Updated about 11 years ago on . Most recent reply
Looking for advice on how to acquire this property
Hi, I figured that I would turn here since so far everywhere has been a dead end.
We're approved to purchase this property with a 203k loan due to it needing rehabs. but the seller (its REO) will only accept a cash offer on the house. They have refused every single reasonable offer we have put in on the property. The asking price is 140k
and it's in central indiana, the house will have instant equity, We need a way to secure private funding for the home. we have 3 decent incomes, and are already approved for our own financing. does anyone know how I can make this happen? I would love to find a private lender that can help, We have a decent amount ofcash on hand, but some of the private companies want 40+ % We could really use this home as our jumping point to rent out our 2 other properties. (we're combining households)
This house is large enough for all of us, meets our handicap requirements, and is really an Ideal home for us. So we don't want to give up on it. any and all help apriciated. it would be a short transaction period since we're already approved for the correct financing.