Short term, private funding on $30,000
Seeking advice on the best route to secure $30,000 for my first investment opportunity. I have $7,000 saved, enough for a DP on a traditional mortgage, but the sale price is just to small to mortgage.
My father has offered me an undervalued rental property with amazing potential. It’s a 5 bedroom, 2 baths, and spans across 1900 sq ft. The current market value is $104k, but my father, who owns the property, is willing to sell it to me for what he bought it for, just $25k.
Here's the catch: I'm struggling to find a conventional loan for less than $50k. I'm looking for suggestions for alternative approaches to secure the $25,000.
Your insights and recommendations would be greatly appreciated! Lenders, let's seize this opportunity together. 💼💰