Updated almost 19 years ago on . Most recent reply
Best way to finance a deal
I'm working on an interesting deal that I want to know the best financing option for. I currently own a property that is financed through a family member. This family member needs to get out of the deal to free up some cash. This means that I need to re-finance the property some other way. The problem is that the house on the property does not have a proper foundation so financing it through a bank might not be possible. There is a current renter in place and the property is cash flowing. Does anyone have any suggestions on how to finance this property without worrying about the foundation issue? Aside from not having a "traditional foundation", this property is in very good shape. Is it possible to get a business loan for the property instead of a mortgage? Any help would be great. Thanks so much!