is $310,000
APR for both loans is 20%. Cost for 12 months equals $62,000. We hope to sell it in 3 months. In- terest per month is $5,166 = 3 month period is $15,500. (I think this includes all extra points and fees for HML???)
ALL IN COST is $325,000. We used a great realtor at 6% commission. Commission = $24,000
Closing cost = $6,000
Total cost $30,000
We find a buyer for $370,000 Subtract closing cost and commission = -$30,000 Pay back loans -$325,000
Total income = $15,000
If the Realtor is having trouble finding a buyer, give her a bonus or up commission.
EXAMPLE TWO"
"Purchase Real Estate
$100,000 FMV"
"PAID CASH - NO MORTGAGE" "12months of PCF" 9600 0.096
"Use 1% Rule for monthly income = $1,000" 100000 "X100"
"MR = $1,000 MOE = -$200" "ROI = 9.6%"
"MP = -$400"
"PCF = $400 X 12 Months = $4,800 per year"
"ROI = 24%"
"ITS ABOUT CASHFLOW , NOT THE PROPERTY!!! "
"Example of 20% down with 80% loan
$100,000 FMV
-$80,000 80%
$20,000 D.P.
$4,800 .24
$20,000 X100 =ROI 24%" "Example of same property with $15,000 JVP and only
$5,000 DP.
$100,000 FMV
$80,000 LOAN
$15,000 JVP - $3,300
$10,000 DP
Renter pays $1,000 per month - covers cost of mortgage and taxes.
$1,000 MR
-$200 MOE"
"THE MORE YOU GIVE, THE MORE YOU GET! DON’T LET THE GIVE BE ABOUT THE GET!
WHAT YOU GET IS NOT ALWAYS LABELED WITH $$$
RULE OF 72 / MONEY DOUBLING RULE
72/1 = 72 years for money to double --- 72/2 = 36 years --- 72/7 = 10 years (MIDDLE CLASS ROI) 72/10 = 7.2 years
ROI’s WE STRIVE FOR
72/24 = 3 years --- 72/66 = 1.09
PEER TO PEER LENDING
Example = LendingClub.com
Peer to Peer lending gives access to capital / Competetive interest 6-35% / 3-7 years / No repayment penalty.
CreditKarma.com SoFi.com"
"WHOLE SALE – FIND THE PROPERTY TRADITIONAL MARKET VS. HIDDEN"
"TRADITIONAL" "NON-TRADITIONAL"
"MLS REALTOR
WEBSITE - REDFIN/ZILLOW
DRIVE BY AUCTIONS
Create Buyers DATA BASE from Auction" "ADVERTISE BIRD DOG
UBER DRIVERS/TAXI DRIVER ETC...
DIVORCE LAWYERS OBITUARY FUNERAL HOME"
"WHOLE SALE – FIND THE PROPERTY SCRIPT
I had a sign on my car that said “WE BUY HOUSES” and some one called. WHAT DO I SAY???
Hello, this is how can I help you???
Hello it is nice to talk with you. I am a real estate investor and it is my job to help people with real estate problems. Do you have a problem?
If they didn’t give you their name. Hi, I am Rob. What was your name again???"
" Would it be okay if I asked you a couple of questions???
How many beds, baths does it have? Does it have a garage? What is the address of the property? Do you own the property?
With a casual tone and influx ask - Why are you selling the house and where abouts are you moving to?
GET COMPS ON LOCATION WHICH ARE COMPARABLE SOLD PROPERTIES
• Is there any work that needs to be done to the property?
• Please do not fix anything as I buy property AS IS.
• What is the least amount you would take for the property?
• Repeat the number back to them and then say
• HMMMMMMM and shut up and let the silence do the work. (15 to 30 seconds)
• Get it under contract and let the investors decide.
• The contract should state that you have the right to sell or assign contract to a busi- ness partner or corporation.
• Your name should be on the contract as we as AND OR DESIGNATED ENTITY.
• You should have the RIGHT TO SHOW/VIEW on agreement."
"Purchase & Sale Agreement JOE BOB - SELLER
ROB W - BUYER / AND OR
DESIGNATED ENTITY
$125,000
4/15/22 <–––> Length of Contract" "Assignment Contract
JOE BOB - SELLER BILLY - BUYER
$130,000
$5,000 Assignment Fee"
"Employee" "POWER TEAM" "Business"
"Small Business
95% of people on this side" "E" "B" "Investor
5% of people on this side"
"S" "I"
"REALTORS CONTRACTORS ACCOUNTANT APPRAISER
DOFIR
(pronounced Do Fir) someone you have do things for you." "MENTORS COMMUNITY BANKERS
Good way to find community bankers ICBA.ORG or NCUA.GOV
Ask which location the decision maker is at and for their name and talk to THAT person."
"Worst place to borrow money is the big banks like Chase or Bank of America. Seek out Mortgage Broker. Get to know at least Four or Five Mortgage Brokers."
"Community banks are a better place to find a loan as they are more creative at finding a way to get you a loan. MAKE SURE YOU TALK TO THE DECIDER!!! Community banks have to loan in their own COMMUNITY (Hence the name COMMUNITY Bank).
SCRIPT FOR MORTGAGE BROKER"
"Hello my name is , it is nice to talk with you. Would it be
okay if I asked you a couple of questions? do you ever have people who want to buy a property and can’t get qualified? can I talk with you about my lease option program so that you can close more deals?"
"OH MY GOODNESS PIP, THE BROKER SAID I COULD TALK WITH THEM ABOUT THE LEASE OPTION PROGRAM!!! NOW WHAT??? DO I JUST TELL HIM THAT I AM GOING TO BE THE LENDER AND THEY ARE GOING TO LEASE FROM ME UNTIL THEY GET THEIR SCORE BACK UP. OR AM I GOING TO TELL THEM THAT I AM GOING TO WORK OUT A OWNER FINANCE
DEAL UNTIL THEY GET QUALIFIED AND I PROMISE I WILL USE THEM AS THE BROKER?"
