Investor went Ghost on me: Now what?

4 Replies

Hey Family. So I got a deal on this Single family converted into a duplex. Me and another investor were supposed to go in on it together. I am supposed to put up 10% of the ARV and he funds the other 65% which covers alot of the rehab and have the other 25% for the refinance. So I know him and met him for multiple times now and the house is supposed to close this friday. I can still buy the house(distressed) cash but unsure about the path to get funding for the construction portion. Should I close first then get a construction loan? <———If so should I put it in my name for easier bank funding or put in LLC? OORR Should I get a hard money lender to buy and fund the deal? Appreciate any help and funding references as well. Thanks

If the numbers work, I'd seek out hard money.  You may be better off than when you had your partner.

HML should be the ticket you need. Honestly as @Greg Scott said this guy ghosting you is a favor assuming it is indeed a good deal.