ACE ERNST
Orlando, FL (USA)
Role(s):
Founder/Owner/Principal
Ace Homebuyers
Find More Startups
Startup
Location:
Orlando
Industry:
Real Estate
Year Founded:
2011
Number Employees:
1-10 people
Business Stage:
Growth (not profitable)
Entity Type:
Sole Proprietorship
Description:
Wholesale REO's and Houses that need rehabing.
I know your company know a lot of people so I thought I would ask you if you know anyone who is not getting 10%-15% return on their money? If you do, these people are perfect candidate to be a private lenders for real estate investing transactions. Private money lenders are simply individuals who would like to put their cash to better use.
If you know someone who has that cash just “sitting there” and or not getting secured and high rate of return, let me know. Because perhaps they could fund some killer deals I come across, homes with prices from forty to fifty cents on the dollar that are fit for wholesale flip or rehabbing! The loan to value ratio on these deals is great, it is around 60% (often less) of the after repair value (ARV) of the home.
The private lenders funds are very secured because the asset is not going anywhere and they are deeply discounted making for excellent and easy resell. The loan is one of compounding interest with short term 6 month balloon payment. And of course, the transaction is closed with our attorney. The house is additionally secured with many forms of insurance to further protect the investors. I am looking for funds from 10k-80k, depending on the deal and I am paying 13% for the money.
If you or someone you know is interested would you like me to notify you when I get some under contract and ready to go?