Help! I’m stuck and need some ideas
I’m an investor that focuses mainly on flips, but I’m in a situation where I don’t know what my options are. I submitted a bid on xome for a house that I will live in under the first look program, and the offer was accepted. The house is worth in the 180 range and I paid 110. I’ve already been inside the house and it’s structurally solid and looks good. My issue is I have another investment property that I’m using a chunk of my money on, leaving me with about 70k that I’d want to put in for this. I’d finance it no problem in a few weeks, but I’m just trying to think of any option for borrowing the 45k cash just to complete the transaction. Would they let me use a hard money lender and put it in their name even though it’ll be me living in it? I’m willing to pay good interest to make it work. Any other ideas?