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Buyer Seeks Luxury Homes

90 days Same-As-Cash Plan

–>We want to buy all your luxury homes with our 90-days-Same-As-Cash Plan.

Goal: We want to purchase discounted Luxury Homes 40% – 60% LTV over $2M from sellers who are willing to refinance the property with one of our co-signers/investors with cash out and by using our 90 day same-as-cash program, the co-investor will purchase the property within a corporation for cash from the owner within the 90 day period.

THE PROCESS FLOW IS AS FOLLOWS:

Identify and locate these luxury homes that fit the criteria as stated above.
Once the seller agrees to the above strategy, we submit a Letter of Intent (LOI) to the seller to purchase the property within the 90 days same-as-cash terms and a lease option agreement during the 90 day period.
Once the LOI is approved and accepted by the owner; we prepare a contract with the above terms. For illustration purposes an example would be as follows:
- Appraised Value: $5M
- Asking Price: $3.3M
- Refinance: 80% LTV = $4M
- Remaining Balance minus fees: = $600K
- Seller Escrow Amount: $200k which includes funds for the 3 months of payments
- Seller agrees to rebate balance to co-investor who will multiply the funds in order to purchase property in 90 days and pay all the refinance fees
- 90 days – Co-signer/investor purchases the property for cash for $4M in the name of a corporation.
Benefits of this approach:
- Seller sells property in 90 days
- Both seller and future buyer are involved in the process
- Seller will have access to funds for purchases within the 90 day period.
Why refinance vs purchase?
- Refinance options allows the loans to close quicker.
- Less paperwork involved in refinance vs purchase.
We are ready to proceed to the completion of these transaction NOW which will be a win-win for all concerned.
The following are in place and ready to proceed:
- The refinance team (underwriters w/lenders) are in place to complete this transaction expeditiously.
- The credit investors/co-signers are also ready to proceed forward with this transaction.
- The program to multiply the funds in 90 days to purchase the property for cash is in place.
If you agree with the framework of this offer, please contact me so we can proceed to draft a formal contract to reflect the terms as stated above