Posted by chris on January 15, 2000 at 20:52:40:
A hard money lender might be a possibility for you. Try contacting a mortgage broker who deals with investors. Look in the paper for money to lend ads. Make sure they know what you will be doing (quick flip,etc.).
When you submit your offer you might want to include a polaroid of the nasty parts of the house to put in the bank’s mind that this thing is a dump and that they should be happy you will take it off their hands.
With your price estimates base it on a quick sales price below retail. Also figure in six months holding costs as well as realtor’s commission,advertising and anything else that comes to mind.