OfflineHello,
I have 2 properties in IN I'm trying to close by 3/7. I was working on getting the money from a no season refi that went south, so I'm restarting the process.
I have a full 14 page prospectus on the properties and my company. I can only do a refi on these properties, because I am buying them too low for banks to do a loan on them. The rules that are in place to protect consumers only allow a certain % of the loan amount for fees, and doing a loan for these small amounts can not be done due to those rules. I have a duplex under contract for $18K and a fourplex for $36K. These are 70% and 60% ARV and currently cashflow $600/month between them. They require about $3-4K in repairs which includes separating meters. Cash flow goes up the $950/month after they are made section 8 compliant.
I can send the prospectus and numbers to anyone who would be interested in earning some extra money. I do full disclosures and am upfront about everything as well as spelling out worst case scenarios. I have to close on these BY MARCH 7TH.
I will also assign both for $5K. The seller must sell them together as he's moving out of the country on March 8th.
If anyone can help, please PM me. Thank you DG Family!
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