Hey y'all. I'm working on a deal and have owner financing in the 2nd position for 1/3 purchase. I need money for the other 2/3 of the purchase and for rehab. Hard money lenders want skin in the game and proof of it. I don't have the skin in the game that they're looking for. I'm trying to do this with little to no money out of my pocket.
If you want to sell real estate without skin in the game, become a broker.
Thanks for responding, Alexander. I am not looking to sell, I want to buy it.
The only way I know to do this is either know the hml or buy at such a discount the lender can’t lose. I’ve done it before with a property years ago by cold calling every hml in NYC and being told no more times than you can count. However, I purchased the building for less than half it’s appraised value.