We want you to succeed, loans are structured with your goals in mind.
Private Money Loans
Call (714) 778-5300
1 - Give us a call or fill out the form for a FREE no-obligation consultation.
2 - One of our specialists will discuss with you your qualifications.
3 - After we determine you are qualified, you fill out the loan application..
4 - Once a loan file is complete, you can receive your funding as fast as 72 hours.
JMREI has been making private loans for over 37 years, primarily on non-owner occupied, income producing property which provides a positive cash flow for investors. JMREI considers loans for properties which will generate rental income that will exceed the PITI payments of the borrower, are in desirable locations, and will have an upside to the value of the property. This will ensure that in the event of a foreclosure sale, JMREI will own the property and protect its clients’ investment.
Private Money Loans are funded with individual investors as an alternative to State and Federal Banks. The strict qualifying criteria that are required by State and Federal Banks for borrowers and property restrictions creates a great opportunity for investors to generate monthly income at higher then market interest rates charged by banks. This market is created by banks putting strict regulations on the types of properties they will loan on and qualifications on borrowers that are difficult to meet.
Individual client’s funds are used, instead of State and Federal Bank funds, to originate loans. These funds can be from personal savings, stock portfolios, and pension funds (401K, IRA’S, Profit Sharing, and Defined Benefit Pension Plans), which are not commonly considered as an option to invest into Real Estate.
JMREI Evaluations on the Borrower:
- Credit, mortgage debt, personal bills
- Income, tax returns, bank accounts
- Ability to pay back the loan with income or refinancing
- Judgment of character, sit down meetings with borrowers
Provided JMREI can establish a game plan that benefits both the borrower and the investors, we will proceed with loan approval.
JMREI Evaluations on Real Estate secured:
- In-house evaluation of property value and location
- Verify monthly rental income generated by the property
- Verify operating expenses on the property, including the debt, taxes, insurance, deferred maintenance, and any other cost to maintain the value of the property.
Real Estate Investing / Private Money Loans
A true investment has security which has value that is higher than the amount loaned; that is, interest income that you can feel monthly. The goal is to generate more interest income for you than your living expenses. JMREI structures their private money loans in a way that will insure investor protection, and always follows proper documentation measures with Escrow.
JMREI requires all loans to be impounded to ascertain that your property taxes and insurance are paid in a timely manner. We also take the appropriate measures for protection against default and foreclosures: Investors will always receive payment before Joseph Martelli Real Estate Investments, Inc.
Buying Trust Deeds
JMREI will also purchase private money loans, or loans made by sellers of real estate through seller carry back financing. This is comparable to banks selling the servicing of your home mortgage. It does not change the interest rate and maturity date of the loan.
Joseph Martelli and Investors purchase notes on non-owner occupied income producing property.
Servicing / Private Money Loans:
JMREI Servicing is owned by Joseph Martelli and responsible for collecting and processing all Private Money Loans originated by JMREI
JMREI Servicing Procedures / Responsibilities:
- Collection of monthly payments from the Borrowers
- Pay Investors monthly Income on Investments
- All loans have an escrow account, to pay property taxes and insurance
- Late Notices
- Payoffs and Re-conveyance of Deed of Trust
- 1098’s for Tax Reporting for Borrowers on Interest Paid
- 1099’s for Tax Reporting for Investors on Interest Earned
- Maintaining current Fire and Liability on each property