Updated almost 8 years ago on . Most recent reply
$25,000 Purchase Price Too Low For a Lender?
Hi BP. I found a property that is worth $55,000 for a purchase price of $25,000. I would rather not go to a bank, but most lenders (hard money for example) have a minimum purchase price of around $75,000.
Is it possible to get financing for a property so cheap? Where can I get this kind of financing?
(I have the $5,000 down payment, just need the financing)
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Jay Hinrichs
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Jay Hinrichs
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this is were the credit card Scheme probably is appropriate.. there are lenders that will do this but as a non owner occ and if its your first property and you have no management expeirnce probably a tough one.
- Jay Hinrichs
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