|
Our Focus
Equity Max is not your typical real estate office or mortgage lender. We neither list many properties, nor do we seek out listings. We have very few customers who are owner occupants. Our one and only focus is the residential real estate investor. We spend every minute of every day finding, selling, and funding deals for real estate investors. Established in 1990 to serve the needs of the real estate investment community, EquityMax has grown to be the leader in our market.
The following is an overview of how the world of residential real estate investing "works". This will answer many of the questions a new investor has about the business. Our helpful staff at EquityMax will fill you in on the rest. Before long, you will develop you own expertise. Investing in real estate is a major decision. Invest with EquityMax at your side!
Acquiring & Evaluating Properties
How do you go about finding "deals?" There are many options, but most of them take days, even weeks of research and effort, often leading in dead ends. At EquityMax, we offer unique service that "takes the guesswork out of it." EquityMax offers a free list of qualified and available residential properties in the Tri-county area. This list is compiled of properties from the MLS and other sources. Our office studies over 25,000 opportunities per month to find 150-200 qualified investment properties. No one does more extensive research from these sources that we do! EquityMax also sends out auxiliary lists of "turn-key" investment properties and vacant land opportunities throughout fast-developing Florida. We deliver these lists to nearly 2,000 real estate investors multiple times weekly by both E-mail and fax. As a result we make approximately 500 offers on behalf of our investor-buyers monthly, and are usually successful in selling 60-70 properties per month. Let our time, effort and expertise work for you!
Our list of "handyman" properties is heavily made up of bank repos and estate properties, and some privately owned properties. The list is comprised of approximately 75% single family homes, 23% 2-4 unit, and 2% larger apartment bldgs. and occasional commercial bldgs. Most homes are in need of $5-10,000 of repair. However, they are typically available substantially under market value, leaving plenty of room for the real estate investors profit margin. The list contains approximately 250 properties, predominately among Miami-Dade, Broward and Palm Beach Counties. About 30% of the list changes weekly. The properties we select sell very fast!
Before any property is placed on our list, we prepare and scrutinize a competitive market analysis of the subject property. A copy of this is immediately available to our customers. With this in had, we invite you to share our thought process as to how to structure an effective offer for the property as well as what the final repaired value will be.
Another viable source of properties for investors is HUD. We fax out the HUD list to our customers as well, upon its publication. EquityMax works on only a flat $1,000 commission from the seller in selling HUD properties. What our lower commission means to you is that HUD obtains a higher net price to them, and your bid has a better chance of winning. For example:
| Price of Home: |
$50,000 |
$50,000 |
| Other agent's regular 6% commission: |
3,000 |
EquityMax commission: 1,000 |
| Net to HUD |
$47,000 |
49,000 |
Result: EquityMax customer wins bid, since HUD gets higher net!
But what about evaluation of the property? EquityMax is at your service! We've learned that every parcel of real estate, no matter how poorly maintained, no matter what distressed city block it's located on, even a raw parcel of land in the middle of nowhere, has a value. Any property, bought right, will make you money. Of course, analyzing the cost of repairs, if applicable, and dealing with your own comfort level as to neighborhoods, locations, etc. will help guide us together towards determining "value" for the property and our guidelines for offering. Here are some tips for evaluating properties:
1.Better to buy the worst-looking house on an otherwise nicer street than the other way around;
2. The market is the market is the market. Your property will only sell (or rent) for what the market is, not what you'd like it to be. Thus, you really make your money on the property when you buy more than when you sell.
3. The most "hidden" physical issue that can affect property repair costs, and ultimately your pocketbook, is structural damage. If you suspect any, have a qualified contractor check it out.
4. If your physician advised you to have a procedure as serious as heart surgery, you'd probably get a second opinion, right? No reason not to do the same when you are about to have "wallet surgery", right? Don't take your seller's or Realtor's opinion of value for granted until you ask a second opinion, or until you know the turf yourself. A great (and free) way to get this second opinion is to ask your hard equity lender what he'll lend you on the property and why? He'll surely give you HIS opinion of value in the process!
5. In comparing properties on your own, compare apples with apples. Single family homes should not be compared with nearby duplexes of similar square footage. Different animals, different markets. Compare properties of the same type, with similar features, which have sold in relatively the same time period.
6. Be careful of overpaying for a property simply because you are able to leverage your purchase to the hilt. Acquiring a property with little or no cash down does not mean you are buying it at the right price. If you overpay when you buy by taking on too much debt, you will be too overburdened to get out from under if you have to sell quickly.
