Joe Locklear
Jacksonville Florida's #1 Source for BELOW Wholesale Real Estate
Investment opportunity...
I have a few houses that need long term private mortgages. Some are as small as 18K with LTV as low as 30%. This is as safe as it gets! These are MY PERSONAL portfolio properties. I will sign personally on the mortgages and pay you 9% interest on a 30 year amortization with a 10 year balloon. I will provide multiple references from individuals that are currently providing mortgage loans to me.
Why let your cash sit in the bank and earn 2-3%? Give me a call NOW, you'll be glad you did. FIRST COME FIRST SERVED.
Do you have $20K or more that is not earning you 15%, safely and tax free!
If the answer is yes, then read-on…
Almost all rehabs that are not cash funded are financed with “private money” equity loans. Here are typical terms of a hard money loan:
1. First position mortgage, 50-65% LTV, based on after repaired
value.
2. Title insurance issued, repair funds escrowed and disbursed as work is completed and
inspected.
3. Property insured at full replacement value, lender as additional insured.
4. 13-15% interest only, payable monthly, 24 month balloon.
Private money mortgages are often available on my rehab houses. I am the borrower. The loans are personally guaranteed and remain in place until I obtain a permanent loan or sell the properties to another landlord. Give me a call for details or send an email to check for availability of private money mortgage opportunities.
Are you looking for a longer term investment at a good guaranteed return?
After my properties are renovated, I either sell them to other landlords, or place them with a property manager within my own rental portfolio. I obtain “take-out” loans to pay off the high interest hard money. While I can obtain these loans from conventional sources (banks, credit unions, mortgage companies etc.), I prefer private lenders. Utilizing private money allows me to qualify for more properties and accelerates my path to financial security. My reputation combined with very low loan to value and competitive rates make these mortgage loans an excellent vehicle for your retirement account. Here are terms of a typical long term mortgage:
1. First position mortgage, 50-70% LTV, appraisal upon request.
2. Title insurance issued, rents assigned.
3. Property insured at full replacement value, lender added as
additional insured.
4. 6-10% interest, 10-25 year amortization.
Did you know that most traditional IRA’s and 401Ks are convertible to a Self Directed IRA? Here’s how this can help with your retirement:
1. “Self Directed” means you can invest in property, mortgages, tax
certificates, or conventional securities.
2. Buy and sell properties within your IRA while deferring taxes until
retirement.
3. Increase security by investing in “real property”. Increase returns
by investing “directly” with the borrower.
Now, here’s a little bonus that even your CPA may not be aware of… Consider the advantages of combining a Roth IRA with leveraged assets:
1. Open a Self Directed Roth IRA with as little as $500.
2. Direct your IRA to purchase an option on a distressed property and
to fund the renovations.
3. When it is time to dispose of the property, direct the IRA to assign
the option to the new buyer for consideration equal to the profit.
4. Deposit the proceeds back into the IRA, and do-it again…
5. Earn 100’s of thousands of $$$$ and draw it all out tax-free at age
59 ½!
For additional details, visit the Equity Trust website. Be sure to follow the links to the IRS statutes.
So – when you tire of all the heartburn associated with stocks, bonds and mutual funds, and you feel the need for greater security and higher returns, send me an email give me a call, You’ll be glad you did!
Now, like any good citizen who doesn’t relish the thought of a private interview with the Securities and Exchange Commission, let me share my standard disclaimer…
I am not a mortgage broker, I do not collect fees for services and only solicit loans for properties in which I own an equitable interest. I am not a tax attorney, and any advice that I offer, tax or otherwise is my personal opinion only. For your own protection, check with your tax attorney and CPA before initiating any changes in your investment accounts. I have no interest whatsoever in Equity Trust Co. and have referred you to them for your benefit only.
If you would like to be contacted immediately via email when new mortgage investment opportunities become available, just send me an email to joe@joelocklear.com
Be sure to include the amount and length of time you would like to invest.
(all information will be kept confidential)
One final question…