DO YOU NEED FUNDS FOR YOUR
REAL ESTATE DEALS?
Welcome to the Private Money Piggy Bank!
Piggy banks are used to save up money for special purposes.
Private Money Piggy Bank links lenders who have saved up money to real estate investors who want to borrow that money to fund their deals.
Private Money Piggy Bank links lenders who have saved up money to real estate investors who want to borrow that money to fund their deals.
Theta Agency, LLC
Theta Agency, in Birmingham, AL, specializes in helping real estate investors and home buyers access money for their deals. 80% of Americans no longer qualify for bank loans, and even those who do are put through a long, demanding, unpleasant experience. We have access to private money, hard money and commercial loans for real estate investors nationwide who need options beyond the banks and credit unions.
Hard Money Services We Offer
Types of Loans:
1) Investment Residential
2) Commercial
3) Refinance (investment residential and commercial)
4) Transactional Funding/Bridge Loans
5) SBA Loans
6) New Construction
7) Bulk/Portfolio Deals
Parameters for residential flips:
1) Up to 65% LTV based on the ARV of the property
2) Points range from 2 - 4
3) Interest ranges from 6 - 12%
4) A 12 month interest only loan (which can be paid off early) is available
5) The ARV of the property must be AT LEAST $125,000
If you want to do a buy & hold, the points are around 2-3 and the interest ranges from 5-7%.
For commercial lending, they will lend up to 80% LTV based on the ARV. Everything from above (with the exception of the 65% LTV) applies.
For investment residential and commercial, they lend up to 30 years. Not too many lenders are doing that.
There are specific forms to fill out. Contact us so we can get them to you.
1) Investment Residential
2) Commercial
3) Refinance (investment residential and commercial)
4) Transactional Funding/Bridge Loans
5) SBA Loans
6) New Construction
7) Bulk/Portfolio Deals
Parameters for residential flips:
1) Up to 65% LTV based on the ARV of the property
2) Points range from 2 - 4
3) Interest ranges from 6 - 12%
4) A 12 month interest only loan (which can be paid off early) is available
5) The ARV of the property must be AT LEAST $125,000
If you want to do a buy & hold, the points are around 2-3 and the interest ranges from 5-7%.
For commercial lending, they will lend up to 80% LTV based on the ARV. Everything from above (with the exception of the 65% LTV) applies.
For investment residential and commercial, they lend up to 30 years. Not too many lenders are doing that.
There are specific forms to fill out. Contact us so we can get them to you.
Private Money Services we offer
Using private money to fund your deals (click here for more details)
- transactional funding for back-to-back flips
- to fund the downpayment, with the main mortgage provided by an institutional lender or owner financing
- to provide rehab funds - by itself if you have purchase funds from another source, or included in the funds for the purchase
What is Hard Money?
A hard money loan is a type of real estate loan that uses the property itself as collateral for the loan. Interest rates are higher than banks' rates because of the higher risk involved. Most lenders fund in the first lien position, meaning that in the event of a default, they are the first creditor to get paid.
Hard money lenders structure loans based on a percentage of the quick-sale value of the property. This is called the loan-to-value or LTV ratio and typically hovers between 60 and 70% of the market value of the property, defined as "today's purchase price." This is the amount a lender could reasonably expect to realize from the sale of the property in the event that the loan defaults and the property must be sold in a one- to four-month time frame. This value differs from a market value appraisal, which assumes an arms-length transaction in which neither buyer nor seller is acting under duress.
Hard money lenders structure loans based on a percentage of the quick-sale value of the property. This is called the loan-to-value or LTV ratio and typically hovers between 60 and 70% of the market value of the property, defined as "today's purchase price." This is the amount a lender could reasonably expect to realize from the sale of the property in the event that the loan defaults and the property must be sold in a one- to four-month time frame. This value differs from a market value appraisal, which assumes an arms-length transaction in which neither buyer nor seller is acting under duress.
What is Private Money?
Private individuals that have invest-able funds, usually retirement accounts or investment funds (in bonds & stocks) that can be cashed out or borrowed against. These are often business owners or professionals. Over a trillion in funds are sitting on the sidelines in CDs or savings accounts because people are too scared or don’t know how to invest them for better returns. Some prefer to get better returns by investing in real estate. There are no set loan terms. Interest rates, length of loan, etc. are negotiated between lender and borrower depending on their needs and the requirements of the project. The property itself is collateral for the loan; appraisals and credit checks are not usually required.
To keep within the laws of the SEC, we do not offer real estate funding opportunities to anyone we have not first developed a relationship with, and then pre-qualified as a lender. We can advertise to find real estate investors who have deals that need funded, but never advertise for private money lenders to fund those deals. Our consulting fees come from the borrowers, not the lenders.
To keep within the laws of the SEC, we do not offer real estate funding opportunities to anyone we have not first developed a relationship with, and then pre-qualified as a lender. We can advertise to find real estate investors who have deals that need funded, but never advertise for private money lenders to fund those deals. Our consulting fees come from the borrowers, not the lenders.
Helpful Hint
To be better able to know how to calculate your purchase price and negotiate terms with lenders, go to dinkytown.net to play around with their mortgage calculators. For example, how much would the monthly payments be for the size loan you need if you got a fixed rate mortgage at 5% interest for 25 years? Or an adjustable rate mortgage for 15 years? Or an interest only loan? Or a loan at 8% that amortizes for 20 years with a balloon payment after 5 years?