Is There Anyone on This Site Who Offers Private Money For Deals

Make contact here and lets see what you need

I have found a quadplex near the local college. The current cash flow income after taxes and insurance is $2075. The listing price is $129,900. I can even get more positive cash flow out of it than that because I can rent out rooms in each appartment to the local college students, due to the fact that the local campuses are full and the new year is about to start and parents are looking for houses now. Because my income is self employed I cannot get a conventional loan. I was trying to talk the owner into owner financing the property but so far he's not going for it. He says he can be flexible but he doesn't want to be stupid. He owns it free and clear. It's in a good neighborhood, and rents are always full. He also has another property that he wants to sell that he was going to do a short sale on for $59,900. His loan on the property is an interst only line of credit with a monthly payment of $240, and I tried to talk him into a subject to but he said it was interesting but not for him. That one would be a good investment too because it can potentially bring in 1500 or more. I have to check the number of bedrooms. Both properties are well taken care of and need no work.

I also found another deal. I found a lady who was selling her house for $45,000 i asked her what she would be willing to accept as a cash offer. She answered $35,000. My plan on this one was have a partner with good credit get a loan for 55k - 65k. I would buy from her at 35k and sell to my partner for 55k - 65k , by doing a back to back closing, and then turn around and subject to the property so I would have the property and be responsible for all payments, while my partner that helps gets the difference between my purchase price and thiers minus any costs. So potentially the partner will get $15,000 - $30,000 cash. It could be more as I don't know what exact closing costs would be. I would be willing to do this on all three properties as well, if anyone has good credit to pull it off. Basicalyy the partner would get a boatload of money for thier good name. The monthly payments on two of the properties won't be that much and the quadplex would still be less than $700 a month. If there isn't anyone who can qualify to purchase the properties from me, than I was thinking I could get private funding to buy the properties, and then just pay back the private funding.

Hello there - I just send you a PM rbailey.