Need Help/Advice -Ed - Posted by Friend

Posted by Michael on October 04, 2001 at 12:37:55:

Ed is right. Furthermore, you are living in the property. Is it really an investment or home? Is this a multi unit? You may be able to get a home improvement loan on the property, but that will depend on credit, income, and other factors. Or home equity if the property is really your home (this depends on your state).

Need Help/Advice -Ed - Posted by Friend

Posted by Friend on October 03, 2001 at 10:15:07:

I am a recent college graduate with a baby on the way. My problem is, I need some cash to fix up this investment property I have. I’ve been living in here for a little over three years now. The problem is- my fiance and i are moving in together and I need some money to fix up the property so I can sell it or lease it out.
My question is – how should I go about getting some cash based on the property. The house is a single family home(which is owner financed), no additional mortgages, It was appraised at $35,000 before fixup, and i owe 13,000 on it. How could I go about getting some money to do some things with. Advice would be greatly appreciated.

Re: Need Help/Advice -Ed - Posted by Ed Garcia

Posted by Ed Garcia on October 04, 2001 at 11:20:39:


I’m afraid we need more info such as your credit, income etc. I can’t understand how you’ve lived in the property for 3 years and have waited until now to fix the property.

You say the appraised value is 35K you owe 13k, but you don’t tell us how much money you need to fix it up or you think you need?

Sorry Friend not enough info?..

Ed Garcia