"(In the mean time I say) - My business partner takes care of that, can I talk with them
and get back to you?"
"Do not call a Mortgage Broker that you know until you get this down good. Talk to Brokers in different states that you are sure you will not be using. Later talk to ones you know so you can seal the deal!"
"It’s okay to make three offers on one property,
Four reasons people have trouble getting a mortgage:
1. MONEY Down payments can be hard for people to save but using a rent to own option will help them save the money to own.
2. CREDIT The higher rent they can handle the more it will help their credit.
3. SELF EMPLOYED Often their income is not steady and makes it harder to get loan.
4. NEW IMMIGRANT New immigrants have no credit history making it hard to get loan.
The above reasons are why we don’t worry about the property and why we look more for the solution to a problem. Would you prefer to rent to a tenent or would you perfer to “rent” to the home owner? Home owners are responsible for problems or repairs with the property. Tenant Buyers will pay 10-40% more than Fair Market Rent because they have the option to buy. With Tenant Buyers your expenses go down and your income goes up.
STOP LOOKING FOR HOMES AND START LOOKING FOR SOLUTIONS!"
"HOLD THE MORTGAGE!
SELLER BENEFITS VS. BUYER BENEFITS"
"TAX ADVANTAGE CASH FLOW
CONTROL OF PROPERTY KEEP ALL PAYMENTS
NO PROPERTY MANAGEMENT CAPITAL GAINS TAX BENEFITS" "NO CREDIT CHECK INTEREST RATE - NEGOTIABLE"
"SELLER FINANCING EVERY TIME!!!"
"LEASE OPTIONS
Here is the scenerio. Mr. Smith wants $400K for his house. You call a realtor to get comps. The realtor call you back and says yes the house is worth $400K. Remember to always make money on the buy, so the goal is to buy the house for 10% under FMV. Ten percent under FMV $400k is $360K. Does that mean your first offer should be
$350K? ABSOLUTELY NOT! You should be embarrased of your first offer. Your first offer should be $340K. DON’T LEAVE MONEY ON THE TABLE! Once you agree, get it under contract and get over to see the house.
The goal is now to get Mr. Smith to hold the mortgage for 30 years. REMEMBER: Each year the value of the house goes up. For the purposes of these examples we will say the value goes up 1% each year. At the time of the purchase of the house the FMV is $400K - at the end of Year 1 FMV = $404K - Year 2 FMV = $408K -
Year 3 FMV = $412K etc...
In the contract with your Tenant Buyer you must make it clear that each year they are in the house the purchase price goes up by a percent you choose. In this case it is one percent. If the buyer is able to buy it right now then they pay $400K and you make the difference. If they decide to rent for a year then they will buy it for $400K and so on.
Tenant Buyer should be prepaired to put down 3-4% of purchase price. This is called a Non Refundable Option Concideration. Because we are not greedy we use the NROC to help with the down payment of the house when they decide to purchase it. The benefit for you is that it will help make sure the deal happens because they don’t have to save as much for the Down Payment."
"Watch this snowflake...
Fair Market Value $400K Purchase Price $350K Percent Down 20% $70K Equity per year $6K
Payment + Interest $1,700 month Taxes + Insurance +$700 month PITI = $2,400 month" "Tenant Buyer decides to buy after one year. Sale price $404K
Owe Mr Smith $344K I made $60K
+ $1200 rent for the year
Use the same formula for two or three year deals."
"LEASE OPTIONS Cont...
Example with investor. You promise investor 10% return on their $70K investment."
"Down Payment $70K (Payed by investor) Mortgage $280K
New PITI $2,000 per month
Monthly Rent $2,500 per month Positive Cash Flow = $500 per month
= $6,000 per year
WHAT IF!
What if buyer decides to get out?
WHEN IN DOUBT WHOLE SALE IT OUT!" "After one year Buyer Tenant buys house.
$404K Purchase Price
$274K To Mr Smith
$130K Paid to me
+$6,000 in rent
$136,000
-$77,000 Owed to investor
$59,000
Be ready to help Buyer Tenant to make down payment if they are running short.
DON’T BE GREEDY!!!"
"PRE FORECLOSURE
What is the difference between Judicial and Non-Judicial?
JUDICIAL - A judge will be involved, takes about 12 months for bank to get property. NON JUDICIAL - Power of sale is pre-determined. 6-9 months before property given back to bank.
When a property goes into forclosure it will cost the bank between $50K-$75K so they do not want to go into forclosure. This also makes the banks credit score (CAMELS) go down. Forclosure is a loose loose situation.
HOW TO FIND PRE FORCLOSURE
Put out an ad that says -
CAN’T MAKE YOUR PAYMENTS?
WE CAN!
IF WE CAN’T BUY YOUR HOUSE IN 7 DAYS WE WILL TAKE OVER YOUR PAYMENTS!"
"HEY PIP, I PUT OUT THAT AD AND SOMEONE CALLED!
NOW WHAT???
Here is what you say:
Hello, this is Rob. Can I help you? I’m sorry, what was your name again? Hello
I am a real estate investor. Can I ask you a few questions? How many bedrooms and bathrooms does it have? Is the garage attached? How many cars can it hold? Where is the property? I would really like to help you so I am going to send you an authorization letter. I will send you the authorization letter and you have to
take it directly to your lender. It must be notorized and they can usually do that right there at the bank. All this does is gives the bank permission to talk with me about your mortgage. Okay, what is your email address? Or would you prefer me to mail it to you? Once you give this to the lender you have to instruct them to call me, I have to wait for their call.
After some time CALEB the banker calls and he gives you the property details.
$360K MTG
$25K in back payments
They wont take this away but is possible to negotiate better price. $5K is the goal!
$6K in principle reduction
Long story short, they will have to move out but you can Lease Option to someone. You have to get on the title to do this. The good news is that you can save their credit from getting bad or worse. This will give them the option to purchase something else in their price range."
