Financing options for $50k Property
Hey BP,
I am looking at a single family home with a listing price of $54,000.00. I have the finances capable of providing a traditional 20% down payment, however, as I have learned it is very difficult to find financing for a property that is that low in value. I am not currently capable of paying cash for the property.
I estimate the ARV to be $70,000.00. If I could pay "cash" for the property and refinance after using delayed financing to get some of my money back, however, I would be leaving a bit more money in the deal than originally planned.
Looking for tips / suggestions.