investment home inquirey

[Wanda Johnson]

Hi i found an investment home that the purchase price will be too low for the bank (which wants to lend at least 65K)  any suggestion how one gets around purchasing homes for less then 60k? 

[Benjamin Aaker]

Hi Wanda. I'm sorry to hear that the investment isn't working out well. Hard money usually needs to be paid back more quickly than 2 years (date of your original post). Did you refinance? What are the terms on your current loan? Have you done any rehab on the property? 60k doesn't buy much these days. What do you think you could sell it for? What could it rent out for? It would seem like you should get a tenant in there right away. Do you have a primary residence? Could you take out a HELOC on it to help finance repairs. Could you sell it and move into your investment property, using the sale price to pay off the hard money lender? 
A lot of questions and no answers (yet). This is a great place to get help.