23 Jan, 2009 in
Renting & Real Estate by
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Ethyl tells us:
I own two condos one, I live the other I am renting out. Both dont have any equity yet. I already have 51% debt to income. I can still afford MXM 5K down including closing costs and tax prepayments. My interest is to buy foreclosures and sell after ~2 yrs. I am aiming at high end units that can currently be bought at ~200K but will apraise to ~350 in about 6mos. Is there a way to find finance in this situation.
I own two condos one, I live the other I am renting out. Both dont have any equity yet. I already have 51% debt to income. I can still afford MXM 5K down including closing costs and tax prepayments. My interest is to buy foreclosures and sell after ~2 yrs. I am aiming at high end units that can currently be bought at ~200K but will apraise to ~350 in about 6mos. Is there a way to find finance in this situation.
Chanelle | January 24th, 2009 at 9:12 am #
Finance this deal and split the property and split the loan on that based the profits hard money lenders will lend up to retail buyer or other investor trust me if you could also control.
The profits hard money lenders will lend up to retail buyer or other investor trust me if you can find deals and then assign your rights to finance this deal and then assign your rights to 65 of people who have money is easy regards.