Need help w/ financing deal–FAST - Posted by Sarah
Posted by Sarah on March 13, 2002 at 15:29:49:
We have a contract on a rehab home and have extended the closing. The extension goes until next Monday and we still don’t know how we are going to finance the deal. All of the hard $ lenders are looking at credit and you have to pay $ up front. We need someone to finance the deal and then give them all of the money owed at the end when we sell. The courses we have used state that private lenders will use their self directed IRA $ to lend and then you can pay them the interest and money owed at the end. We need to be hooked up w/ someone to help us do this deal. The profits will be $20-25K if we can close on it. Anyone out there know of someone to help?? We belong to the REIA club and asked people there. Everyone we talked to uses hard $ lenders that require some up front $ and payments along the way. We aren’t in a situation to afford that right now. We live in the Dayton, OH area. Thanks for any help you may be able to give!