Need Another Way - Posted by GerryH VA

Posted by Rafiq on March 16, 2002 at 12:14:07:

Hi Gerry,

Just going through some of the old posts and I see that no one was available that day.

There is an easier way and you don’t have to put that much into any deal. Another personal thought would be to get away from mobil homes and into SFH’s. I believe your headaches will go away should you decide to go that route.

Also, with the right properties, you won’t have to worry about the seller carrying anything because it’s not needed.

As for more cash, have you looked into finding a hard money lender in your area? The money you get from them can be added to what you already have access to to pay cash up front. This will almost guarantee you get your price every time.

What do you think?


Need Another Way - Posted by GerryH VA

Posted by GerryH VA on February 07, 2002 at 11:56:35:

I am currently buying properties using my home equity line in my house and an unsecured credit line. I am usually putting 20% down on every property. I am slowing finding out that I am running out of cash even though both lines totalled over 75k. I am trying to get buyers to hold a second on it but am having trouble. Most of the properties are mobile homes on land so refinancing has become a bit of a problem as well. Any ideas to get cash to buy more properties? Any approaches I should be using? Any help would be great. Thanks.