Private Lending
with Midland Home Solutions, LLC
Dear Investor,
Midland Home Solutions, LLC buys several houses each
month in the Columbia Area.
When we pay cash for a house, we use private lenders
instead of using our own funds or bank loans. Since we
get a high return on our own cash, we can offer our
private lenders a high yield when using their money to
fund our deals.
Maximum loan to value is 80%. That means we will borrow
up to $80,000 on a $100,000 property. The money we
borrow is secured by a 1st note and a Mortgage on the
specific home. Our investor gets 12% to 16% interest.
Monthly or Quarterly interest only payments can be made
or earn a higher percentage by letting the interest
accrue until the house is sold..
Interest only payments keep 100% of your principal
working for you. Most loans have a balloon payment due
in 1 to 7 years. The term is decided by the investor’s
desires.
Sometimes we borrow offering a 2nd Mortgage. For
example, if there is a first mortgage for $50,000, then
we can offer our investor a second mortgage of (up to)
$30,000. In the case of a second position, we pay 16%
accrued interest. Some second mortgage Loans needed are
as low as $5,000.
All private lenders get:
- Promissory Note
- Mortgage recorded on the property
- Added on to the hazard insurance as the
mortgagee
- Copy of an appraisal or market analysis report
We pay all costs involved to close the transaction.
There is no cost to the investor.
To invest, we would first find out how much you are
looking to tie up and for how long. We would then look
for a deal that will met your criteria. Once located, we
would call you, give you all the details and then you
would decide to participate or not. There's never any
obligation until after you approve the deal.
We never co-mingle or pool funds together. One
investor... one note and Mortgage
All the houses used as collateral will be located near
Columbia SC and surrounding areas.
If you have funds in a retirement account, you can use
them to invest. The IRS requires the use of an approved
custodian to qualify for tax deferred or tax free gains.
We recommend the Equity Trust Company at
www.trustetc.com to create a self-directed real
estate retirement account. I will be glad to discuss
this with you further.
To learn more, or to be added to our private investor
list, please call or
submit this form. Your questions
are always welcome.
Sincerely,
Todd Strickland
Managing Member
866-496-9375 ext 4
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