"PIP is Seller
LO"
"INCREASE YOUR CREDIT CARD CAP
It sounds strange but increasing your borrowing power should increase your credit score. If your debt stays the same and your borrowing cap goes up your debt to credit ratio goes goes down and your score should go up. RIGHT?!?!?
Having more credit cards from different banks will create competition between them and should create better interest rates or offers.
BankRate.com CreditCards.com
Script for raising your cap on your credit card:
Hello Crystal, I’m going to be making a large purchase can you please increase my ability to borrow. I would like you to increase it to $65,000.
Crystal increased it by a small percentage.
Thank you so much Crystal. Could you pass me to your supervisor so I can let them know how well you did.
Ruby the manager picks up the phone.
Hi Ruby, it’s great to talk with you. I just got off of the phone with Crystal and she did a great job. She raised my limit to $25,000. I know you are the supervisor and have more authority and I was wondering if you have the authority to increase that price to
$65,000. Thank you, I know you will do the best of your ability!
1031 EXCHANGE / DEFFERAL
PURCHASE SELL"
2012 "$200K BASIS" "$500K SELL PRICE
$200K BASE PRICE
$300K CAPITAL GAIN 20% CAPITAL GAIN RATE
$60K - CAP GAINS OWED"
"1031 RULES"
"• MUST OWN PROPERTY FOR AT LEAST 1 YEAR
• INVEST IN NEW PROPERTY OF EQUAL OR GREATER VALUE
• QUALIFIED INTERMEDAIRY
• YOU HAVE 45 DAYS TO IDENTIFY NEW PROPERTY YOU WANT TO PURCHASE
• 180 DAYS TO CLOSE
• THE 45 DAYS AND THE 180 DAYS START AT THE SAME TIME
• IF YOUR BASIS IS $200K AND YOU DO $100K IN CAPITAL IMPROVEMENTS THEN YOUR BASIS IS INCREASED TO $300K"
"DEPRECIATION
• Residential has a 27.5 year depreciation rate
• Commercial has a 39 year depreciation rate
MARKETING CARD IDEA"
"Give marketing cards to:"
"• Uber Divers" "• Pastors" "• Pizza delivery"
"• Waiters/Waitress" "• Construction Workers" "• Mail Man/Delivery People"
"IN OTHER WORDS, GIVE IT TO PEOPLE WHO GET AROUND"
"FRONT BACK"
"REWARD
$1,000" "I WILL PAY YOU $1,000 FOR ANY PROPERTY YOU FIND THAT I BUY. PLEASE, NO REALTOR LISTED PROPERTIES.
CALL ROBERT WOLFE"
"AIL.COM"
"CALL “FOR RENT” SIGNS
When you call them, say:
Hello... What is your name again?.... Can I ask you a couple of questions?...
I’m not interested in renting your house, I am interestedin purchasing it. Are you interested in selling it? Yes or no?
FACEBOOK MARKET PLACE SIGN
INVESTOR, HAVE PROPERTY TO SELL!
Good homes to start with are multi family properites and homes at $300K or more."
"Authorization to Release Information"
"Lender:"
"Account or Loan#:"
"Borrower Name:"
"Borrower SSN:"
"Borrower Name:"
"Borrower SSN:"
"I/We hereby authorize you to release any and all information regarding my loan, including loan status, interest rate, payoff amount, amount of monthly payment, late charges, penalties, and fees (if applicable) and any other information about our account that might be otherwise be protected
to:"
"It is requested that this information be sent to: "
"It is understood that a photocopy of this form will also serve as authorization.
Borrower’s Signature Date Borrower’s Signature Date
Printed Name Printed Name
Notarized:"
"GLOSSARY SECTION"
"A
Abandon - To choose not to exercise or sell an option before it expires. To voluntarily relinquish the rights of property ownership.
Abstract (of Title) - A historical summary of all the recorded transactions that affect the title to the property. An attorney or a title company will review an abstract of title to determine if there are any problems affecting the title to the property. All such problems must be cleared before the buyer can be issued a clear and insurable title.
Acceleration Clause - A provision in a loan contract that allows the lender to demand full and immediate repayment of the entire loan balance if the contract is breached or conditions for repayment occur.
Addendum - Clauses that are added to the end of a contract which supersede what is written in the contract.
Adjustable-Rate Mortgage (ARM) - Also known as a variable rate mortgage. A mortgage with an interest rate that may change, usually in response to changes in the Treasury Bill rate or the prime rate.
Adjustment Period - This is the length of time for which the interest rate is fixed on an adjustable-rate mortgage. Therefore, if the adjustment period is six months, then the interest rate will remain fixed for six months, after which time it will adjust.
Agent - Generally, someone who acts on behalf of another for a fee. In real estate, the term refers to a person with a real estate license who works under the authority of a real estate broker.
Agreement of Sale - A written signed agreement between the seller and the purchaser in which the purchaser agrees to buy certain real estate and the seller agrees to sell upon terms of the agreement. Also known as contract of purchase, purchase agreement, offer
and acceptance, earnest money contract or sales agreement."
"Amortization - A gradual paying off of a debt by regular periodic installments, which pay principal and interest over a specified period of time.
Annual Percentage Rate (APR) - The effective rate of interest for a loan per year. This rate is typically higher than the note rate because it takes into account closing costs. This is one way to compare loan programs offered by different lenders. Caution: the APR is sometimes computed differently by different lenders and can be misleading.
Appraisal - An opinion or estimate of the value of a property at a given date.
Appreciation - Increase in value of a property.
Arm’s Length Transaction - Typically, a transaction between two related or affiliated parties that is conducted as if they were unrelated, so that there is no question of a conflict of interest.
Arrears - The amount of debt that is overdue or unpaid. A payment that is made past its due date.
Assessment - A local tax levied against a property for a specific purpose such as streetlights.
Asset - Anything of value that can be converted into cash or used to pay a debt.
Assign - To transfer interest.
Assignee - Individual to whom a title, claim, property, interest, or right has been transferred.
Assignor - The one who transfers a title, claim, property, interest, or right to another person.
