GBT Legacy Homes, LLC
Who We Are
GBT Legacy Homes, LLC is a professional, full service real estate solutions firm that buys and sells properties throughout the Dallas and Fort Worth area. We specialize in buying distressed homes at a significant discount, and renovate and resell them to retail home buyer and investors.
Our Competitive Advantage
Our company can acquire great deals on properties because we have the ability to act quickly and can close with CASH on the seller’s timeline. This is why we can buy properties at such a discount. Obtaining loans through private money lenders gives us this competitive advantage over other investors who sometimes take weeks to go through the time consuming bank approval process in order to purchase properties.
Our renovation process is also down to a science with handpicked and proven construction crews who know we are not retail clients. We pay wholesale prices to all contractors and typically get bulk discounts on all materials.
With your cash funding, we can offer homeowners something that very few buyers can, purchasing their homes in their timeline -- in as little as 10-14 days. Knowing that we’re going to renovate the home and we are buying in as-is condition is a very important factor to sellers. Most homeowners have no idea what options are available to them beyond listing a house with a Realtor or trying to sell the house on their own and just hoping for the best. We provide a unique alternative to listing their house on their own or with a Realtor. When we work directly with a home seller, what we provide can not only make for a smooth transaction, but it can also add up to thousands upon thousands of dollars in savings as compared to selling a home through traditional means.
How The Process Works
The process is simple. We find an extremely undervalued property we want to purchase - and once you give us the green light, we borrow the funds from you to purchase and renovate the property. At closing, you receive a mortgage on the home along with other important documents. Next stage is the property renovation. Once the renovations are complete (typically 3-6 months depending on the size of the project), we’ll list and sell the property. When it’s time for closing, you’ll receive your principle plus interest payment. It’s just that simple! The goal is to keep turning that money for you and keep you making substantial profits so you keep coming back to us building a long term mutually beneficial relationship.
If you would like a detailed report about our company and how our program works you can print our Private Lending Packet.
When working with private lenders, $50,000 is our minimum standard investment. When first investing with us, a lower initial investment amount may be agreed upon to ensure you’re confident when working with our company.
Mortgage Terms: The majority of our loans are set up on an 8-12 month note; however, it depends on the size of the project. If we are doing a teardown and rebuild, we will have to wait on the inspectors for many approvals - thus causing delays and the need for longer terms. We account for all of those details upfront and will give you estimated time frame for the return on your investment. Also, we do not pool funds, your funding will be tied to one piece of property secured by a deed of trust.
Payment Schedule: Typically, we pay one large lump sum at closing on a short-term note. This is much easier to manage for both of us, especially if we’re working out of a retirement account. On a longer note, we will pay monthly just like a typical mortgage.
1st or 2nd Lien Position: The Investor, as “mortgagor,” has the right of first lien holder and Power of Sale on the property. The 1st lien position is placed behind a senior mortgage. You are probably used to hearing the term first and second mortgage. The second mortgage is a junior lien because it’s in 2nd position. The senior lien or first mortgage must be paid prior to the 2nd lien.
If you aren't ready to invest with us or would like to be included as a VIP Private Lender and receive updates on properties available to fund, sign up now by filling out our Private Lender Questionnaire. We will only notify you of deals that fit your criteria so if you receive a notice, rest assured it is a deal you would be interested in participating.
We Protect Our Lenders
Mortgages offer the banks solid, long-term, fixed returns. You can put yourself in the position of the bank by directing your investment capital, including retirement funds to well-secured real estate mortgages. Each property we acquire is put through a rigorous evaluation process in order to assess the profitability before the property is ever purchased. “lntegrity" is an essential part of our business, and we only make sound investment decisions. Also, for your protection, you are also provided these documents to secure your investment capital:
Promissory Note: This is your collateral for your investment capital p
Deed of Trust/Mortgage: This is the document that is recorded with the county clerk and recorder to publicly secure your investment against the real property that we are providing as collateral.
Hazard Insurance Policy: This is where you as the private lender would be listed as the “Mortgagee” for your protection in case of fire or natural disaster, etc. We do pay for a title search as well as a title policy on the home just as we would in a typical transaction. You’ll be named as a mortgagee and notified if the insurance was not kept current. In the event of any damage to the property, insurance distributions would be used to rebuild or repair the property, or used to repay you.
Once you see a deal you like then call or email us and we can get started immediately. Act fast as the deals usually go fast.
Not in the area and want to learn about the Dallas Fort Worth demographics? Here is a resource to do some research on our area.
Word of mouth is typically how we are able to work with private lenders like you. It would be greatly appreciated if you passed our information on to anyone that may be interested in the opportunity to be a lender. In our business, it’s always important that we have a steady stream of lenders. Once you’ve done a few deals with us and you’ve learned how we’re purchasing so low, you may attempt to do it on your own. If that’s your goal, we’re happy to help you any way we can.
PRIVATE LENDING OPPORTUNITIES
Do you have capital that you want to protect your principle as much as possible while maximizing your returns?
Real Estate can be a lucrative resource to grow your capital and we can partner with you to help you earn as much as possible.