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Updated over 5 years ago on . Most recent reply

Account Closed's profile image
Account Closed's profile image
Account Closed
  • Rental Property Investor
  • from Valley Stream NY
  • Member since Jun 3, 2019
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Account Closed's profile image
Account Closed's profile image
Account Closed
  • Rental Property Investor
  • from Valley Stream NY
  • Member since Jun 3, 2019
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Account Closed
  • Rental Property Investor
  • Valley Stream NY
10
Votes |
51
Posts
General Real Estate Investing

Stuck and I need help

Account Closed
  • Rental Property Investor
  • Valley Stream NY
Posted

Hey BP, so I found a deal and now I need help with funding it so I was looking into hard money lender but now I need 20-30% of my own liquid cash. If I had the 20-30% I wouldn’t need a hard money lender so where do I got from here now? Please help

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Alexander Felice's profile image
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Alexander Felice
  • Guy with Great Hair
  • from Austin, TX
  • Member since Apr 16, 2013
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Alexander Felice's profile image
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Alexander Felice
  • Guy with Great Hair
  • from Austin, TX
  • Member since Apr 16, 2013
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Alexander Felice
  • Guy with Great Hair
  • Austin, TX
4,475
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Alexander Felice
  • Guy with Great Hair
  • Austin, TX
Replied

Is it such a bad idea to wait to buy something when you have more capital? I mean they are only asking you to fund the transaction costs as it is. 

what if the deal goes over budget?

what if it sells for less than you want?

You've given yourself zero outs here, the solution is not more debt it's more equity. imo 

  • Alexander Felice
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  • Podcast Guest on Show #301
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