Assignment Clause - A sales contract with an assignment clause allows the buyer to transfer interest in the property (e.g., the right to buy it at the given rates and terms) to
another party."
"Assumable Mortgage - A mortgage loan which allows a new home buyer to take over the obligation of making loan payments with no change in the terms of the loan.
Assumable loans do not have a due-on-sale clause. The lender has to be notified and agree to the assumption. The lender may require the buyer to qualify for the loan and may charge an assumption fee. The seller should obtain a written release from the lender stating clearly that he/she is no longer liable to make mortgage payments.
Assumption - To assume a mortgage means to take over the repaying of that debt from the seller.
B
Balloon (payment) Mortgage - Usually a short-term fixed-rate loan which involves small payments (such as if it were amortized for a traditional 30-year period) for a certain period of time, followed by one large payment for the remaining amount of the principal at a time specified in the contract. Example: A balloon mortgage for $25,000 has interest only payments for 5 years at 12% ($250 per month), with the full principal of $25,000 due and payable after 5 years.
Bankruptcy - The legal process of declaring one’s financial inability to pay one’s debts when due. The debtor surrenders his assets to the bankruptcy court in order to help satisfy existing debts.
Beneficiary - The person who receives or is eligible to receive the benefits resulting from certain acts.
Bid - An offer of a specific amount of money in exchange for products and services, as in an auction.
Bi-weekly Mortgage - A mortgage which requires 1/2 the normal monthly payment every two weeks. Over the course of the year, 26 half-payments are made which is equivalent to 13 full-mortgage payments. As a result of this extra payment, the loan amortizes much faster than a loan with normal monthly payments.
Blanket Mortgage - A mortgage covering more than one piece of property. Example: A
developer subdivides a tract of land into lots and obtains a blanket mortgage on the whole tract."
"Book Value - The value of an asset as shown in the financial records of an individual or corporation. Book Value may differ substantially from Market Price.
Borrower (Mortgagor) - One who applies for a loan secured by real estate and is responsible for repaying the loan (mortgage).
Broker - An individual or firm that acts as an intermediary between a buyer and seller, usually charging a commission.
Buy-Back Agreement - An agreement specifying conditions under which a seller agrees to repurchase a property from whom they sold it to, usually for a stated price and within a stated time limit.
Buy Down - Obtaining a lower interest rate (buying down the rate) by paying additional points (fees) to the lender. The lower rate may apply for the full duration of the loan or for just the first few years. A buy down may be used to qualify a borrower who would otherwise not qualify. This is because a buy down results in lower payments that are easier to qualify for.
Buyers Broker - An agent hired by a buyer to locate a property for purchase. The broker represents the buyer and negotiates with the seller’s broker for the best possible deal for the buyer.
Buyer’s Market - Market conditions that favor buyers i.e., there are more sellers than buyers in the market. As a result, buyers have ample choice of properties and may negotiate lower prices. Buyers markets may be caused by an economic slump or overbuilding.
C
Capital - Money used to generate income or pay for operating expenses.
Capital Gains - Profit earned from the sale of real estate or the amount by which an asset’s selling price exceeds its initial purchase price.
Capitalization Rate - The rate used to determine the present value of property with future earnings."
"CAPS (interest) - Consumer safeguards, which limit the amount, the interest rate on an adjustable-rate mortgage may change per year and/or over the life of the loan.
CAPS (payment) - Consumer safeguards, which limit the amount monthly payments on an adjustable-rate mortgage, may change.
Cash Flow - The amount of cash derived over a certain period of time from an income- producing property. Cash receipts minus cash payments over a given period of time. The cash flow should be large enough to pay the expenses of the income-producing property (mortgage payment, maintenance, utilities, etc.).
Caveat Emptor - A legal term meaning “let buyer beware.” The buyer must examine the property and buy at his/her own risk.
Example: A property may be offered in an “as is” condition with no expressed or implied guarantee of quality or condition.
Certificate of Occupancy - Document issued by a local governmental agency that states a property meets the local building standards for occupancy and is in compliance with public health and building codes. This document is normally required by a lender prior to closing the loan.
Certificate of Title - An opinion rendered by an attorney as to the status of title to a property, according to the public records. This certificate does not hold the same level of protection as title insurance.
Chain of Title - Chronological order of conveyance of a parcel of land from the original owner to the present owner. An abstractor can research title to property going back to the date that the property was granted to the United States.
Chattel - Personal, tangible, moveable property. The same as personal property. Not real estate.
Clear Title - A marketable title, free of liens and legal questions as
to the ownership of the property. Most lenders require a clear title prior to closing."
"Closing –
1. The act of transferring ownership of a property from seller to buyer in accordance with a sales contract.
2. The time when a closing takes place.
3. The process of signing the documents to transfer property.
Closing Costs - Expenses incurred by the buyer and seller in a real estate or mortgage transaction over and above the price of the property. There are two types of costs: recurring and non-recurring.
□ Non-recurring costs are one-time transactional costs, which include:
□ discount and origination points,
□ lender fees (underwriting, processing, document preparations, flood certificate, tax service, wire transfer, courier, etc.),
□ title insurance fees,
□ escrow,
□ attorney or closing agent fees,
□ recording fees,
□ inspection and appraisal fees, and
□ real estate brokerage commissions.
□ Recurring fees are costs associated with owning the property and they recur month after month. These costs may include
□ hazard insurance,
□ interest,
□ property taxes,
□ mortgage insurance (PMI),
□ association fees. A pro-rated amount of these fees may have to be paid at closing, including prepaid interest (interest charges from the date of closing to the end of the month),
□ property taxes if due,
□ hazard insurance,
□ fire insurance or homeowner’s insurance (has to be paid for one year). Mortgage insurance (PMI) - may be required if the loan amount is more than 80% of the value of the property. In the past a whole year of PMI had to be paid up front;"
"however, in recent years many PMI companies only require 1-2 months up front. Mortgage insurance premiums are normally paid every month with the loan payment.
Closing Statement - The settlement statement (usually called a HUD- 1) that discloses all of the financial details of the transaction between the buyer and seller, including all costs.
