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Private Lending & Conventional Mortgage Advice

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Matt Henning
  • Real Estate Investor
  • Boise, ID
2
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11
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One million in Equity 57%LTV I cant get this deal done.

Matt Henning
  • Real Estate Investor
  • Boise, ID
Posted Aug 3 2008, 10:47

I am on my 10th buyer and cannot get this deal done. I am told there is money available out there for strong borrowers. We had had 2 appraisals done, came in at $2.4m. I (seller) is looking to net 1.4m. The Buyers wants some cash out. Current Buyer is a 720 fico and 4-5m in liquid assets. We cannot find an 80% loan on 2.4m sales price, with 20 % down. I think it must be really bad out there and I cannot get my brain around it, or I keep getting buyers that cannot perform. This last buyer has me puzzled. Any ideas. I am loosing my mind.
:beer: I think if I have to look at hard money for this guy, the world will come to an end soon?????
I may be to close to this deal and cannot see it right in front of me?????

Matt

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