Other Methods of Acquiring Properties
Hundreds of publications, videos, courses, eve television productions have been written and produced about various methods of acquiring real estate at bargain prices. We will enumerate on a few of the most effective.
1. The Good Old Local Classified Ads
Mundane as it sounds, this is still one of the best ways to find motivated sellers. If you work a broad area, subscribe to all of the local dailies' Sunday editions, and check the applicable classifieds regularly. Also, check the ads for Realtors who seem to be regularly engaged in selling foreclosures and/or other distressed properties. Call then and let them know you are a "player". If they know you are in the market, they will call you when they have deals available - before they start advertising it to the world!
2. Short Sales
Short sales involve convincing a bank to sell you a property for less than their borrower is indebted to them on the mortgage. Banks will often agree to this if any of the following conditions exist:
A. The property is in very distressed condition;
B. The borrower is in default on the mortgage, and has little hope of bringing it current.
C. Internal bank issues, such as too many loans with arrearages, performance incentives, required ratios of performing to non-performing loans, etc.
In order to transact a successful short sale, try this:
A. Make a deal with a homeowner in distress, and write up a contract.
B. Get the homeowner's permission in writing to for you to contact his lender, and/or the bank to release information to you.
C. Call the Loss Mitigation department at the bank. Fax them the contract, and the borrower's release form, a cover letter why you can't offer a price equal to what's owed, comparable area sales, photos of the distressed-condition subject property, a "net sheet" showing the bank what they will net after closing costs, taxes, utilities, etc., a list of repairs required and their associated costs, and a "hardship" letter, especially one that mentions the one scary word to lenders, "bankruptcy" (which could tie up the property fro several years).
If you are successful in negotiating the short sale, the homeowner may still owe the "shorted" amount to the bank, and may have a deficiency judgment recorded as a result. This may affect the homeowner's future credit. Thus, the bank must agree not to pursue the deficiency, accepting your proceeds as "payment in full". Additionally, the difference between the mortgage balance and short sale may have to be declared as income by the homeowner via a 1099 form. The homeowner should consult a tax professional for advice on this matter.
3. Networking & Investment Clubs
Wherever you go, whomever to you talk to, let them know what you are looking for. Write down the name of every Realtor who's sign you pass while driving, and call them. Regularly attend local real estate investment clubs in your area. Get the word out. Hand brochures out. It's a numbers game. The more people know that you are seeking opportunities, the greater are your chances of getting called with one. Soon, people who you don't even know will be calling you with real estate investment opportunities!
4. Electronic Marketing
If not already, enable yourself to be completely Internet and E-mail capable. Set up a Web site explaining what you do and what you want, and place your URL on every business card and brochure you send out. Make it easy for someone wanting to sell you a property or buy one from you to do this 24/7. Keep track of every investor and Realtor you meet on an E-mail database, for easy mass communication as to your continuous real estate needs.
5. "Driving" the neighborhoods and mass communication
To this day, one of the most common methods among investors of finding deals is driving the streets and investigating the ownership of abandoned properties. Another method used is mass mailing and phone calling to property owners in a given area. Although very time consuming, and certainly not on the cutting edge of current communication efforts, they are still quite effective, and, often the only way to effectively find owners of some distressed properties.
Financing
Now that we've helped you find you an investment property, how are you going to finance your purchase? EquityMax is ready to make a fast "hassle free" hard equity loan to you just for this purpose. As a matter of fact, these types of loans are our specialty. That is, unlike the typical mortgage lender, we prefer to make mortgage loans on vacant, un-repaired properties. We don't care how rough the property or area is. We know that every property has a value, and we will lend against that value. If you're new to real estate, click here for a "primer", so to speak, on hard equity loans.