Cloud on Title - An outstanding claim or encumbrance that, if valid, would affect or impair the owner’s title. Compare to clear title.
Collateral - Assets pledged by a borrower to secure a loan or other credit, and subject to seizure in the event of default.
Commission - The fee charged by a broker or agent when selling real estate.
Comparative Market Analysis (CMA) - A comparison of sales prices of similar properties in a given area for the purpose of determining the fair market value of a property. Also referred to as “Comps.”
Conditional Commitment - A written document provided by a lender agreeing to make a loan provided certain conditions are met by the borrower prior to closing.
Consideration - Anything of value given to induce another to enter into a contract. An earnest money deposit on a sales contract is consideration.
Construction Loan - A short-term loan to pay for the construction of buildings or homes. These loans typically provide periodic disbursements to the builder as each stage of the building is completed. When construction is completed a “take-out” or permanent loan is used to pay off the construction loan.
Contingency - Conditions, which must be satisfied before the buyer, can close the purchase of a property. Contingencies are generally outlined in the purchase contract between the buyer and seller.
Example: The buyer has 14 days to remove the property contingency under the sales
contract. In this case the buyer has 14 days to inspect the property and request the"
"seller to perform repairs. If the buyer is not satisfied with the condition of the property or if the buyer and the seller cannot agree on repairs, the buyer may back out of the contract with no penalty. After 14 days the buyer no longer has the right to back out, without penalty, as a result of a problem with the condition of the property.
Contract - A binding agreement between competent parties to do or not do certain things for consideration. To have a valid contract for the sale of real estate there must be: 1) an offer, 2) an acceptance, 3) competent parties, 4) consideration, 5) legal purpose, 6) written documentation, 7) description of the property, 8) signatures by principals or their attorney-in-fact.
Contract for Sale - Same as the Agreement of Sale.
Contract Sale or Deed - A real estate installment selling arrangement where the buyer may occupy the property, but the seller retains the
title until the agreed upon sales price has been paid. Also known as an installment land contract.
Contract to Purchase - An agreement of sale detailing the transaction and submitted by the buyer to the seller.
Conventional Loan - Any mortgage loan other than a VA or an FHA loan. A conventional loan may be conforming or non-conforming.
Convertible ARM - Some variable rate loans come with options to convert them to a fixed-rate loan based on a pre-determined formula, during a given time period.
Conveyance - The transfer of title of real property from one party to another.
Covenant - A written agreement or restriction on the use of land or promising certain acts.
Credit Report - A report detailing a borrower’s credit history including payment history on revolving accounts (e.g., credit cards), installment accounts (e.g., car loan), bankruptcies and late payments, and recent inquiries. It can be obtained by prospective
lenders with the borrower’s permission, to determine his or her creditworthiness. A"
"credit report also includes information found from public records including tax liens and judgment.
D
Debt-to-Income Ratio - The ratio, expressed as a percentage, which results when a borrower’s monthly payment obligation on long-term debts is divided by his or her net effective income (FHA/ VA loans) or gross monthly income (conventional loans).
Deed - A written document by which title to real property is transferred from one owner to another. The deed should contain an ac- curate description of the property being conveyed, should be signed and witnessed according to the laws of the State where the property is located, and should be delivered to the buyer at closing.
Deed of Trust - Used in many states instead of a mortgage to secure the payment of a note. In a deed of trust there are three parties
- the borrower, the trustee, and the lender, (or beneficiary). The deed to a property is held by a trustee instead of the borrower.
Deed Restriction - A clause in a deed that limits the use of land.
Default - Failure to meet legal obligations in a contract - such as the failure to make the monthly mortgage payment.
Defective Title - Any recorded instrument that would prevent a grantor/seller from giving a clear title.
Delinquency - Failure to make payments on time. This can lead to foreclosure.
Depreciation - Decline in the value of a house due to wear and tear, obsolescence, adverse changes in the neighborhood, or any other reason.
Disclosure - Statement of fact(s) concerning the condition of the property for sale and the surrounding area. In most states, the buyer is protected by disclosure laws requiring sellers to divulge certain information about the property.
Discount Points - Fees paid to a lender to reduce the interest rate."
"Documentary Tax Stamps - Stamps affixed to a deed showing the amount of transfer tax paid.
Down Payment - The part of the purchase price paid in cash up front, reducing the amount of the loan or mortgage.
Due on Sale Clause - A clause in the deed of trust or mortgage that states that the entire loan is due upon the sale or transfer of
the property.
E
Earnest Money - A deposit made by a buyer of real estate towards the down payment to evidence good faith. This money is typically held by the real estate broker or the escrow company.
Easement - The right to use the land of another for a specific purpose. Easements may be temporary or permanent.
Eminent Domain - The right of the government or a public utility to acquire private property for public use by condemnation, with proper compensation to the owner.
Encumbrance - A legal right or interest in land that affects a good or clear title and diminishes the land’s value. It can take numerous forms, such as zoning ordinances, easement rights, claims, mortgages, liens, charges, a pending legal action, unpaid taxes, or restrictive covenants.
Equal Credit Opportunity Act (ECOA) - A federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status or receipt of income from public assistance programs.
Equity - (Equity=Property Value - Loans/Liens Against the property) - The property value minus what you still owe (the mortgage balance).
Escheat - The reversion of property to the state in the event that the owner dies without leaving a will and has no legal heirs."
"Escrow - An account held by the lender into which a homeowner pays money for taxes and insurance.
Eviction - The lawful removal of an occupant and her/his belongings from a property.
F
Fannie Mae/Federal National Mortgage Association (FNMA) – A federal organization that purchases loans from lenders and then sells them as FNMA mortgage-backed securities.
Farmers Home Administration (FHA) - An agency, within the
U.S. Department of Agriculture, that makes and insures loans for rural housing and farms.
Federal Deposit Insurance Corporation (FDIC) - A government agency that supervises and insures accounts held by lending institutions.
