Posted by nate baker on September 15, 2004 at 14:47:30:
Based on those #'s you should be able to get hard $ for the deal. The rates aren’t cheap (15% + 3-5 pts) but the interest and points can be deferred until you sell the property. Contact your local RE investor’s association to get a list of hard $ lenders in your area.
Funding the deal. - Posted by Marcos
Posted by Marcos on September 15, 2004 at 13:56:40:
I need $37k to purchase and repair 2bd/ 1ba house in the Albuquerque area. House next door with exact floorplan is being offerd at $78k (i think it would sell @ $70k, based on local comps). My goal is to make repairs costing about $7 - 9k and flip ASAP for $60k. The purchase price is $26k. If anyone could guide me in the right direction for funding it would be greatly appreciated.
Thanks, Marcos