I'm a real estate broker looking for $20,000 to help a couple buy another home. They have 5 mobile homes all attached to land that are paid off and they have title to them with all rented. Homes with land valued at $120,000. The money needed is for a down payment towards new purchase. High fico scores and good employment to pay back.
Properties are located in Central Texas Killeen/Temple area.
I want nothing in return for this transaction. Contact me thru BP.
Try @Darryl Dahlen here at BiggerPockets.
Would they consider just selling one since they only need $20K?
Maybe if can close in 10-15 days.
I could take this scenario to a bank in Texas that I have a relationship with, but there is no way to close that fast. You'd be hard pressed to get hard money that fast.
No Darryl, that would only if seller would want to sell. The 20K is not needed for 30-35 days if they could use homes as collateral.
The Bigger Picture is to purchase a home, getting 30 year mortgage and using the 20k as their down payment. The buyers bought a HUD home (mobile and paid cash) in 11/2011 as owner occupied, and the home they want now is HUD Home (not a mobile), HUD will not let you to buy another HUD home within 2 years if its owner occupied. So they have to submit as investor purchase.