Where are the Real Estate Investor Leads?
Real Estate Investment Leads are a necessity when you are a Real Estate Investor! Some investors will buy internet leads, use auction site, spend time driving around looking for specific property types, or even do random mailers. There are also many other ways to develop real estate investment leads.
Joining a Real Estate Investor Association like CTREIA can help investors to hear about deals. At these meetings there are many wholesalers that attend and are looking to either sell or partner on leads they have developed. Also, the networking possibilities at these meetings are priceless with developing leads.
Real Estate Investor Leads can also be developed by actively working with referral sources. Probate Attorneys, Insurance Agents, Real Estate Agents, and General Contractors are on the front lines to hear about potential deals that you may have interest in. Essentially, you will want to look at these sources as your team. A team that you also refer business back to.
Finally, investors can seek out distressed property on their own by working with Banker and Mortgage Professionals that have access to bank owned real estate. Many times the lenders want these properties off of their books and are willing to sell the real estate at a great discount.
My contact information is on the bottom of this page if you would like more information on how to develop real estate investor leads. I have a bunch of other ideas and options at my disposal and would be more than happy to share them with you for free!
What do you do when you find the deal?
Spartan Commercial Mortgage Services offers Commercial Mortgage Financing to Investors in Connecticut and surrounding states. We specialize in financing investment real estate. Spartan Commercial Mortgage offers Stated Income Commercial Mortgages as well as Conventional Commercial Mortgages. Furthermore, we offer Fix and Flip, Fix and Hold, and alternative funding solutions.
Commercial Real Estate Types:
- Single Family Investment Properties
- Apartment Buildings and Multi-Family Properties
- Mixed-Use
- Retail and Office
- Auto Repair (Not Gas Stations)
- Day Care
- Funeral Home
- Beauty Shops
- Motels/Hotels
- Warehouse
- Mobile Home Parks
- Campgrounds
- Churches
- Self Storage Facilities
- Dry Cleaner (Drop off only)
- Finally, Recreational properties
Ineligible Properties:
- Raw land
- Likewise, land requiring “ground up” construction (any loan requiring rehab work must equal 10% or less of the property value)
- Also, Gas stations (although, we will lend on auto repair/auto body shops) are not allowed.
LTV: Maximum LTV is 80% on a 30 year Fixed Commercial Loan.
Credit Score Requirements:
- 725 Min Score for our Elite Program
- 600 Min Score for our Traditional Program.
Closings: Three to four weeks (the timeline is based on how quickly we receive all the required information). Also, the fix and flip (rehab) commercial loan can be closed in under 2 weeks.
Financing Rates: We offer 30 year fixed rates, 25 year fixed rates, 20 year fixed rates, 15 year fixed rates, and 5 or 7 year adjustable rate mortgages. Rates will vary depending on credit score.
Points: While Spartan Commercial does their best to not charge any upfront points, in some cases 1 to 2 points are charged depending on the transaction.
Prepay: Declining 5%-4%-3%-2%-1% Prepay Penalty. Call me for shorter prepayment terms.
States: We transact commercial mortgages in 42 states. Except for Alaska, Alabama, Hawaii, Michigan, Nevada, North Dakota, Vermont and West Virginia.
In conclusion, we are here to help with your upcoming Commercial Mortgage. We say “Yes” when your local bank says “No.” Since we specialize in this type of financing we are able to help you get your commercial mortgage closed quickly. Furthermore, we will work with you every step of the way. Because the approval process for financing is seamless – your loan will close quickly.
Call us today for a free consultation or click here to get pre-approved.
Thanks,
Michael Meyer
President Spartan Commercial Mortgage Services
mike@spartancommercialmortgage.com
(860) 876-0572