Testimonials

“I just wanted to let you know how much I enjoyed this seminar.  It’s one thing to read about stuff in a book, but to actually see Lee going through real deals and the different suggestions he makes is priceless. It’s great to see how creative one can be to get a deal done.” -Thanks so much.  I hope he does more of these. KC Mace

 ”The workshop provided an excellent opportunity to network with people from all over the country. As a result, I will be initiating several new partnerships in the coming weeks. Through those partnerships I will be more successful in both real estate and life.” – Stacee Nelson at the 2012 San Antonio Funding Tour

“This workshop has expanded my knowledge in loan package analysis, methods of structuring, the purchase of real estate, and planning exit strategies for investment transactions. It has provided techniques for researching target investment properties of interest.” – Richard Schneider at the 2012 San Antonio Funding Tour

“This workshop has expanded my network and given me access to several sources of funding and business building resources.” – Everett Buchler at the 2012 San Antonio Funding Tour

“I have attended this Tour before. I now have been reminded of things I had forgotten, as well as learned a few new things. I have added to my “Power Team.” All of this will enhance my success.” – Dana Klaft at the 2012 San Antonio Funding Tour

“It has given me clarification on lending and borrowing. The Funding Tour has also improved my understanding of notes, mortgaging, and lending instruments. I’ve also made incredible contacts and partnerships.” – Philip Cutting

 

Lee,
Thank you so much for your generousity, that’s going above and beyond kindness, but after being associated with I’m the Solution for only 3 months, I can tell that this is just the way you are. You always seem to give so much to your students. Thanks again, and I know it will come around to you again as I have Carrie work the short sales or partner with you on deals.

God bless.
-Strive for Perfection

Tolerate Excellence!

For your first deal, PME funds at 65% of the price you are under contract for or 80% of AS IS value whichever is lower.  It is hard money so it would be 15%, 5 points.  Their premise is that you must have skin in the game so that there is pain if default occurs.  Once you have done your first deal from start to finish, paid on time etc.  you have established history and the points and interest percentage could come down a little.  These are interest only loans.   So what you described is pretty typical.
I have just completed my first loan with PME and now am working on two more.
As a result of doing my first short sale start to finish, I have added 3 new short sales and a loan modification to my pipeline.  People talk…. Since Saturday, I have put 4 properties under contract  – all related to the above completed deal.  I can do this because I have access to PME money.
While PME is expensive money, it is a small price to pay to put $16K in your pocket, that’s what I made on the property I closed on last Thursday.  I bought the property for $55K, put $18 of my own money into the deal, Rehab/holding costs approx $15k. My check was for more than $46K.
I have wholesale opportunities available!
1.  Total fixer upper 300 Taylor St., W. Columbia, SC 29169.  Asking 27,000 or best offer.   Rehab 35–50K depending on how much you do yourself. ARV 71,000  Make an offer.
2.  Stable tenant occupied no rehab at this time.  Windows, paint and kitchen upgrade at some point.  1405 Lucas St., Cayce, SC 29033  Asking 50,000.  ARV 69500.  Make me an offer.
3.  Empty, minimal rehab, paint, carpet (already removed), fire box for fireplace and a few fixtures and landscaping.  237 Louisa Ln, Lexington, SC 29073.  Asking 74,900. ARV: 102,700.  Make an offer.
Will probably have another in Columbia between Piney Grove and Harbison tonight.  Lots of work needed, very overgrown.
If you are interested in any of these properties, let me know I am willing to negotiate.
Thanks,
Mary League