Financing Expert Needed!!!!!!!
I have found the first property I would like to invest in, the only problem being I need to find some very creative financing. This SFH is a nice house in a decent area that is in pre-forclosure. I could flip or keep and rent it out. Either way it would be sure to make some cash. I'm pulling my hair out trying to figure out how to get this done. Can somebody, anybody offer any suggestions, help, anything!!!! I've done a ton a research on the house the and the area.
So if your willing to help or have some advice, please leave me a message or see my profile for my email. Anything would be greatly appreciated. Thanks in advance. You are all so beautiful.
That is not how this forum works.
Put down the details of the scenario, ie,
do you need to short sale it, can you do a subject to, etc....
We will be willing to help you.
Jeff Adam
[addsig]
Ok, here is some more info
seller owes=108,000
listed @=109,900
FMV=135,000
repairs=2,000
This house is only 12 years old. 3 bd/ 2 bth, raised ranch. Only con, it has no garage. Seller won't talk. Do I have any options? I have poor credit and little to none for investment, I would like to stay away from using my personal residence to finance this investment, but if it will make me some cash I will. I also know that I will also may need some back up cash if the house sits. Any suggestions?
Once again thank you in advance for any help.
Depending on where its located, I may be able to help. And if I can't I'm sure I know someone who can.
Is the house a fsbo or is it listed with a realtor? Is the owner in pre-foreclosure? Call some local mortgage brokers and ask if they have some programs for investors with bad credit.
Not really that great of a deal at 80% of ARV. If you could sell really fast without a Realtor and no carry costs you could make some money. If you had to do a hard money loan you will not be able to borrow enough to do the deal. If you could cure the default and fix up with your own money or a partner you could make a few bucks but a partner will want half.
Good LUCK and Thank You
Hope this helps some
Ted Jr