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Jean-Frank Dorvil
  • Professional
  • Ruther Glen, VA
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What can i do to fund a deal when my financing has fallen through

Jean-Frank Dorvil
  • Professional
  • Ruther Glen, VA
Posted Nov 1 2016, 09:54

Hey Everyone,

My Wife and i are newbies at the real estate game and have flipped 1 house in the NJ market and also wanted to buy and hold in the sub 30k market of Baltimore.

Unfortunately we trusted the wrong people to get us funded on a 3 property deal that fell through and now have all our money tied up in litigation trying to get it back.

We are currently working our last deal. A single family house in the Baltimore area (21215) asking was 150K but we got it for 115K with about 50K worth of reno needing to be done. total investment of $165k. the ARV is $280k. the broker who was shopping our funding fell through on this as well and I'm trying everything to get it funded. I'm looking for someone to partner with who knows the Baltimore market and who knows that this would be a good investment for some extra cash flow. So we can fund and renovate the property. We are going to hold the property and refi out in 8 to 12 months. the deal will generate a cash flow $200.00 per month for 12 months and $10,000.00 at refi time please.

Any help or advise will be greatly appreciated. We are scheduled to close on Nov 10th.
Thank You

Jean-Frank Dorvil

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