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Updated over 10 years ago on . Most recent reply

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Michael Whitener
  • Temple, TX
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Getting funded prior to contract?

Michael Whitener
  • Temple, TX
Posted

Just wondering if it is possible to get funding before having a house under contact?

I have been basically handed a flip deal from a friend that only does buy and hold. He has told me that I need to get my finacing lined up before he will show me the property. It has the potential to give me 50-75k profit. 

Any ideas?

Thanks

Mike

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,510
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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

If your friend believes you when you tell him you javeprivate money, fine. If not, your private lender needs to give your omen type of preapproval/commitment letter....max amount of finds,certain LTV, etc.

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