Fee Simple (Fee Absolute or Fee Simple Absolute) – Absolute ownership of real property; owner is entitled to the entire property with unrestricted power of disposition during the owner’s life and upon his death the property descends to the owner’s designated heirs.
Federal Housing Administration (FHA) - A government agency within HUD that administers and insures mortgage loans for private lending agencies.
FHA Loan - This program provides mortgage insurance to protect lenders against the risk of default on loans to qualified buyers. A loan insured by the Federal Housing Administration is open to all qualified home purchasers.
FICO Score - FICO stands for Fair Isaac & Company. Credit scores are reported by three major credit bureaus, Equifax, Experian and Trans-Union. Scores are not necessarily the same on each bureau’s report because each bureau may place a slightly different value on different items.
Fiduciary - A person in a position of trust or responsibility with the legal authority and duty to make decisions regarding financial matters on behalf of the other party."
"Finance Charge - Interest charged by a lender.
Fixed Rate Mortgage (FRM) - The mortgage interest rate will remain the same throughout the term of the mortgage for the original borrower.
Forbearance - A lenders postponement of foreclosure in order to give the borrower time and an opportunity to make up for overdue payments. Also, an agreement for a buyer to temporarily make higher payments in order to satisfy overdue payments.
Foreclosure (Repossession) - A legal sale of property forced by the lender when the borrower defaults on the mortgage loan. Freddie Mac/Federal Home Loan Mortgage Corporation Freddie Mac/Federal Home Loan Mortgage Corporation (FHLMC) - Purchases loans from the Federal Reserve and the Federal Home Loan Bank Systems then sells them as FHLMC mortgage-backed securities on Wall Street.
Free and Clear - A property that has no liens.
FSBO (For Sale by Owner) - A property for sale that is not listed with a real estate broker and therefore will not be listed on the Multiple Listing Service (MLS).
G
Grace Period - The time period between the due date of a mortgage payment and the date when late charges are assessed. For example, payments due on the first of the month may have a 14-day grace period, meaning that fees will be charged if payment is not received by the fifteenth.
Graduated Payment Mortgage (GPM) - A mortgage that has lower payments initially (with potential negative amortization), which payments then increase each year until the loan is fully amortized. This program is intended for people with low current income but greater anticipated future income.
Grantee - That party in the deed who is the buyer or recipient.
Grantor - That party who is the seller or the giver."
"H
Hard Money Lender - Lenders who use private money to make loans with Borrowers who have trouble getting loans via conventional methods. There is usually a very high interest rate associated with hard money lenders.
Home Improvement Loan - A loan used to finance home improvements. It may or may not require a mortgage or collateral.
Homeowner’s Association - An association of homeowners that oversees the common areas of the development and its rules and regulations.
Home Warranty Plan - Private insurance insuring a buyer against defects (usually in plumbing, electrical, appliances and heating and cooling systems. Typically purchased at the time of closing, a warranty can cover both new and used homes.
Homestead - Status provided to a homeowner’s principal residence in some states that protects the home against certain judgments up to specified amounts.
Homestead Exemption - Available in some states - this causes the assessed value of a principal residence to be reduced by the amount of the exemption for the purposes of calculating property tax.
Housing and Urban Development (HUD) - A U.S. government agency established to implement certain federal housing and community development programs.
I
Improvements - Additions to raw land such as buildings, streets, etc. that add value to the land.
Income Approach - A method used by an appraiser to estimate the value of rental property based on the income it generates over the life of the structure, discounted to determine its present value.
Income Property - Real estate that generates rental income.
Ingress and Egress - The right to go in and out over a piece of property but not the right"
"to park on it. See also Easements.
Inspection - An examination of a property or building to determine condition or quality for a particular purpose such as an assessment of structural or termite damage. An inspection may also be used to confirm that the property meets the standards of the contract.
Installment Sale - See land contract.
Interest Cap - A limit on the amount that the interest rate for an adjustable-rate mortgage can change, regardless of how much the index changes. Most ARMs have a cap on both the amount they can increase and decrease at any periodic adjustment interval, and a life-long cap that limits the amount the interest rate can vary over the life of the loan. The two interest caps are sometimes called a “periodic cap” and a “life cap.”
Interest rate - The percentage rate on a principal amount charged by a lender for the use of a sum of money.
Investor - A money source for a lender. Also, one who makes investments.
J
Jumbo Loan - Loan size that is larger than the limit established by Fannie Mae or Freddie Mac.
Junior Lien - A lien which is in a subordinate position to other liens existing on a property.
Junior Mortgage - All mortgages/liens subordinate to the first mortgage.
L
Land Contract - A real estate installment selling arrangement where- by the buyer may use and occupy land, but ownership of the property is not transferred until all the payments have been made.
Landlord - The owner of real property who rents or leases to another party, called a tenant."
"Land Trust - A revocable trust agreement usually used in conjunction with a piece of property. The managing party of the agreement, the Trustee, is named in public records while the beneficiary is not disclosed.
Lease - An agreement giving the right to occupy property for a specific period of time for a specific amount.
Lease Option - An agreement giving a renter the option to purchase the property within a defined period of time and for a de- fined purchase price.
Lease with Option to Purchase - A lease under which the lessee has the right to purchase the property. The option may run for a portion or for the full length of the lease.
Lessee - A person who leases a property from its owner. (Tenant)
Lessor - A person who rents property to another under a lease. (Landlord)
Lien - A claim against the property for the payment of a debt, judgement, mortgage or taxes. A lien must be satisfied when the property is sold.
Lis Pendens - Latin term for “Lawsuit Pending”
Loan Application - A document required by a lender prior to loan approval. The application includes detailed information about the borrower, their finances, and the property.
Loan Origination Fee or Points - A one-time fee charged by a lender or broker connected with originating a loan. This is different from discount points, which are used to buy down the rate of interest.
Loan-to-Value Ratio (LTV) - The relationship of the loan amount to the price (or value) of the property.
M
Manufactured Home - Homes built in a factory-controlled environment and that meet
strict HUD codes. They are brought to the property site and are assembled there."
