OfflineI 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 .... !
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Well the place is a Duplex. and all I need is ~20000 to get the property. It is in livable condition but I want to do some upgrades to it, and I need to get the quotes to do that, but i am guessing that it will not take more than 50000 (and that is pretty high, but worse case).
But...
I have an idea of what I would like to do with the property and here it is:
I want to purchase the property, then do a refinance and pull the equity out of the property, use the equity to purchase another duplex, pull the equity out of that one and fix up both of the properties. the reason that i will be buying two duplexes is because thay are going cheap in st louis, mo and were I am buying is really being built up.
I want to buy the first two properties under my name and put them on my credit report so that will raise my personal credit score. I then want to buy two more doing the same process under my business name to build business credit.
also i read about the lease option, but for these deals i do not know if they will help. I would like to learn more about doing them though.