Re: 2nd Mortgage - Posted by Stew(NE)
Posted by Stew(NE) on October 31, 2000 at 20:08:56:
I also live in Omaha and have a couple of rental properties. I have found a good deal but my cash is tied up in a rehab. I have found a home that would cost you about 98K that has a FMV of 125K to 135K. It is a foreclosure and you would have to move on it pretty quick (i.e, have 13K cash within a week). It is in Bellevue 2922 Daniel Circle, behind the base hospital. I have a technique that can get you in it for 13K and show you how to get a 90 day no payment commercial loan for the 83K (This will depend on your credit). I am not doing this out of the kindness of my heart (Sorry). 1K of the 13K would be my fee. The property is in foreclosure and needs about 10 to 15K of work. I will be happy to explain all the risk to you. Give me a call at 339-7096. Please don’t take this as a solicitation. I saw your post and thought you might be interested. If not, good luck in your investing. I am not a Real Estate agent just an investor on the side. I work at FDR and I am retired military.