Financing

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Specializing in Memphis and Atlanta Properties

Dear Prospective Client,

Thank you so much for your interest in working with Memphis Investment Properties, LLC. It is our pleasure to have the opportunity to work with you. We hope you will select us as your provider of quality, highly discounted investment real estate, so you can take advantage of the robust, full-service system we have developed especially for you.

Since most properties we work with are either distressed or undergoing renovation, it is critical that you are able to obtain efficient, low-cost, suitable financing, which will allow you to acquire investment homes quickly. Because of the rapid pace at which these transactions occur, you must be able to show us proof of adequate financing before we can accept a contract to purchase one of our investment properties.

Below are methods used to purchase investment properties from Memphis Investment Properties.

  1. Cash – We will need a “proof of funds statement” from the institution where the money is located evidencing that there are available funds to purchase the home.
  2. Lines of Credit (such as a Home Equity Line of Credit or Business Line). We will need a statement showing liquidity sufficient to purchase the home.
  3. Self Directed IRA or 401(k) – We will need to see a proof of funds statement, as well as a policy statement from your custodian, indicating that you can legally purchase investment homes within your IRA or 401(k) in compliance with said custodian’s rules.
  4. Hard/Private Money – This creative method allows you to purchase investment property with limited out of pocket expense. This will work only with hand selected property. Speak with your sales consultant for a detailed list of homes that qualify. See Example
  5. Conventional Financing – Using this purchase method, you will put down 20% - 25% of the purchase price and finance the balance with a bank. See Example 
    Please Note: We will need a completely underwritten file, which includes a full documentation packages with W – 2 forms, tax returns from the past two years, bank statements, proof of funds showing seasoned liquid reserves, and any other documents that may be necessary. 
    We also need to know that you do not have more than four financed properties, including your primary home. If your lender will allow you to purchase up to 10 properties (or more) using financing, then we will need a letter outlining that program, along with their contact information for verification.
  6. Private Financing Program – This creative approach works as follows: You put down 40%-50% of the sale price and our private lenders will carry the rest for five to seven years. You will own the home free-and-clear at the end of the term. Please note: this program is only available to clients who purchase their investment homes from our company . See Example

 All prospective new clients are required to show these documents prior to our acceptance of any purchase contract.