"Margin - A fixed number added to the index to compute the rate on an adjustable-rate mortgage.
Market Value - The highest price that a buyer would pay and the lowest price a seller would accept on a property.
Mortgage - A written legal agreement that creates a lien against a property as security for the payment of a debt; a loan to pay for real estate that usually includes interest rates and a payment schedule.
Mortgage Banker - Specializes in originating, selling and servicing loans. They generally sell their loans to investors but may continue to service them.
Mortgage Broker - An individual or company which brings borrowers and lenders together for the purpose of loan origination, but which does not originate or service the mortgages. They are paid a fee by the borrower or the seller at the closing.
Mortgagee - The lender.
Mortgagor - The borrower.
Motivated Buyer - Any buyer with a strong circumstance or reason to buy.
Motivated Seller - Any seller with a strong circumstance or reason to sell.
Multiple Listing Service (MLS) - A group of brokers joined together in a marketing organization for the purpose of pooling their respective listings. In exchange for a potentially larger audience of buyers, the brokers agree to share commissions. The listings are pooled by using a computerized network.
N
Negative Amortization - An increase in principal balance, which occurs when the monthly payments do not cover all of the interest cost. The interest cost, which is not covered by the payment, is added to the unpaid principal balance.
Net Operating Income (NOI) - The amount of income you have left after you deduct"
"operating expenses (but before deducting interest and taxes). NOI does not include debt service (mortgage payment).
Non-Assumption Clause - A statement in a mortgage contract forbidding the assumption of the mortgage without the prior approval of the lender.
Noncompliance - Failure to comply or obey.
Non-Conforming Loan - A loan that does not meet the Freddie Mac or Fannie Mae standards.
Notary Public - One authorized to take acknowledgments of certain types of documents, such as deeds, contracts, and mortgages.
Note - A legal document that obligates a borrower to repay a loan at a specified interest rate during a specified period of time or on demand.
Notice of Default - A formal notice to a borrower declaring that a default has occurred, and that legal action may be taken.
O
Offer - An expression of willingness to purchase a property at a specified price.
Offeree - One who receives the offer. When the buyer makes an offer to the seller, the seller is an offeree.
Offeror - One who makes the offer. When the buyer makes an offer to the seller, the buyer is an offeror.
Option - The right to buy a property at a specific price within a specific time period.
Optionee - One who receives or purchases an option.
Optionor - One who gives or sells an option.
Option to Purchase - An agreement giving the right to buy a property at a specific price"
"within a specific time period.
Oral Contract - A verbal agreement. Verbal agreements for the sale or use of real estate are normally unenforceable.
Origination Fee - A fee charged by a lender for processing a loan application, expressed as a percentage of the mortgage amount.
Owner Occupant - A tenant of a residence who also owns the property.
Owner of Record - The individual named on a deed that has been recorded at the county recorder’s office.
P
Paper - A mortgage, deed of trust or land contract provided in lieu of cash.
PITI - Abbreviation for principal, interest, taxes and insurance, which may be combined in a single monthly mortgage payment.
Plat - A plan or map of a specific land area.
Plat Book - A public record containing maps of land, showing the division of the land into streets, blocks, and lots and indicating the measurements of the individual parcels.
Points - Fees paid to lenders at the beginning of a loan. 1 point=1% of the loan amount. Points may be further classified into origination points or discount points.
Portfolio Loan - A loan held (not sold) by banks as an investment.
Power of Attorney - A written document authorizing an outside party to act on his or her behalf, naming that outside party as an Attorney in Fact. One does not need to be a licensed attorney to act as an attorney in fact. However, power of attorney forms are powerful legal documents that should be used only under advice of a licensed attorney at law.
Prepaid Interest - Interest paid before it is earned. Prepaid interest is the interest charged to borrowers at closing to pay for the cost of borrowing for a balance of the month. For example, if a loan closes on the 19th of the month and the first payment is"
"due on the 1st of the following month, the lender will charge 12 days of prepaid interest.
Prepayment - Full or partial payment of the principal before the due date. This might occur if the borrower makes extra payments, sells the property, or refinances the existing loan.
Prime Rate - The lowest commercial interest rate charged by a bank on short-term loans to their most credit worthy customers.
Principal - The outstanding balance on a loan.
Private Mortgage Insurance (PMI) - Mortgage insurance provided by non-government insurers that protects a lender against loss if the borrower defaults. In the event the borrower doesn’t have a 20 percent down payment, lenders will allow a smaller or nonexistent down payment. With the smaller down payment loans, however, borrowers are usually required to carry private mortgage insurance. Private mortgage insurance payments are normally made either annually or monthly.
Probate - Court process to establish the validity of the will of a deceased person. Also, the process by which an executor, personal representative or a court-appointed administrator manages and distributes a decedent’s property.
Pro Forma - Projected financial statements based on assumptions.
Promissory Note - A signed legal document that acknowledges the existence of a debt and the promise to repay it.
Prorate - To divide proportionately, so as to determine actual amounts owed by the buyer and seller at closing.
Public Sale - An auction of property that is open to the general public. A public sale generally requires notice (advertising) and must be held in a place accessible to the general public.
Purchase - To buy; or, to obtain property in exchange for money."
"Purchase Agreement - See Agreement of Sale.
Purchase Money Mortgage - A mortgage used to finance the purchase of a property.
Q
Qualifying - The process of determining whether a buyer is financially able to accommodate the terms of a mortgage by checking credit history, present and previous employment, and any other sources which may help to determine the buyer’s financial capability.
Quiet Title (Action) - A court action to establish ownership of property.
Quitclaim Deed - A deed, which transfers whatever interest or title the maker of the deed may have in the particular parcel of land. A quit claim deed is often given to clear the title when the grantor’s interest in a property is questionable. By accepting such a deed, the buyer assumes all the risk. Such a deed makes no warranties as to the title, but simply transfers to the buyer whatever interest the grantor has.
R
Real Estate Broker - A licensed individual who arranges the buying and selling of real estate for a fee. A broker usually owns his/her own real estate company or is in a management position.
