Updated over 6 years ago on . Most recent reply
Funding for a rehab
I am only working a w2 job for 8 months . I know I cant get a traditional loan because I need 2 years of proven income . So I decided to use a hml ( abl lenders ) . Found a good deal from buy price to resale 150k difference . Buy price 450k sell price 610k . In a great area ( princeton junction new jersey) ( close to all trains and great schools ) I have only 20k of my own money looking for other I investors to partner up with to help me complete the deal . Need to put down 20% for the lender .
Orginally I was looking for cheap houses 100k so i can do it by myself. But talking to the real estate agent she i sted that this is the best deal i can do and i should try to get investors to help me . So that's where I'm at now .
Most Popular Reply
@David Canecchio Why do you think you can buy at $450k and sell at $610k, in a short time period? I'm assuming you're fixing it up? If so, you should post all the numbers in order to generate more interest in the post.