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Updated almost 3 years ago on . Most recent reply

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115
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Marcus Geiser
  • Investor
  • Pittsburgh, PA
43
Votes |
115
Posts

Frustrated: Find Deals and the money is the easy part, NOT.

Marcus Geiser
  • Investor
  • Pittsburgh, PA
Posted

It seems every lender I have tried to deal with conventional wont work credit is not good enough. Working on it... Close.

I own my home. No Mortgage.

I own a Duplex that needs $40K renovation for $90,000 ARV Renting at $750 per side $1500 month. Aliquippa, repository property.

Good income, $5000 working capital, but the renovation will stall self funding to the tune of a couple grand a month. 

I also have another property under contract for $55K, $30K Reno, $125 ARV in a great school district, perfect flip or turn key for buy and hold. New Roof.

I also have a commitment to purchase a home on the same street that is nicest on the street, maybe cosmetic updates, well maintained. 

I could really use some direction, currently working on projects in Aliquippa, PA.

Most Popular Reply

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18,769
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Chris Seveney
  • Investor
  • Virginia
16,231
Votes |
18,769
Posts
Chris Seveney
  • Investor
  • Virginia
ModeratorReplied

@Marcus Geiser

Have you bought on private lenders and possibly give up some equity?

Why is your credit poor? If it's because you have defaulted on payments in the past it will make it much more difficult to get financing especially on NOO property.

  • Chris Seveney
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7e investments
5.0 stars
16 Reviews

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