Dear Investor,
Petra Housing Solutions buys several houses each
month and has been since 2001.
When we pay cash for a house, we use private lenders
instead of using our own funds or bank loans. Since we get a very 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 deed of trust (mortgage). Our
investor gets 7.00% - 10.00% interest. You will receive interest only payments.
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 deed of
trust. 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 10.00%.
All private lenders get:
·
Promissory Note
·
Deed of trust recorded against the property
·
Added on to the hazard insurance as the mortgagee
·
Copy of an appraisal or market analysis report
·
Lender’s title insurance
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, I 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 deed of trust.
When you decide on a deal, you’ll send your funds
directly to the closing agent at a local title company when we’re ready to
close. We'll never accept your funds directly.
For some investors we can offer selling existing
notes secured by real estate at a discount to yield 7-10%. These types of
deals are less common but opportunities to buy discounted notes occur now
and then. Discounted notes would require further explanation regarding
risks.
All the houses used as collateral will be located in
Maricopa County.
A majority of my private lenders currently include
many of my family members, seasoned business contacts and previous sellers
I bought property from. Only recently have I opened this to others
visiting our website.
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. I recommend
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,
Keith
Young
President,
Petra Housing Solutions, LLC
Phoenix, AZ
602-295-7359
Petra Housing
Solutions, LLC
Phoenix, AZ
85043
Phone:
602-295-7359
Email:
exec@petrabuyshouses.com
© COPYRIGHT 2005 ALL RIGHTS
RESERVED
PETRA HOUSING SOLUTIONS, LLC
