Shay Properties, LLC is a full scale
home repair and renovation company
*Licensed & Insured*
Established in 2015, Shay Properties LLC is a full-scale renovation company. We specialize in residential remodels, investment property rehabs, general repairs, and updates. We also work with many investors who are looking to flip homes for a profit.
Call Shay Properties today for a free consultation!
(616) 318-8383
Home Remodel
Full Kitchen & Bathroom Remodels
Roofs & Siding
Windows & Doors
Carpet & Flooring
Plumbing & Electrical
HVAC
Interior & Exterior Painting
Interior & Exterior Trim Work
New Decks
General Home Repair
Sink & Faucet Replacements
Drywall Repairs
Light Interior & Exterior Painting
Light Electrical & Plumbing Repairs
Flooring Replacement & Repairs
Tub, Shower, & Toilet Replacement
Window, Door, & Trim Install
Cabinetry Repair
Deck Repair
Home Renovations
Our Home Remodels encompass all services listed under Home Renovations, General Repairs, and more… but on a much larger scale.
We Buy Homes for Cash
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Investment Opportunities
Shay Properties, LLC is a professional real estate investor and would like to introduce you to methods that give you greater control over your investments and safely make them grow at two to five times your current rate. Does this sound too good to be true? Well, the truth is, it is not! Many private investors just like you are currently enjoying these rates of return with minimum or no risk.
Smart investors have been utilizing this investment opportunity for years. In fact, there have been entire companies built around this very strategy.
This is an extremely safe investment that produces a high rate of return while at the same time provides a higher level of security and liquidity.
You’ve seen how unsure and volatile the stock market can be. Do you want your future to be controlled by the events that take place on the other side of the globe? Well then, maybe it’s time to consider other alternatives.
Private Loans Secured by a Mortgage
So, what is a Private Loan? It is a loan made to a real estate investor that is secured by real estate. Private Loan Investors are given a first or second mortgage that secures their legal interest in hte property and secures their investment. We are not talking about high Loan-To-Value (LTV) ratios the banks or savings and loans institutions make on homes. We offer very low LTV ratios to our Private Lenders to increase security of the loan. Our standard LTV ratios are under 75% of the value of the property securing the loan and frequently as low as 60-68%. This means additional security on the investment.
For example, if a property is valued at $100,000, our Private Lender will have to loan more than $75,000 on the property. That’s a 75% LTV ratio. This is obviously a much safer approach from that taken by conventional lenders. These banks get in trouble because they make loans at an 85%, 90%, or enven 100% LTV ratio leaving no equity for transfer costs if they are ever forced into a position where they have to take back the collateral property.
You, as a lender, will never lend more than 75% LTV. Also, it is in your best interest to minimize risk and maximize return, this is why a loan should never be made withough a 25% safety net. We don’t violate this rule, because your security is at stake.
Private lending is an incredible way to build wealth in a way that most people aren’t aware exists.
Frequently Asked Questions
Who borrows at high rates and why?
Investors like us do because we have learned in our business that it’s not the cost of money that matters, but quick access to the funds so we can capitalize on opportunities.
Shay Properties, LLC can acquire good deals in properties because we can act with lightning speed and can close with cash. Private loans give us this competitive advantage over other investors who take weeks to go through the bank approval process in order to purchase properties.
Additionally, if a real estate investor locates a good deal on a property, many times the bank wants to loan on the PURCHASE price and not the VALUE of the house, thus penalizing the investor for finding a great deal. having access to money is generally a deciding factor in investing in real estate, so paying a higher interest rate is irrelevant when compared with the risk of losing the deal.
What is the minimum investment?
The minimum investment is $100,000. However, this amount may be negotiable. There are a lot of options available.
Who handles all the details?
We do! It’s our job to get you proper documentation and to protect your interest. All of this costs you nothing. The borrower pays all costs. If you make a $100,000 loan, you send a check for $100,000 to the closing attorney and you get a mortgage for $100,000.
How do I get paid?
Shay Properties, LLC will set up your account. Just sit back and we will send you a quarterly interest check for the duration of your investment. If you would like a monthly check, we can do that too! However, the majority of our investors prefer to receive a one time, principle plus interest payment after the completion of a project. For accounting reasons, this is a preferred way for our company as well.
