OfflineWe are looking for short term financing 65k for two homes in rural utah. we have a bank that will do our refi...we just need to purchase for cash. any help/advice is really appreciated.thx!!
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Help! Need short term financing ..Rural Utah
Posted on: Sat, 07/30/2011 - 15:57
wwww.insiderscash.com
It's been awhile since I was on their site, but I think they will provide flash-cash for up to three months. I'll check it out and let you know for sure.
Those who kill time murder opportunity.
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Insider's Cash. Under the 'pricing' tab.
Those who kill time murder opportunity.
"Beloved, I wish above all things that thou mayest prosper and be in health, even as thy soul prospers." III John 2
"To get up each morning with the Resolve To Be Happy is to set our own conditions to the events of the day. To do this is to condition circumstances instead of being conditioned by them." Ralph Waldo Emerson
Why won't the bank loan you the money for the purchase, but for the refinance?
Is this an auction? If so, maybe you can use some transactional funding, if you have the loan in place... otherwise you will need a PML; a hard money loan will cost you, and you will need to show that the properties have plenty of equity, plus you will have to put down anywhere from 30% to 40% because they don't lend you 100% of the price of the property...
What do you intend to do with the properties? are you buying to hold and rent? or are you fixing and flipping?
What are the FMV and ARV values of the properties? how much do they need in rehab?
Wishing you success,
Valerie
Valerie
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Thanks for the info...will check it out!
We are purchasing four small homes from a family that is liquidating their rentals. We are purchasing two with cash and are looking for short term financing for the other two. The local bank will refi based on ARV so we will recoup our initial investment plus cash. The homes are 30k and 35k with ARV of 70K each. Rehab is 5K. We will rent and hold with positive CF. Our problem is that we are looking for short term financing and since it is a relatively small amt(per HM lender) and such a short time that it is difficult to find hard money.
Pm me, give me more info
Contact me through PM or the advisory line. I can help or I have someone(s) that can. I have hard money / private contacts in Utah that I have used that I feel you will find a suitable business relationship. Where is rural Utah? Are you talking...Manti? Beaver - now that one would be rural? Or possibly one of those towns you blink and miss the town as you drive the I15? This may make a little difference who I can suggest to you. Places like Tooele, price and St. George should be no problem.
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
If you keep all four in a package purchase and use the cash as the down payment for all you will be in a better financing position,with banks and PML.Since you will be showing a larger personal investment upfront.
http://kendrickpropertymanagement.com/
http://rochesterapartmentrentals.com/?page_id=10
You can use http://www.dohardmoney.com/. They lend in several counties in Utah. It is a good place to use if you can do a quick refinance.
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