Any Ideas - Posted by Will

Posted by Dimpil on October 14, 2003 at 05:23:07:

Hard money lenders.

Any Ideas - Posted by Will

Posted by Will on October 13, 2003 at 22:04:46:


I just found several deals that will require an extremely low down payment and monthly payment. I’ve examined both propeties and they are condemned. One is structuraly sound an will take alot of repair to bring it up to code, the other is not structurally sound and will more than likely take a new house.
My question is does anyone have an idea as to how I would get financing for this deal?


Re: Any Ideas - Posted by E.Eka

Posted by E.Eka on October 16, 2003 at 17:41:16:

Why would you consider undertaking a project that may require you to build a new house? Unless it’s free, it would be a sketchy investment. What about houses in the area? Are they being rented? Are the conditions in the neighborhood as condemned as the buildings in question? Hard money would work but how long would it take you to bring EVERYTHING to code? would you have enough cash to make payments on both notes while you bring the properties up to code? Some things to consider.