Owner Financing Using VA For Improvements....
Has anyone ever obtained a home thru owner financing and then used a VA Loan to fund the improvements?? I have really gotten to the point where I am DONE w/ thinking about taking the first step and wondering what lies ahead for me in this real estate business. I am ready to do whatever I have to in order to get started and experience my first success.Due to the fact that my credit has hindered me from my original plan of action which was to obtain a loan thru a HML, I have no choice but to seek alternate routes of making this thing come together. And procrastination due to credit is NOT an option.
Does anyone have any suggestions?? :-?
I'd say if you found ther right deal ANY HML would loan you $$. If you find something at 40% ARV, borrow another 20% on draws as you go to fix 'er up, then sell; I think that's the beauty of Hard $$, lenders only care how the deals' numbers work, not how YOUR numbers are.
But, I don't know.
Just my 2c
Sam