Need To locate Funding. Please Respond - Posted by Edward J. Daniel

Posted by Kelly Marianno on September 01, 2003 at 20:31:10:

I presume you are not planning to live in the house. You have to be a little creative in your attempt to get that deal done. What you need to do is have an investor with their own financing in place to buy that deal from you once it has been setup and signed (i.e. Flip the property). Another option is to use a hard money lender to fund about 70% of the deal, then get the seller to carry back the 30%… Tell the seller you need a 60 day moratorium on payments. In that time, you will have time to have sold the property to a retail buyer. Depending on where you live, however, it may take a while to sell a property in that price range. Check out for the financing. They advertised on another site as having 100% funding even for less than perfect credit.

Need To locate Funding. Please Respond - Posted by Edward J. Daniel

Posted by Edward J. Daniel on September 01, 2003 at 16:44:06:

Hello Everyone,
I have the opportunity to purchase a Single Family Home in Dutchess County, New York. The man who owns the home is three months behind in mortgage and is eager to get out of the deal. The house is in very good condition and is in a nice neighborhood. The house is currently valued at $430,000 (verified by comps) and he will be willing to walk away for $340,000. This deal is too good to walk away from but I have poor credit and little verifieable income.

I am looking for possible sources of financing this deal quickly. I would appreciate any sources, ideas or offers that you might have.

Edward Daniel