Looked at my first deal today. My offer for the single family house is $30K. I am trying to finance it but having trouble finding lenders willing to do it for that low. The ones that do have closing costs that are in the $5K range. It will put me strapped for cash for a month or two but is it worth just paying in cash to avoid the costs? Plus may be a selling incentive for the owner?
Do you have a local community bank you could work with? None of my houses I purchase are over the $35K mark and my local bank finances everything for me.
Hi Samantha, I did. I just reached out to some more credit unions that are right outside of my county and they said they will see what they can do so here is hoping for the best.