Have A Question..
What do i do if i have found a property for sell by owner..price is 45k but appraises for around 85k in an area of town that houses start around 150k...but i cannot get bc va will not approve i am sure since work needs to be done (only cosmetic) ..do i give someone a lead on this property or try to find other means of financing? This place is to hard to give up but i am running out of options!
Look for money elsewhere. If the deal is what you say, use hard money. Buy the property, fix it up and sell it. Hard money is expensive, but if that is the only way you can make a deal go...just ask will I make enough money to make this worth it.
You may want to flip the contract or wholesale it also.
Is it very hard to obtain hard money loans? And about that last suggestion what exactly is wholesaling? I talked to the seller of the house and she really wants to get rid of it (it was rental property that was inherited and she is tired of doing that)...i really want to get this. Is there money down required for hard money loans?