Clueless about paper - but may have great oppty - Posted by Heidi W

import · February 21, 2002, 1:07pm

Posted by Ben on February 23, 2002 at 08:51:06:

What is the purchase price?

import · February 21, 2002, 1:07pm

Posted by Heidi W on February 21, 2002 at 14:07:18:

Hi All,

I have a house I might be able to put under contract for a limited amount of money.

Here’s the facts: ARV $440, Mtg $150, seller willing to wait for equity (but would probably like the idea of getting $30-$40 now to cover moving expenses and fix up on new place (already 1/2 purchased - new home under construction, still owes $150K, but he said he could get a loan)

I’m trying to put together a couple of offers, and if any involve bucks - I don’t have it. So I thought maybe a person involved on this site may have some suggestions. How would I go about finding someone to loan me $30-40K? They’d get a 2nd interest in a house worth $440K, I’d think that’s a pretty good risk.

Honestly, however - I’m clueless about all of this - so if you do respond - please speak to me as if you’re explaining to a complete neophyte.

Thanks,
Heidi