Posted by ed on May 03, 2006 at 17:41:06:
Hello, we have found a deal that has 5 tracts of land with over 40 acres total and over 2000 ft of prime riverfront. We are paying 2.5 mil for all and have offers for 3 of the smallest tracts for 2.8mil leaving us with the main property of 32 acres and 500 ft of riverfront as well as a 3000 sf house free and clear. Thats the good part. But - we will still be broke as we are doing this deal as a simultaneous closing and the positive balance goes to broker fees and misc fees and we have done it with no money down and no credit. Any ideas as to how to free up some cash for a few repairs and projects as well as for future investing? (such as tax liens, deeds, fixer uppers, etc). My husband is aghast at the thought of a mortgage because I have the deal worked that there will be none on it now, but I want to continue to invest and find deals.