Partners Wanted – steady monthly long term checks to you fully secured.
I have a higher end house that I just finished rehabbing, and now have a tenant in place paying $2100/month. The house is located in a very established, and much sought after neighborhood in the highly acclaimed Cy Fair ISD (NW Houston Area). The house is worth $220K+. The folks renting it have a 2 year option to purchase it for $235K. I am looking to put a $150K mortgage in place via a private lender in a 1st Mortgage Position. I am looking to get either a 5 or 10 year balloon, with monthly interest only payments during that time. For an interest rate, I have two options that I want to throw out there. For just a property only collateral guarantee, I am willing to pay 7.5%. For a property + personal guarantee from me (I have substantial net worth - $1M+ and good credit score-- 720+), I am willing to pay 5.5%.
If this is something you are interested in, please respond via email directly to this ad with your name and a good contact number, and the best time for me to call to discuss. And please, NO LOAN BROKERS. I want to deal directly with PRINCIPALS ONLY!!! Also, in the subject line put “CYPRESS HOUSE” so I know you are a real person and not some ad responding robot. Or, call me directly to discuss at 281-213-0883
Just for some brief background on me, I am very successful in business, having built and sold a multimillion dollar company. I have been in the real estate business as an investor for over 20 years, and have a property investment portfolio that totals over 50 single family units and over 60 multifamily units in a 3 state region. Since I have sold my business, I am now focused on ramping up a very lucrative single family real estate model, and am looking to build LONG TERM relationships with private lender folks who are tired/frustrated with the meager returns offered by the banks on CD’s or the govt on bonds. I have many projects in which I can utilize private funds, so if the above property does not interest you, I have others as well AND at all different levels of dollar levels. I purchase properties in the $5-$10K range, all the way up to the $300K range, so chances are that I have something in the range you are looking.