Deal falling apart, now what?!

4 Replies

I've got a deal that I've been working on the past few months, and it's just NOT going to close.  But in the meantime, I took out $350k in equity from a different property I own (it was for down-payment on the failed deal).  What am I suppose to do with that money now?!  

I've never been in this situation before with this amount of money!  And I don't just want to pay off the loan, it was a pain to get.  Maybe fund a local deal in OC (Yorba Linda, Brea, Fullerton, etc.)?

Am I even in the right forum for this thread?

Find another deal that makes sense if possible. If it was a real aggravation to get the funds, I would definitely hold them and do some shopping for another property.

John Thedford, Real Estate Agent in FL (#BK3098153)
239-200-5600

Hey @Joe Homs hope all is well with yous. It's not a HELOC, I couldn't find a bank that would give a heloc on an investment property. I believe you pointed me to Antonio, he couldn't broker me a one, neither could my current broker, nor any bank that I talked to.

The deal was actually an ag-real estate primary production land with no residence.

@John Thedford that's my intent, but finding a deal is the real bugger, right!?

This post has been removed.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.