EquityMax lends real estate investors 75%, up to a maximum of 100% of their purchase price, and sometimes even more! Our mortgages are completely non-qualifying! That is we don't investigate your income, nor do we care if the property is in disrepair. One way or another, we'll make a mortgage loan to you! Borrowers with good credit scores receive the highest LTV's. At EquityMax, there is no "pre-set" credit limit per client or transaction. Each deal and borrower is evaluated individually. To date, our lowest loan amount has been $4,000, and our highest has been $2,000,000. Our rates, points and fees are market based, and competitive with other hard equity lenders serving the same market. Within 3 days of your verbal loan request we will fax you a good faith estimate of all costs, fees, and the agreed-upon interest rate for your mortgage. EquityMax will lend on any property, statewide, no matter where you bought it! If the deal makes sense, we'll do it! make sure you consider these points in evaluating your financing alternatives:
| From EquityMax, There Is: |
|
| No Application Fee |
No Credit / No Income |
| No Mtg. Broker Points (from lender) |
No Tax / Ins. Escrows (for investors) |
| No Appraisal |
No Survey |
| No Roof / Termite Inspections |
No Credit Life or MIP |
|
|
| 1. Our mortgages are assumable! |
| 2. $5,000-$1,000,000 per transaction! |
| 3. Immediate refi's (no seasoning required)! |
| 4. We will advise you of the steps you can take to refinance soon at lower rates! |
| 5. Mortgage brokers and Realtors welcome! |
EquityMax can close loans within 24 hours if need be. We have two full time law firms/ title insurance companies representing us. They can either close the transaction themselves, or overnight or courier a mortgage package to the closing agent of your choice. With over $35,000,000 to lend, EquityMax is Florida's largest private mortgage lending institution catering to the residential real estate investment community. Lending muscle like this allows EquityMax to make the loans you need - on time, every time, and with fast professional service!
If you are new to real estate investing, a mortgage rate in "the teens" may scare you. Ironically, however, if you plan on holding a property just long enough to repair and sell it, then one of our "hard equity" loans may very well be the least expensive way to go. Consider the following illustration:
Who Says Bank Financing is Less Expensive?
(In other words, even if you can get it, do you really want it?)
If you are holding a property for short term gain, hard equity financing usually less closing and carrying cost intensive.
EXAMPLE: Amount of Loan = $100,000
Comparison of Costs over a 4-10 Month Holding Period
| Costs (Approx. & not warranted |
Friendly Banker |
EquityMax |
| Closing costs (related to mortgage ONLY): |
|
|
| Application fee |
| Points |
| Documentation Preparation |
| Credit Report |
| Tax Search |
| Title Insurance - borrower & lender |
| Endorsements |
| Abstracting (if they can get away with it) |
| Recording fees |
| Documentary Stamps |
| Intangible tax |
| Survey |
| Appraisal |
| Roof and termite inspection |
| Misc. Expenses (wires, Fedex, LD Phone) |
| Processing of funding fees |
| Totals | |
| $350 |
| 2000 |
| 400 |
| 50 |
| 75 |
| 1000 |
| 135 |
| 250 |
| 55 |
| 350 |
| 200 |
| 350 |
| 350 |
| 250 |
| 200 |
| 350 |
| 6365 | |
| $ 0 |
| 0 |
| 350 |
| 0 |
| 50 |
| 850 |
| 135 |
| 0 |
| 55 |
| 350 |
| 200 |
| 0 |
| 0 |
| 0 |
| 150 |
| 200 |
| 2340 | |
| Carrying costs: |
|
|
Probable equity loan interest rate from bank =9%
Interest only for 8mos. = 8 x 750.00=
Typical hard equity rate=15%
Interest only for 8 months = 8 x 1250 |
6000
_____
|
10000 |
|
|
|
| Total costs in probable worst case scenario: |
$12,365 |
$12,340 |
|
|
|
| Of course, the property should sell much quicker than 10 months, and accordingly, your financing costs will be dramatically lower with a private lender. For example, here are the comparisons of total financing costs if the property is held only |
|
|
|
| Three Months: |
$8,615 |
$6,090 |
| Four Months: |
9,165 |
7,340 |
| Six Months: |
10,865 |
9,840 |
|
|
|
The quicker you sell the property, the more dramatic the difference!
Let's also not forget about the roughly $3,000-$3,500 additional the bank will take out of your proceeds at funding to escrow for flood insurance and property taxes! EquityMax won't.
Any origination points changed by the hard equity lender can usually be deferred to payoff, thereby saving you valuable cash at closing.
Winner and Still Champion - The Private Equity Loan From EquityMax !!!
