Can this be done? - Posted by Nick

import · December 11, 1999, 6:22am

Posted by Nick on December 11, 1999 at 08:04:25:

Thanks, I’ll work on the flip.

import · December 11, 1999, 6:22am

Posted by Nick on December 11, 1999 at 07:22:44:

I found an $80k property that I can get for about $50k.

I am almost certain that I can get a hard money 1st for 65%-70% LTV.

After closing there will be only about $24k in equity, little if any cash.

Is there a way that I can crank out $8k with a second? Do any note buyers make this kind of deal?

Thanks a bunch from a newbie REI.

import · December 11, 1999, 6:47am

Depends - Posted by PBoone

Posted by PBoone on December 11, 1999 at 07:47:42:

Does the property support the additional 8K? Where is the 8K going to be used?
If the property has an “as is” value of 80K then you might try a retail flip. It would give you some cash and payments to follow.
Pat