hi ed,
i just wanted to clarify somethings.didn,t want to mislead you.we had 2 resale properties. we sold 1 and we have a 12 month lease on the other one which started feb01.we are using the equity from the 12 month leased property to do other deals but we only have about $50,000 to play with.we are trying to obtain numerous properties, either for resale or lease them.we need to obtain further financing to accomplish this.if we tie up the $50,000 in one rehab then we have to wait until it is sold to do other deals.we are presently looking for good deal(like to do more then one at a time)but not sure which direction to go with our $50,000. please advice. i also have another question about pulling equity from investment property, i will do another post thanks john
hi ed,
my brother and i have done a few rehabs with money from a home equity credit line(approx 60,000).my credit is poor but his is very good.we have been doing all cash deals for the rehabs. problem is we are left with next to nothing to invest with until the rehab sells.could be months. we would like to do numerous deals but not sure how to finance them.we would be looking for short term(few months until repayed)loans.we don,t have verifiable income per say.we are in florida and need help to finance deals. could we qualify for hard money loans? and do you or do you know someone who could? thanks john
Posted by Ed Garcia on March 10, 2001 at 12:09:33:
John,
Although you’ve highlighted you situation, we need to talk. I need to know what stage the houses you have are in, from the standpoint of fix up. Are they ready to go? What is the equity etc?
Why don’t you just call me and we can talk about your situation. My number is (909) 944-0199.