Is this a long-term investment?
Generally, your investment is tied to a specific project with a timeline ranging from 3-12 months. We have lending programs for short term holds of 3-6 months. We also have longer-term holds of 1+ years. You can pick a term that suits your strategy. It’s your money and it’s your choice.
What if I need to liquidate?
If you want out, a 60 day written notice is required, because we will need to replace your funds with another investor’s money. You really shouldn’t make mortgage loans if you feel you will liquidate this shortly, but the option is always available and we have been able to liquidate in as little as 2 weeks in some scenarios. Also, unlike with a bank CD, there is no penalty for early withdrawal. Just contact us and we will handle all of the details.
Is my investment really as safe as it sounds?
Yes! We always follow these common-sense guidelines that we’ve talked about. Your money will grow two, three, or even four times faster than your current investments and you maintain control.
Each one of our properties that we acquire is put through a rigorous financial evaluation in order to evaluate the profitability before the property is ever purchased.
Remember that making loans is a business and should be treated as such. If you set up a simple system and let the professionals implement the system, your loan portfolio can be hassle-free and produce staggering yields.
How do I use my IRA or pension plan?
Making real estate loans is a widely accepted use for IRAs and other retirement plans. Most people do not know that you can make private mortgage loans using the funds which are already in your IRA and other retirement plans. Think of the power of loaning out funds at high-interest rates that are TAX-FREE or TAX DEFERRED!
In order for you to use retirement accounts for loans, they must first be administered by a third-party custodian. One custodian we commonly work with is Equity Trust Company. You can visit them online or just talk to us and we’ll help you with the set up of your account.
After selecting your custodian, you simply send a transfer form to them and they’ll do all of the work for you. Once you’ve done that you’re ready to make private mortgage loans.
From there, you just notify your custodian about the investment you are looking to make and send the check for the gross amount of the loan. Even better, we can do all of the work for you and you just sign a few documents, sit back, relax and wait for your money to grow tax-free or deferred like grass on a Spring morning.
What are my options if Shay Properties, LLC doesn’t pay?
Actually, there are many options, but first and foremost please be aware that INTEGRITY is an essential part of our business and we only make sound investment decisions. One of Shay Properties, LLC’s distinguishing features is that we have NEVER been late on a payment to a private lender.
Additionally, our company’s policy is to invest our own funds into every one of our projects because if we aren’t confident in our investment descisions, why should you be? Likewise, if we ever lose the support of investors then we can no longer operate our business and our own investments would be at stake.
However, to answer the question:
- We could restructure the payment schedule on the note. For example, let’s say that we are behind on payments to you. Now Shay Properties, LLC can and would like to keep the house, but they can’t come up with enough money to bring you current in one lump sum. You could let us continue to make regular payments and make an extra payment on our arrearage in addition, or you could simply add the arrearage to the principal balance and extend the term of the loan. This means you would be collecting interest on interest for the entire remainder of the loan. There are always ways to work it out if both sides are willing.
- Have Shay Properties, LLC deed you the house. This is an opportunity for you to get a house at a greatly discounted price. When this happens, you can create tremendous profit by reselling the house.
- If left with no other option, you can simply foreclose. Foreclosure isn’t as time-consuming and costly of a process as most people think. It is as simple as sending your note and mortgage to an attorney and saying “foreclose.” All you have to do then is sit back and wait. 9 out of 10 times, before foreclosure is complete, someone will be calling your attorney’s office with a payoff letter and your loan will get paid off. When this happens, you will collect all accrued interest, your principal balance, as well as all attorney fees, court costs, and all other expenses you have incurred in connection with your loan.
If you wind up with the house, that doesn’ mean you have to keep it. It can be sold immediately at a fair sale price and still produce a profit over and above the already high yield of your loan.
What kind of documents should I, as a lender, receive?
Your closing package should contain the following:
- A copy of the mortgage. The original will be recorded.
- An original PromissoryNote.
- A hazard insurance endorsement naming you as mortgagee.
These documents provide you with the security you need and the return which you desire.