In the past 3 years we have seen the real estate market coming down due to the credit crisis. There are currently very good opportunities for private investors to buy REO's and fix them up. The issue for most of these investors is that they need to borrow money in order to fix these homes up, and banks are not interested in borrowing money on homes that need to be fixed up. That is where our Private Lending program comes in" said Randy Boetcher, Director at ABEX Group, he continued "By lending to these real estate investors at LTV's of maximum 70 % we give them the opportunity to fix up the house and either sell it or rent it and refinance with a regular bank. At that point we get our loan repaid, these loans are therefore primarily short term and usually are 3-6 months only. The interest rate we can charge is significantly higher than conventional loans because it is so short term."
The company has a large database and system that continuously provides the company with clients who are looking for short term loans based on low LTV values. "That is the opportunity for our investors" explained Patrick Willemsen, President & CEO of ABEX Group Inc, he added "By investing in our Private Lending Program double digit returns can be achieved while maintaining a collateralized position at very secure LTV levels."
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