Real Property - Land including trees, minerals, and any permanent fixtures attached to it.
Realtor - A real estate professional who is a member of the National Association of Realtors.
Recording - The act of entering into a book of public records instruments affecting title to the real property. A lender requires that a deed of trust or a mortgage be recorded to evidence the debt against the property.
Recording Fees - Money paid to the lender for recording a home sale with the local authorities, thereby making it part of the public records."
"Red-Lining - Illegal practice of discriminating based on geographic location when providing loans or insurance coverage.
Refinance - Obtainment of a new mortgage loan on a property already owned, often to replace existing loans on the property.
Refinancing - Repaying an existing loan from the proceeds of a new loan on the same property.
Restrictive Covenants - Private restrictions limiting the use of real property. Restrictive covenants are created by deed and may “run with the land,” binding all subsequent purchasers of the land, or may be “personal” and binding only between the original seller and buyer.
Right of First Refusal - The right to purchase a property under terms and conditions made by another purchaser and accepted by the seller. For example, if the Joneses make an offer of $120,000 on a property and the seller accepts the offer subject to the Wilson’s right of first refusal, the Wilsons have the right to buy the property for
$120,000.
Rollover Loan - A loan that is amortized over a long period of time (e.g., 30 years) but the interest rate is fixed for a short period (e.g., 5 years). The loan may be extended or rolled over, at the end of the shorter-term, based on the terms of the loan.
S
Sales Agreement or Sales Contract - See Agreement of Sale.
Second Mortgage - A subordinated lien, created by a mortgage loan, over the amount of a first mortgage. Second mortgages generally carry a higher rate than a first mortgage since they represent a higher risk for an investor. Mortgages are generally recorded in the order of the date they are placed.
Section 1031 - The section of the IRS code that deals with tax deferred exchanges of certain property. General rules for tax free ex- changes are that the properties must be
exchanged, similar, and used for business or as an investment."
"Section 8 Housing - Privately owned rental units participating in the low-income rental assistance program sponsored by HUD. Landlords receive subsidies on behalf of qualified low-income ten- ants, allowing the tenants to pay a limited proportion of their incomes toward the rent.
Seller Financing - The Seller of the property agrees to hold a mortgage and accept monthly payments instead of receiving their money in one lump sum.
Sheriff’s Deed - A deed given at the sheriff’s sale in the foreclosure of a mortgage.
Single Family Housing (SFR) - A general term originally used to distinguish a house designed for use by one family from an apartment house. More recently, used to distinguish a house with no common area from a planned development or condominium. Example: Townhouses, detached units.
Special Warranty Deed - The grantor does not warrant against title defects arising from conditions that existed before he/she owned the property. The seller warrants that he/she has done nothing to impair title.
Subordination - A loan in a lower priority, for example a second mortgage is subordinate to a first.
Substitution of Liability - A buyer’s assumption of responsibility for an assumable loan.
Survey - Map made by a licensed surveyor who measures land and charts its boundaries, improvements and relationship to the property surrounding it.
Sweat Equity - Value added to a property due to improvements made by the owner.
T
Tax Lien - A lien placed on a property for nonpayment of taxes
Tax Sale - Public sale of a property at an auction by a government authority as a result of non-payment of property taxes.
Tenancy at Will - A tenancy arrangement in which one party (the tenant) occupies real estate with the permission of the owner, for an unspecified period of time. The tenant"
"may decide to leave the property at any time or must leave at the landlords will. Tenancy for Years - Created by a lease for a fixed term, such as 6 months, 2 years, etc. Tenancy in Common - Ownership of a property by 2 or more per- sons, each of whom has an undivided interest, without the right of survivorship. Upon the death of one of the owners, the ownership share of the deceased is inherited by the beneficiary designated on the owner’s will.
Time is of the Essence - Legal phrase in a contract requiring that all references to specific dates and times in the contract be interpreted exactly.
Title - A legal document establishing evidence of ownership.
Title Insurance - An insurance policy, which protects the insured against loss arising from a property title dispute. Title insurance policies are typically obtained for the buyer and the lender.
Title Report - A document indicating the current state of title. The report includes information on the current ownership, outstanding deeds of trust or mortgages, liens, easements, covenants, restrictions, and any defects.
Title Search - An examination of the public records to determine the ownership and encumbrances affecting the property.
Tract - A parcel of land, generally held for subdividing.
Trust Deed - See Deed of Trust.
Trustee - A party who is given legal responsibility via a Deed of Trust to hold property in the best interest of or “for the benefit of” another. The trustee is one placed in a position of responsibility for another, a responsibility enforceable in a court of law.
U
Underwriting - The decision whether to make a loan to a potential home buyer based on credit, income, employment history, assets, etc.
Unencumbered Property - Real estate with free and clear title."
"Unimproved Property - Land that has received no improvements.
V
VA Loan - Home loan guaranteed by the U.S. Veterans Administration, enabling a veteran to buy a home with little to no money down.
Valuation - An estimation of value of a property, as determined by various factors.
Variable Rate Mortgage - See Adjustable-Rate Mortgage
W
Waiver - The voluntary renunciation, abandonment, or surrender of some claim, right, or privilege.
Warranty Deed - A deed, which guarantees the transfer of title from the seller to the buyer.
Wraparound Mortgage - A seller created mortgage that includes the remaining amount on a current mortgage AND any remaining amount to reach the agreed upon purchase price. The new mortgage “wraps around” the current mortgage. The seller is still responsible for the first mortgage. By making defined monthly payments on the wraparound mortgage, the buyer will satisfy the terms of the mortgage held by the bank.
Y
Yield Spread - A rebate to a mortgage broker from the lending institution that purchases the loan on the open market. The yield spread is usually determined by the difference between the interest rate on the issued loan and the current prime rate.
Z
Zoning - The process of determining what, if any, types of property may be placed in a particular land area. Common zoning distinctions include residential, commercial, industrial, and agricultural. These zoning ordinances are normally enforced by the city or
the county."