Need A Loan ASAP - Real Estate As Collateral

[jvalentine777]

I'm trying to put together a real estate deal for a 4 plex to use as rental property.

I need money for the down payment ($15,000 - 10%). The total down payment is $30,000 (20%), but I have half of the money already (my own cash).

I currently own a 4 bedroom 3 bathroom house that's free and clear (inherited).

I also own 3 acres of land (inherited).

I know this may be a lot for one person to facilitate, so I'm willing to work with multiple people if necessary.

I can provide signed and notarized documents.

If one person can lend this amount, you'd have a FIRST position on the property lien.

If you can help at all, please PM me and let me know how much you can lend and what your terms are.

I'm a serious borrower with decent credit, but not enough liquid cash to make the purchase without a loan.

I can pay back the loan in 30 days or less. I plan to take out an equity line of credit, but it takes 15 - 20 days for my bank to approve, and I need to move on this deal in the next 5 days.

Please let me know if you can help. Thanks.



 

[BitcoinRonnie]

Country of origin?

These documents mean nothing without that detail.

[Atomicat]

This user PMed me requesting a loan of $1,500 to replace the transmission of his car while he had a thread to buy 4 BTC @ $700.

Straight forward like the title says. Please PM me if you're serious.

I'm willing to buy 1 at a time or all 4 from one person.

[Vod]

I plan to take out an equity line of credit, but it takes 15 - 20 days for my bank to approve, and I need to move on this deal in the next 5 days.

Don't know where you are located, but in Canada you can get a home equity loan in 24 hours.  Banks are slow.  I assume the US would be the same.

Look around at private parties where you are located.

[knightkon]

Please post where you are located.  I can do this loan for you, but the deed to the property will be held as collateral, not as first lien position.  Once you post where you are located on your thread, Iplease PM me the addresses to the properties being used for collateral.  I will need 24 hours to complete the research to approve the loan and set terms.

[Chris!]

I plan to take out an equity line of credit, but it takes 15 - 20 days for my bank to approve, and I need to move on this deal in the next 5 days.

Don't know where you are located, but in Canada you can get a home equity loan in 24 hours.  Banks are slow.  I assume the US would be the same.

Look around at private parties where you are located.

No you can't. It's a bare minimum of 48h. You have to sign a 48h disclosure and from there you can pull equity from your home.

Otherwise all of these websites would just be giving out home equity loans with 24h turnaround times.

http://www.equityrefinancemortgageloans.ca/contactequityrefinancemortgageloanscanada.php

http://www.2ndmortgagedirect.com/faq.asp

https://www.ratesupermarket.ca/blog/debt-consolidation-home-equity/

Mind you 48h to get a home equity loan at 19.99% would be much faster/cheaper than trying to do this with bitcoins over the internet with strangers.

[Vod]

The first Google result for "mortgage equity canada" comes up with a 24 hour company:

http://alpinecredits.ca/helpful-info/

They advertise 24 hour turnaround all the time here on late night TV.

[btctube]

This user PMed me requesting a loan of $1,500 to replace the transmission of his car while he had a thread to buy 4 BTC @ $700.

Straight forward like the title says. Please PM me if you're serious.

I'm willing to buy 1 at a time or all 4 from one person.

enough to tell this OP is shady enough  
would definitely avoid such user. he even can't tell where these properties are located. if indeed he likes to borrow money, he'd provide all the details necessary in the first post.

[Chris!]

The first Google result for "mortgage equity canada" comes up with a 24 hour company:

http://alpinecredits.ca/helpful-info/

They advertise 24 hour turnaround all the time here on late night TV.

'Approved in 24h' I work in this industry. You can be approved in 30 minutes. It doesn't mean you can get your money in your bank account in that amount of time. It's a legal requirement to give people a 48h 'cooling off' period (48h disclosure) when dealing with real estate secured deals. If it's a reverse mortgage it's even longer.

Also, happy Canada day!


@OP just try getting this done with fiat. Unfortunately lathered aren't many (if any) lenders that have the know-how on DIY real estate lending.

[jackg]

The first Google result for "mortgage equity canada" comes up with a 24 hour company:

http://alpinecredits.ca/helpful-info/

They advertise 24 hour turnaround all the time here on late night TV.

'Approved in 24h' I work in this industry. You can be approved in 30 minutes. It doesn't mean you can get your money in your bank account in that amount of time. It's a legal requirement to give people a 48h 'cooling off' period (48h disclosure) when dealing with real estate secured deals. If it's a reverse mortgage it's even longer.

Also, happy Canada day!


@OP just try getting this done with fiat. Unfortunately lathered aren't many (if any) lenders that have the know-how on DIY real estate lending.

In most rich countries (based on the UK) two solicitors and one serveyer is needed in order to change the posession of a property. These are to cover the lender and the borrower from losing money/their estate!
Once this is done, there would also need to be escrow in order to transfer such a large amount of money back to the lender!
I assume this would probably cost several thousand dollars!
OP - I'd suggest you find a bank that will give you a loan, equity on your house or remortgage the property, or meerely sell it to someone (possibly a relativ eyou know who will give it back to you after they get their money back)!

[Atomicat]

The OP has not been online for over 3 days. He also PMed me requesting a loan of $1,500 with the same collateral while he had a thread to buy 4 bitcoins.

Smells like a scam to me.

[knightkon]

The OP has not been online for over 3 days. He also PMed me requesting a loan of $1,500 with the same collateral while he had a thread to buy 4 bitcoins.

Smells like a scam to me.

Please reference the thread in which he was asking to make a purchase of 4 Bitcoin.  I looked and did not see it, but I did not do a thorough search.  Thank you in advance.

[Jumanga]

The OP has not been online for over 3 days. He also PMed me requesting a loan of $1,500 with the same collateral while he had a thread to buy 4 bitcoins.

Smells like a scam to me.

Please reference the thread in which he was asking to make a purchase of 4 Bitcoin.  I looked and did not see it, but I did not do a thorough search.  Thank you in advance.

https://bitcointalk.org/index.php?topic=1510797.msg15197350#msg15197350