Profile picture for Brocsmith

I am an America working long time in China and want to return to buy a small house in or near Cedar

City. I prefer a very small old home that I can pay a big down payment.
  • September 29 2011 - US
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Answers (7)

Best Answer

If you haven't filed federal tax returns in the past two years you may need to consider an all cash purchase or private money which is expensive.

Happy funding, Rudi 
  • September 30 2011
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B,

I've lived in MI, IN, IL, FL and SoCal I wouldn't live anywhere else. In fact, most folks that leave SoCal come back, myself included.
 ..... Best wishes.

Happy funding, Rudi 
  • September 30 2011
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Profile picture for Brocsmith
Thanks again Mr Hofmann,
As a "Californian for generations", sad to say, I prefer not to return.
Thank you once more for your prompt replies.
b
  • September 30 2011
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Brocsmith,

Our private money lenders are individuals like you and me. Private money lending is relatively safe and provides a good return on investment for them.

Currently their rates are around 10.50% with an origination fee of 5% of the loan amount. They require 40% equity/down payment. Private money is a short-term solution for borrowers. The usual term is for three years.

We only lend in California.

Happy funding, Rudi
  • September 30 2011
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Profile picture for Brocsmith
You are absolutely correct Mr Hofmann.
What is "private money"?
  • September 30 2011
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Profile picture for Brocsmith
Ok, good idea.
My family and I will be in town the week before Thanksgiving.
b
  • September 30 2011
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Profile picture for Sharon Lewis
Well then I would suggest you come back home and work with a real estate agent to help you. So glad you have a big downpayment. 
  • September 30 2011
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