Posted by Steve-Atl on June 06, 2000 at 21:07:14:
Make it simple. Offer cash and close in 30 days. The seller will recieve cash at closing whether you arrange for hard money loan or just flip it to another investor. Use a partner approval escape clause to buy a few days to have a hard money lender look at the deal.
Its really easy to get hard money if its a good deal. You can get 65% of the after repaired value on just about any house. The key is understanding all the costs of the deal including acquisition, repair, holding, and selling. If you want to do the deal with none of your own money, you need to buy it cheap enough that you can pay these other costs within the 65% loan.
Let me know if you want a hard money loan.