Not only is hard equity financing potentially less expensive, but if handled effectively, you can substantially magnify your profits by financing multiple properties at once. Of course, you must leave yourself enough capital to repair the property and carry the mortgage payments for approximately 6 months. Here's an example of how effective proper leverage can be:
|
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
15% Financing (and prepayment penalty) Doesn't cost you. It makes you money and you risk less!! Here's How:
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * |
|
|
|
|
|
|
Scenario One:
Buy one property, for all cash:
|
|
Scenario Two:
Buy two properties, financed at
15%:
|
|
(Close sale in six months & 90% of purchase financed) |
| The Figures |
Scenario One |
Scenario Two |
|
Cost |
Cash Outlay |
Cost |
Cash Outlay |
| Sale Price |
$200,000 |
|
$200,000 |
|
|
|
|
|
|
| Purchase price |
$130,000 |
$130,000 |
$130,000 |
$13,000 |
| Closing costs - purchase |
2,000 |
2,000 |
3,000 |
3,000 |
| Hard financing costs: |
|
|
|
|
| 6 mos. interest @ 15% |
0 |
0 |
8,775 |
8,775 |
| 3 deferred points |
0 |
0 |
3,510 |
0 |
| Opportunity costs (what your money would have earned had it remained in the bank 5%) |
3,250 |
3,250 |
325 |
325 |
| Property renovation costs |
15,000 |
15,000 |
15,000 |
15,000 |
| Water, electric, lawn maint. |
600 |
600 |
600 |
600 |
| Property hazard insurance |
1200 |
1200 |
1200 |
1200 |
| Prorated property taxes and closing costs on sale |
2,000 |
0 |
2,000 |
0 |
| Total Costs |
$154,050 |
|
$164,410 |
|
| Total cash outlay |
|
$152,050 |
|
$41,900 |
| Profit from sale |
$45,950 |
|
$35,590 |
|
|
|
|
|
|
| Cash on return: |
|
30.2% |
|
84.9% |
| Cash on return, annualized: |
|
60.4% |
|
169.9% |
Scenario two presents the projections for only one of the two properties you have purchased. When you double the figures in Scenario Two, you realize that due to the benefit of short-term financing, that in the same 6-month time period as in Scenario One, you produce an additional $10,000 profit while risking $9,000 less!!!
Retail, Wholesale, or Landlording?
What is the profile of a typical real estate investor? Starting investors are usually currently working a steady job, but not happy with their income or prospects for further growth. They try a house or two as a sideline investment. After buying and selling a few properties, your success may very well lead you into real estate investing full time. Once you are in the business as your full-time profession, there are a lot of opportunities that will present themselves. You may generally continue to buy, fix, and sell homes retail.
| Here is a convenient "Worksheet" to use when analyzing a potential purchase. You'll be able to determine very quickly if a deal makes sense. Feel free to print out this worksheet for your everyday analysis
PROPERTY PROFIT CALCULATOR.
| 1. Selling price, after repaired. |
|
|
_______ |
| 2. Down payment |
_______ |
|
|
| 3. Closing costs upon acquisition. |
_______ |
|
|
| 4. Miscellaneous expenses |
_______ |
|
|
| 5. Total costs related to acquisition (Items 2-4): |
|
_______ |
|
| |
|
|
|
| 6. Holding and operating expenses: |
|
|
|
A. Repairs (Always figure more than your
hands-on estimate). |
_______ |
|
|
| B. Mortgage payments for_______months. |
_______ |
|
|
| C. Property taxes during holding period. |
_______ |
|
|
| D. Insurance. |
_______ |
|
|
| E. Utilities. |
_______ |
|
|
| F. Advertising. |
_______ |
|
|
| 7. Total holding and operating expenses |
|
_______ |
|
|
(Items 6A-6F) |
|
|
|
| |
|
|
|
| 8. Selling expenses and closing costs upon sale. |
|
|
|
| A. Real estate commission (maybe) |
_______ |
|
|
| B. Closing costs |
_______ |
|
|
| |
|
|
|
| 9. Total selling and closing costs |
|
_______ |
|
|
(Items 8A-8B) |
|
|
|
| 10. Mortgage payoff(s) |
_______ |
|
|
| 11. Total costs & expenses (lines 5, 7, 9, & 10) |
|
_______ |
|
| |
|
|
|
| 12. Anticipated net profit (line 1 - line 11) |
|
|
 |
| |
|
|
 |
Note: To determine out-of-pocket cash during transaction, add total of lines.
(5+7-6C) |
But you may also buy a few properties inexpensively enough to "flip" them wholesale, that is, for a smaller profit, but no work and a quick closing. EquityMax can help you in this regard, by marketing your wholesale property on our list at no obligation to you!
Also, along the way, you may delve into rental property, and eventually even larger projects such as apartments or commercial property. In today's rapidly appreciating real estate market, holding properties as rentals, or even buying raw vacant land on "speculation" may net you significant gains on the sale of these properties in the not-too-distant future.
