Home Run Platinum Solutions, LLC

07/28/2023

Samantha WillisCreative Real Estate with Pace Morby
March 2
·
I have a private money multifamily deal in Birmingham, AL! Looking for last bit of funding today/tomorrow if possible. This is for another Sub to member in the area. Please let me know if you're interested and I'll connect you! Serious inquiries only please.
We basically need $90k to close (tomorrow) for either around 19-20% equity in the deal (which would be around $1500/month cash flow).
It’s for 7 unit apartment building in 35242 zip code.
OR
We need to borrow a $90k private money loan that we can pay 12.5% simple interest on to be paid back in full in 12 months. This would be secured by a first loan position.
So, if you know someone who wants to be partial owner of some apartments in one of the affluent areas in town with a median income of $107k and a 98% occupancy rate, then that would be a HUGE help. 😊

07/25/2023

Real Talk!

07/15/2023

Thaddaeus Joseph Hurst
Top contributor
·
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·
NEED A GATOR🐊🐊🐊🐊🐊🐊🐊

$1,000,000 for $250,000 EMD
NEED THIS by Wednesday July 19th

My Gator had a heart attack as is in the hospital.
Please send prayers.
Address of Deal: 574 Acre Land Development in Florida
Amount of Money Needed: $250,000
Length of Time Money is Needed: >12 Months
How You Will Use the Money: Fund of EMD
How Much are you offering for the return:
$1,000,000 within 12 months
What is your exit strategy to pay back the lender:
- Refinance
- Paid at Close
- Dirt and Limestone Sales ($50M)
- Resale
ARV: $210,000,000
Purchase Price $10,000,000
Need a response ASAP. First one to commit gets the deal.

07/11/2023

General question? How many people are familiar with loan sponsorship! And who would be willing to sponsor my next deal for a epic return on their investment!

07/11/2023

Paul Schaff
I would direct the agent to look at any closing statements that they have and look at box 203 & 503 subject to existing loan. If HUD says that it is perfectly legal and acceptable since it was the US government agency that created the document (HUD-1), how can it be shady?

07/10/2023

Comments
Colleen Wick
Top contributor
You'd have them fill out a loan application through a lender at their expense (usually $250ish, and have lender send info to you) and have them submit pay stubs, bank statements, and you'd do an employment verification. You're not fannie/freddie/or penny Mac so you don't need to follow typical underwriting guidelines but you do want to go over their financials and decide if you think they're a good risk.
Or sell to someone with a great reputation in the subto community.
Reply5h
JoeDocei Hill
Author
Colleen Wick thanks Colleen ! When you say “fill out a loan application through a lender”, what do you mean here?
My thinking was Since this would be a creative deal there wouldn’t be any additional lenders involved. Are you saying the buyer can just use the application process from any lender and I get that information sent over to me?
Reply5h
Colleen Wick
Top contributor
JoeDocei Hill that's exactly what I mean 🙂
Reply5h
JoeDocei Hill
Author
Colleen Wick cool beans! I didn’t know that was a thing ! Thank you!
Reply5h
Holly Elizabeth Hayhurst
Top contributor
I only sell my creative deals to people within the subto community because of the accountability within-- but outside of that, I would ask any buyer to procure at least 3 HUDS, as well as POF. I would also require them to set up servicing with a reputable company, to ensure smooth payments. As the wholesaler, your relationship/rapport with the seller will be at risk, but legally there's nothing I can think of against you if it goes south. Make sure to connect the seller with your end buyer, so they have direct contact. And just make sure you're transparent with the seller, so that they don't come back to you with issues-- they can go straight to the buyer.
Reply6h
Pace Morby-Team
Admin
Group expert
Holly Elizabeth Hayhurst We're so lucky to have you in the group with all the value that you are adding here!
Reply5h
JoeDocei Hill
Author
Holly Elizabeth Hayhurst woah! Super helpful response Holly. Thanks that was great !
Reply5h
Chris Crawford
Top contributor
Honestly there isn’t a way so guarantee they will perform. That’s why I prefer to sell to another buyer through a wrap and stay involved in case I need to help the seller foreclose down the line. Just assigning a sub to deal to another buyer (even if you qualify them) puts the seller in an exposed situation because without another debt instrument like a wrap they have no recourse to get property back. You could try the whole deed in escrow thing but many buyers may balk at that.
Reply4h
JoeDocei Hill
Author
Chris Crawford hmmmm so instead of assigning, you’ll wrap, that’s interesting. Are your wrap terms close to the creative terms but just with a “fee” for you included?
Reply1h
Chris Crawford
Top contributor
JoeDocei Hill yeah it’s just a mirror wrap but it creates a mortgage so they could foreclose if they needed to down the line.
Reply1h
Luis Rivera
Could you add a Performance Deed to the original contract that would be passed along to the end buyer? If end buyer does not accept, he's not your guy.
Reply2m

07/10/2023

Welcome to the NUMBER ONE dopest real estate investing community for creative financing options like subject to and seller finance. Whether you are new to the game or closing your 100th deal, come take a seat at the table. You’ll also receive a free gift from Pace when you join this group, just make sure to read ‘til the end and hit JOIN!
👇Weekly Group Content Schedule👇
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Yo! I’m Pace Morby ✌🏽 Professional real estate investor, business entrepreneur, visionary, father and husband! I'm married to the most beautiful real estate...

07/08/2023

Hello community! I am trying to work my first deal in SC. Seller agrees to finance over short term. Multi family needs work, like add a bathroom and install a kitchen. WAY overpriced but property will allow another home. Crap now BUT in a year or two that area will skyrocket, hence her asking price. There is a tear down on property also. Never wanted to do and flip but this fix and hold will be huge!
What numbers do I need to present to PML to convince them to take a chance… See more

Guillermo Serafin
Top contributor
1. Total cost of acquisition everything.
2. Detailed strategy for exit and repayment along with total cost for executing that strategy.
3. Alternative strategies if the primary one doesn’t work.
4. Your experience.
5. How will you protect their money.
Reply47m

07/08/2023

How Do You Analyze a Creative Finance Deal? Subject To or Seller Finance.
USE THE 5, 10, 12 RULE
5% - The Interest Rate should be less than 5%
10% - The Entry Fee should be less than 10%
12% - The Cash on Cash Return should be greater than 12%
In just seconds, you will know if a creative finance deal is a GOOD deal or a BAD deal. I hope this helps all of you creative Wholesalers and Investors! 👍