Alexander Ferencz

Dunbar, PA (USA)
Role(s):
Founder/Owner/Principal

Ferencz Enterprises

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Location: Windber
Industry: Real Estate
Year Founded: 2007
Number Employees: 1-10 people
Description: Attention investors! I need an $24,500 1st lien equity loan on a residential investment property that I own outright and is officially appraised at $35,000. In exchange, I will pay you on a monthly basis 10% annual interest for a period of 3 to 5 years. The purpose of the loan is a combination rehab ($4300) and $20,200 worth of credit card debt consolidation. Once the property is rehabbed (estimated time period of 2 months), I intend to lease it out for $450 to $500 per month which will easily pay the monthly loan payments. To pay the final $18,000 balloon payment, toward the end of the loan period, I will either have sold the property or have had it refinanced by a traditional lender. I have decent credit, etc. and have a recent copy of my credit report that I can fax or email to you immediately to prove it. The loan details are as follows: You will secure the loan with a 1st mortgage for the principal amount and IRAs can even be used to fund deals. You will act as if you are the bank……(URL removed) will have 1st lien position on the property I will pay 10% Interest Only payments per month, over 36-60 months. ($24,500 loan = $204.25/mo payable for the note) x 36-60 months = $7,353 to $12,255 in interest alone!!! I will hold the deed to the property solely, but once again, you will have 1st lien position on the property, in case anything happens you will have a secured low LTV property. The Loan to Value will be approximately 70% Rehab Costs $4,300 Total Loan Principal $24,500 Interest Rate 10.00% Interest Paid Months 36-60 Points 0.00% Points Paid 0 Interest Paid $204.25/monthly After Repair value officially appraised at $35,000 Total Loan Cost/Your Profit $7,353 (36 months term) - $12,255 (60 months term). My name is Alex Ferencz and can be reached at or (Phone # removed)for further information.