On 05/15/2010 Peter Cennamo announced their plans to take The Alternative Funding Group (AFG) public in 2011 and their new merger with Apex Investment Services this week in Sydney. The Alternative Funding Group serves as a Hard Money Lender for Non Owner Occupied Investment Properties. Apex Investment Services is one of the leading Investment Firms in Australia.
Peter Cennamo says their partnership with Apex Investment Services will provide them with a dominate partner in the markets as well as provide them with an in house expert in currency trading.
“Having a partner like Apex Investment Services will allow us to benefits from investments made in the currency markets while continuing to acquire as much investment property as we can within the US Markets” says Peter Cennamo CFO of The Alternative Funding Group.
Hard Money lenders assume the majority of the risk in real estate investing by only investing in properties at a profitable LTV (Loan to Value) Percentage. The actual investment property is used as collateral therefore there is no need to use the investor’s money or in most cases their credit. Hard Money Lenders are simply looking for really good deals, and to establish a profitable relationship with investors based on their ability to eventually sell the investment property.
Thomas Rothstein of the Real Estate New Network ( www.thomasrothstein.org ) says “the sweetest deals going right now for investors are currently offered by The Alternative Funding Group.” Despite the fact that AFG will only fund deals within certain states, there are no requirements that you actually live in one of their servicing states. The basic requirement is that you have at least a 680 FICO (credit score), and at least four months of monthly mortgage payments in the bank in case the home does not sale within the allot time frame you requested.”