OfflineI found a property which i worth 170,000. The problem is i cant quilify for that amount. The owner owe's 25,000 on the property. I thought id offer him 120,000 now and 40,000 in a year with 10% interest. What are some ways that i came come up with the money to purchase can anyone help?
__________________
I have found a very nice property as well. I need help on were can I go to find finance options. I have read the book, and right now I am at the point to were I need to know were i can find someone to lend me the money.
Just a note: I have my company info lined up, meaning that I have a LLC, EIN, DUN number, but I am waiting to open a bank account because I want a certain amount of money to remain in the account.
I cannot find anyone .... !
AGriego, Listen to rhuges, he pretty much said everything that I was going to help you with. I am always glad when there are coaches on line. Good Luck...Jan
I'm new at this too but if you want to find out about it i read in the home page under most asked question's. There are links for reassignment. you don't need money or credit to do this. Everyone alway's say just keep reading your answer's are all right hear. Good luck and i hope this was some help.By the way i spend about 5 to7 hours a day reading on this sight,thanks to every one for all the help,and god bless.
I just joined and I haven't done a deal yet, but I am attending a local real estate investors club meeting next week. I hope to network and find some hard money lenders. I also found some on line (Google "hard money lenders"). I am requesting as much information as I can get about their lending criteria.
ltrunell
The property needs to be in my name that way i can sub-divide it. I can use that money for repairs and the 45k that i would owe him. The size of the lot can go for 150k. Also i couldnt find any hard money lenders that would work with me.
Check out some of these "social" lending sites:
Prosper.com - they require a FICO score of at least 520
Lending Club.com - they require a FICO of at least 640
VirginMoney.com
Zopa.com
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Here are several hard money web sites:
Hardmoney.com
Hardmoneylisting.com
Americancashflows.com
Cthardmoney.com
Keep in mind that some Hardmoney Lenders will lend against the ARV of a home,which might be of help in your purchase and/or repairs.
Tom
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
For those who have either 401K's and/or self-directed IRA's you can use these funds for your real estate investing, however, you should check with your accountant on how best to handle these transactions.
Tom
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125