Updated almost 10 years ago on . Most recent reply
Hustling for PM - Need more ideas - Severely Frustrated
"and I didn't use ANY of my own money"; "It was all OPM"
OK. I am now about to have to walk away from my third deal. And this is a really good one! ARV is there. Contractor experienced in rehabs and on board - more a partner than a hired hand. Low offer accepted on REO. Awful house in decent neighborhood here in So Cal.
I have a commitment from a hard money lender that leaves me $65000 short. And specifically short on the excessive $21000 EMD due tomorrow. I can stall a little bit but Fannie Mae doesn't care about my problems. Lol.
I am making calls. I am pitching @ REI meetings. I am calling and emailing people I know who lend. I am at my wits end. I am finding this very frustrating and although I have no intention of quitting I want my first serious deal under my belt. And I obviously need the money.
It is too late to wholesale and Fannie Mae makes that difficult anyway.
Ideas? Direction?