Forclosure Financing Help - Posted by Chris Jesse

Posted by Chris Jesse on December 03, 2008 at 11:44:10:

Hello,
I have recently purchased a duplex for 23,000 in antigo, wi. I had my grandma co-sign because I am in college and I am not working many hours. Finally the loan went through and I have now found another property that is a foreclosure. Its a duplex, 6 bed 2 bath upwards of 2400sq. ft. Two brand new high efficiency furnaces and newer water heaters. Everything seems to be divided. Structurally the home is sound. The kitchens are in great shape, and new drywalled ceiling throughout the duplex. Most of the floors are good but need some replacing here and there. This property will rent for over $500/unit with tenant responsible for utilities, except water. The bank was asking $36,900, and recently lowered it to $31,900. Property taxes are $1329. It hasn’t been on the market for more than a month and I really want to get this property. The only problem is my grandma cant extend her credit any further. I need to know any ways I could finance this. My family doesn’t have the money to do so. I was thinking a hard money lender but im not sure. I was also thinking about putting an ad in the local paper for a private investor. Any ideas? Thanks for your time!
Chris Jesse