Creating Purchase-Money First Mortgages

There are several ways of investing in real estate, such as sheriff auctions, REO properties, bank foreclosures, rental properties etc. These types of investments require specific knowledge in various assorted fields of real estate, specifically comparable sales, negotiating the right price, accurate construction analysis, acquiring accurate information and knowing how much to spend on the rehabilitation of a property to ensure a profitable transaction. Many novice investors lack one of these key components.

IRC Investments has many years of knowledge in all these key components to complete successful transactions. IRC Investments buys title to properties at favorable prices, providing opportunities for our clients to secure funding on these purchases, hence producing high yields on their dollars. IRC Investments then sells these properties to different contacts that have been cultivated throughout the region. We work only with individuals we deem reliable and who we know have the means and resources to rehabilitate these properties and then sell them for the after improved market value. Most investments are typically paid off within one to three years.

IRC Investments creates first private mortgages and bridge loans that apply towards the purchase price and the improvements of these properties. These loans are secured by the property creating a safer investment for our clients, while carrying high yields, often 9 to 14 % per annum, our contractors/rehabbers are willing to pay these yields over a short period of time.

IRC Investments affords buyers the opportunity to purchase these properties, rehabilitate them, and then sell them for a profit while avoiding the expense, delays and uncertainty of institutional bank financing which is not always available for short-term financing and may carry premature pay-off penalties.

IRC Investments affiliated construction company will review the proposed construction and then draw up a draw schedule to insure accuracy and profitability of the project, once everything is approved. Built Rite Construction will inspect the quality and completion of work and approve the release of each draw until the project is completed and ready for market re-sale.

IRC Investments is expanding its activities in a number of regions with the intention of financing and re-selling a substantially greater number of properties. This expansion will create a growing number of high-yielding PM mortgages, therefore producing attractive returns. IRC Investments is currently in the process of purchasing 1,100 residential and commercial parcels creating over $ 400 million in new residential and commercial properties. We will be pleased to discuss funding for these transactions with clients interested in funding such loans that are created.