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?

@Daniel Siapin was it a HELOC loan? Call me with details on the deal and what to do next.

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.

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!?

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