HELP, I CAN'T LOSE THIS DEAL! - Posted by Jim, Illinois


#1

Posted by Rick on December 05, 1998 at 24:28:24:

What City is the property located in?


#2

HELP, I CAN’T LOSE THIS DEAL! - Posted by Jim, Illinois

Posted by Jim, Illinois on December 05, 1998 at 24:06:30:

Alright, here it is…got a townhome ready for the taking at $43k, and it is worth $65k. The sellr wants me to put up $1k for earnest money…no problem.
The seller also wants PROOF of funds available to close, at acceptance of offer (Monday, and it is now Friday night…just got the offer back).
My problem…2 yr old BK, self employed, no money to put down (hardly any, anyway), and this is a sure positive cash flow, PLUS the $20k instant equity.
I have called, e-mailed, and phoned EVERY lender in the area, and out of area. Also went to “mortgage brokers” and cannot find a one to Help. Is this a good deal? I think it is, and I just need the funds FAST to close it.
Please send advice FAST.
I have had GREAT luck so far with these wise REI’s here, so PLEASE keep it up, and help me.
thanks in advance,
Jim

One last thing…I also looked for “private lenders” and cannot find any in my area. I have also called all the “clubs” in the area, and got no where. they all have credit, and don;t use or know about “Hard money lenders”.


#3

Re: HELP, I CAN’T LOSE THIS DEAL! - Posted by Tonya Brown

Posted by Tonya Brown on December 05, 1998 at 13:09:16:

tell the seller that you prefer to tie up as little money as possible and do a contract for 120 days to find hartd money financing Tyler Ghicks has a Hard Money loan directory that works pretty good. I f the
seller won’t bite then go on to the next deal.