I'm a newbie so I wanted to get info on what is available. My plan is to set up backup financing for REOs. My original plan is double close with transactional funding.
If the buyer isn't quite ready to close, I want to be prepared with backup funds early. Are there loans available through private money that would cover purchase (including closing) costs & perhaps rehab, as long as loan is less than 65% of ARV? No credit check? Prepayment penalties?
L. Carter


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