Here's another convenient worksheet - one to use when analyzing the benefits of rental property. We've included some examples for you.
|
|
3/1
SFH |
3/1
SFH |
2/1
SFH |
2/1
SFH |
|
|
(leveraged) |
(cash purchase) |
(leveraged) |
(cash purchase) |
| |
|
|
|
|
|
| Average purchase price per home: |
$125,000.00 |
$125,000.00 |
$100,000.00 |
$100,000.00 |
| |
|
|
|
|
| Closing Costs |
$3,000.00 |
$1,000.00 |
$2,500.00 |
$900.00 |
| |
|
|
|
|
|
|
$128,000.00 |
$126,000.00 |
$102,500.00 |
$100,900.00 |
| |
|
|
|
|
|
| Mortgage (based on purchase price); 90% in all cases, |
$(112,500.00) |
|
$(90,000.00) |
|
| except 80% on Pompano 3/1's |
|
|
|
|
| |
|
|
|
|
| Cash investment |
$15,500.00 |
$126,000.00 |
$12,500.00 |
$100,900.00 |
| |
|
|
|
|
|
|
|
|
|
|
| Potential Monthly Gross Income |
$1,250.00 |
$1,250.00 |
$921.00 |
$921.00 |
| |
|
|
|
|
|
5% Vacancy Factor |
$62.00 |
$62.00 |
$46.00 |
$46.00 |
| |
|
|
|
|
|
| Effective Gross Income |
$1,188.00 |
$1,188.00 |
$875.00 |
$875.00 |
| |
|
|
|
|
|
|
|
|
|
|
| Approximate cash expenses-monthly: |
|
|
|
|
|
Average property taxes |
$125.00 |
$125.00 |
$85.00 |
$85.00 |
|
Insurance |
$85.00 |
$85.00 |
$80.00 |
$80.00 |
|
Management (4% of rent) |
$50.00 |
$50.00 |
$35.00 |
$35.00 |
|
Repairs & Maint. |
$60.00 |
$60.00 |
$50.00 |
$50.00 |
|
Reserve for Replacements |
$75.00 |
$75.00 |
$55.00 |
$55.00 |
| Net Operating Income (NOI) |
$793.00 |
$793.00 |
$570.00 |
$570.00 |
| |
|
|
|
|
| Debt Service @ 6.5% interest rate |
$(711.00) |
$ - |
$(569.00) |
$ - |
| |
|
|
|
|
| Before-tax Cash Flow |
$82.00 |
$793.00 |
$1.00 |
$570.00 |
| |
|
|
|
|
|
|
|
|
|
|
| Computing Taxes |
|
|
|
|
|
NOI |
$793.00 |
$793.00 |
$570.00 |
$570.00 |
|
Add Reserves |
$75.00 |
$75.00 |
$55.00 |
$55.00 |
|
Subtract Interest (based on 1st month of mtg. pmt.) |
$(609.00) |
$ - |
$(488.00) |
$ - |
|
Subtract Depreciation (Purchase price÷330 mo.) |
$(388.00) |
$(388.00) |
$(311.00) |
$(311.00) |
|
Unadjusted Taxable Income |
$(129.00) |
$480.00 |
$(174.00) |
$314.00 |
|
Plus Taxable Loss Ineligible to Offset Other Income |
$129.00 |
$ - |
$174.00 |
$ - |
| |
|
|
|
|
|
| Taxable Income |
$ - |
$480.00 |
$ - |
$314.00 |
| |
|
|
|
|
|
|
|
|
|
|
| Compute After-Tax Cash Flow |
|
|
|
|
|
Before-Tax Cash Flow (after adding reserves) |
$157.00 |
$868.00 |
$56.00 |
$625.00 |
| |
Less tax (assuming 30% rate) |
$ - |
$(144.00) |
$ - |
$(94.00) |
| After-Tax Cash Flow |
$157.00 |
$724.00 |
$56.00 |
$531.00 |
|
|
|
|
|
|
|
|
|
|
|
| Compute After-Tax Return on Investment |
|
|
|
|
|
After-Tax-Cash-Flow x 12 ÷ Cash Investment |
12.20% |
7.00% |
5.40% |
6.30% |
|
Average annual appreciation (estimate) |
7.00% |
7.00% |
7.00% |
7.00% |
|
|
|
|
|
|
|
Anticipated annualized return |
19.20% |
14.00% |
12.40% |
13.30% |
|
Now, why don't you fill in the blanks for your own proposed rental scenario?
