HELP ME GET MY START W/NO MONEY OUT OF POCKET

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HEY GUYS!!! I'VE FOUND A 4BDRM FORCLOSURE WITH AN ASKING PRICE OF $10,500. I HAVE NO MONEY AND MY CREDIT IS SHOT. I'M OUT OF WORK AND CAN'T SEEM TO FIND A JOB. I'M ABOUT TO LOSE MY OWN HOME WHICH I'M TRYING TO SAVE SOME HOW. PLEASE HELP ME SAVE MY HOUSE AND TELL ME HOW I CAN OBTAIN THIS 4BDRM FORCLOSURE TO RENT OR SELL TO DRAW A PROFIT.

THANKS

APRIL mad

Comments(5)

  • TheShortSalePro29th December, 2003

    You've found a potential deal. Perhaps you can sell the deal to a financially qualified Buyer, and put some cash in your pocket.

    What is the subject property worth in it's as-is condition? Does it need any repairs? If so, can you guestimate the dollar amount of needed repairs, and what would the subject property be worth if/when it is repaired?

  • telemon29th December, 2003

    Yep,
    Need much more information. What is the value of the property? What terms are being offered? How is the property being sold? Repairs needed, etc. You get the picture.

  • norrist29th December, 2003

    Find a local "partner". Not enough info to help yet. Good luck!

  • SirChristian31st December, 2003

    Find a partner to buy property and agree to give you a 'refferal fee in return. As far as saving your own home, go and talk to the bank a s soon as you can to figure out a deal. If none can be found, try to(if possible) sell the home as soon as you can(before you get foreclosed on). Good Luck and I hope this helps(not enough info to really help much).

  • ladyb1st January, 2004

    Maybe you can attempt to put the property under contract, and then contact a "we buy houses ad" found in your local newpaper to see if they would be interested. If you don't have it under contract before you contact them - ask them what type of written agreement you can work out where you can be reimbursed for the lead. This might put some money in your pocket for now. Or find someone you know and trust that has a job and good credit and ask them if they are interested in making a few dollars from a real estate transaction and partner with them to complete the sale, depending on the equity position in the property you can use a hard money lende to purchase and rehab the property and then sell it and pay the loan and your partner and take your cut-- this takes a while and willnot give you immediate income.

    All the best 2 U!

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