Archive for May, 2008

Luxury Investors Find That Rent to Own Homes Cash Flow Best

Friday, May 16th, 2008

 

In a study put out by the Gershwin Group on Monday, investors with investment real estate were found to be utilizing over all other methods of long term holding as the fastest way to cash flow their investment properties.

The study highlighted the three methods of retaining properties for long term capital appreciation and their effectiveness:

- Renting
- Renting via government assistance ( Section 8 )
- Rent to own (lease option)

The study was backed by a 10+ year poll of independent investors that answered questions relating to their success or failure of each methodology.

Overall, renting to own a home lead the pack with 78% of respondents saying that the method was the most successful long-term. The effectiveness of renting to own was clearly beneficial over other methods because in most cases the monthly mortgage and related expenses were entirely covered. Only as few as 12% of the renters ended up actually excising their option to purchase and they were found to pay on average a staggering 17% higher than normal price for the home. To further compound the benefits, investors received larger down payments, $5,625 on average and properties were maintained better by the renters. Much of the improved maintenance stems from the renters hope of future ownership. 14% of tenants were found to improve properties on the order of at least $25,000.

Overall, we see the use of rent to own homes by savvy investors to increase. With foreclosures amplifying, the market for tenants will continue to grow. This is an excellent time to own rental property but smart investors will consider a rent to own option instead.

For sellers interested in renting to own you should see the following nationwide company, which provides free listings and a wealth of lease option information.

If you need help with refinancing an investment property for superior cash flow or wish to obtain a purchase money mortgage give me a call. 

Jeremy Stayton / Luxury Financier
Luxury Mortgage Group
Office:  (702) 444-0400
Cell: (702) 308-7567

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New “Affluent Advantage” Program From Luxury Mortgage Group Offers Exceptionally Low Interest Rates on Super Jumbo Mortgage Loans

Thursday, May 1st, 2008

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Effective immediately, Luxury Mortgage Group is offering our affluent clients a new mortgage program “Affluent Advantage” which provides qualified borrowers with the opportunity to purchase or refinance luxury properties at interest rates of 4.5% (APR of 4.6 to 4.97%).

This program offers unprecedented interest rates for savvy borrowers that want to borrow money at rates lower than any other commercial or institutional lender can currently offer.

Only a select number of highly qualified borrowers will be admitted into the Affluent Advantage program. All buyers will first need to be pre-qualified by Luxury Mortgage Group and certain restrictions apply. Once approved, those selected for entry into the program will be offered.

Affluent Advantage Program Highlights:

  • Financing on , and luxury home properties.
  • Loan-to-value ratios of up to 100% using a blanket loan or by . Up to 75% for traditional loans. (See below for an LTV matrix)
  • FICO scores can be completely overlooked for this program for high income or high asset borrowers.
  • US Citizens, Permanent Resident Aliens and all qualify.
  • The program is for Non-Owner Occupied properties or Foreign Nationals buying a N/O/O or Second Home ONLY (No owner occupied homes). 
  • Total mortgage borrowing ability is capped at five times annual earnings.  (In example: a borrower making $1M/yr is capped at TOTAL mortgage debts of $5M).
  • Some Income and Asset documentation will be required (No borrowers).
  • Interest rates start at 4.3% for up to 30 years is offered.
  • All files are manually underwritten and diligently analyzed by committee, therefore expect 30-60 day closing times.
  • The program is initially being offered in 10 states (see below).
  • Loan amounts from $250,000 up to $50 Million Dollars.

LTV Matrix:

  • 100% Financing is available by  or cross-collateralizing multiple properties.
  • 75% Financing for loans of $250K up to $2M
  • 70% Financing for loans from $2M to $4M
  • 65% Financing for loans from $4M to $50M

States Covered:

  • California
  • Colorado
  • Connecticut
  • Florida
  • Hawaii
  • Nevada
  • New Jersey
  • New York
  • Oregon
  • Washington State

This program blends common sense underwriting and the analysis of repayment ability with an uncommon source of exceptionally low priced funds.

“Traditional lenders aren’t as interested in lending to super jumbo borrowers because they’ve experienced huge losses on many of the mortgage loans originated in the past few years. The whole sub-prime mess has pushed banks and large lenders away from being able to help luxury borrowers. After four months of dialogue, negotiations and diligence our backers have given us their blessing for this offering,” said Jason Fox, President of Luxury Mortgage Group. “Our clientele expects us to provide them with rates and terms that no one else can provide. By creating this new Affluent Advantage program, our clients now truly do have options that no one else in the world can offer. We will continue to expand our market share all throughout 2008 while we see other lenders struggle to offer mortgage loans at all.”

“This is an amazing opportunity for borrowers looking to refinance or buyers of luxury high rise condos and luxury homes,” says Linda Wilson, VP / Director of Operations at Luxury Mortgage Group. “Our Affluent Advantage mortgage program offers interest rates lower than what Fannie Mae / Freddy Mac conventional conforming programs currently offer borrowers. Jumbo and programs have traditionally cost a half of a percent over conforming conventional rates and luxury borrowers have been penalized for obtaining larger dollar amount loans. This new Affluent Advantage product makes a wonderful addition to our exemplary commitment to the finest level of services that our clientele has come to expect. As the only direct lender to specifically focus on the financing of high rise condos, condotels and luxury homes, we are proud to shape the luxury finance market in America,” Wilson said.

Luxury Mortgage Group, Founded by Luxury Financier, Jason Fox, is the only direct lender with a core niche focus of financing high rise condos, condo hotels and the most noble of luxury homes. Recognized by national press, media and peers alike as the leader in luxury finance, Luxury Mortgage Group continues to serve as the most exclusive financier in the world. While others diversify, Luxury Mortgage Group remains committed to what’s best.

To get started with Luxury Mortgage Group please submit a request using our , Dial (702) 444-0400 x1 or .

You can also view our other luxury websites:

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