At EquityMax, we have the expertise to introduce you to all of these areas.
Summary
Here's a brief summary of the entire process of buying, fixing, and selling a single family home:
1. Make offer. Often a very competitive process. If you are dealing with a private owner and/or FSBO (for sale by owner), there may be less competition. However, other issues, like title problems and lack of sophistication of the seller may delay or even squelch your deal. If you are offering on a property through a Realtor, the process is usually smoother. Furthermore, you have professionals helping who know how to get deals closed. EquityMax diligently stays on top of all offers we make on behalf of our buyers in an effort to get a meeting of the minds as to price and terms as quickly as possible.
2. At closing, EquityMax will examine the closing statement to ensure the charges are correct and that our buyers are receiving a clear title commitment.
3. Now you own the property! The rehab process begins. EquityMax is prepared to offer our buyers a multitude of assistance as to how to rehab your property. We have bought and sold over 100 homes ourselves. We know what it takes to prep a home for resale. We know where you should spend your rehab dollars, and where you shouldn't!
4. Begin marketing your property immediately. Don't wait until it's all repaired. There are techniques to marketing it before it's even finished! EquityMax will guide you on how to advertise, where to advertise, how to create a sign, even where to place the sign! Open houses are a great technique also, but only if scheduled and advertised properly. EquityMax will offer you our tips on how to. . .
5. You've got it sold! Now the qualifying process of your buyer begins. Of course, the smart thing to do is to "pre-qualify" your buyer before you even get them under contract. Do you know what questions to ask a buyer before you go to contract (or for that matter, before you even show the house)? We'll help you here again. Sell your house only to someone who will qualify for a mortgage and close!
Of course, the process is a little more involved that the 5 steps above. But really, the only two ingredients missing are experience and hard work. If you are willing to carry out the necessary steps, you should generally be able to buy fix and sell a house in 3-4 months from start to finish, and at a profit of $10-12,000 per property.
The real estate industry is huge! There are a lot of places to look for properties and financing. Why choose EquityMax?
1. EquityMax is one of the few entities that not only finds investment property for real estate investors, but also supplies immediate funding for the purchases. We put the whole package together for you.
2. Answering machines and voice mail are great. EquityMax is equipped with both. However, unless all our phone lines are tied up, the only time you'll get a recording is after hours. During normal business hours, we have live people at all times answering the phone and ready to help you on the spot. Whether you need information about a property, want to make an offer, need a loan, or just plain need advise regarding real estate or mortgages, EquityMax has a full staff of licensed real estate and mortgage professionals to help you. All of our employees are ready and willing to help all of our clients, regardless of who you are normally accustomed to dealing with.
3. Does 15,000 closing seem like a big number? Well, that's how many we've been through, adding up our combined experience, at EquityMax. Although we haven't seen everything (does anyone, ever?), we've seen almost everything! We bring this experience and seasoning to our relationship with you. We will guide you through your transaction, from the time you first bid on the property until you sell it successfully for a profit!
4. EquityMax stays on the cutting edge of technology! Our office is fully computerized and networked. We provide the latest up-to-date information on available properties via both E-mail and fax. That's what it takes in our fast moving industry. We maintain computerized CMA's (competitive market analyses) on every available property on our list and on every mortgage application we take. The CMA contains all the "vital statistics" available on a particular property as well as a dozen (or more) recent comparable sales in the subdivision. These CMA's help us analyze the potential profitability of a property based on an anticipated acquisition price. Only properties whose CMA's indicate enough potential profit are the ones that are published on our list to investors. What if you find a property elsewhere, but would like EquityMax to make you a loan on the property? We'll run you a free CMA for both the purpose of determining our LTV (loan to value) and to guide you as to what we think you'll be able to resell the property for.
5. EquityMax's commitment to you is 360! That is, we don't stop at simply finding you property and funding your purchases. In our ten years of experience, we have developed business relationships with a lot of other people who can help you as well. Here's just a partial list of some of the other professionals who we will recommend to you to enable you to profit in the real estate business: mortgage brokers, institutional lenders, attorneys, title insurance companies, contractors, real estate educators, technology resellers and installers, telecommunications experts, etc., etc . (the list goes on and on).
We've just touched on the basics in this presentation. There is so much more to experience! EquityMax invites you to get started in the real estate business with us at your side! |
