Updated about 7 years ago on . Most recent reply
Newbie first deal, Money HELP
I've been learning, studying, and running numbers for some time. A MF, turnkey unit jumped out at me and now I'm trying to figure out how to finance the deal.
The owner is deceased and the property has been listed since early January 2019 for 25k, 9-16k under market value. Most hard money lenders wont touch such a low amount, my credit is on the fringe of getting traditional loans, and the "seller" is an elderly person who doesn't understand the owner financing concept.
Most Popular Reply
@Melinda Jackson, being listed since early January, $25k might actually be higher than market value!
"Learning, studying, and running numbers" is a great start, but, so is saving money!
Hoping that Sellers will allow themselves be the bank is all good and well, but, you might ask 100+ Sellers to do do that, and still get none to accept. Welcome to BP. All the best...