100% 568 FICO

I am looking at putting a contract on a house tomorrow.

FMV-176k
Purchase Price-85k
Rehab-20k

If anyone is interested in this type I am in North Carolina. I am will to share in the profits if anyone is willing to lend the money. Last property appraisal as is where is 130k.

Jim

Comments(5)

  • nebulousd19th January, 2004

    What experience do you have with rehabbing?

    Also, you may think about bringing in a partner as another option.

  • killenjw19th January, 2004

    This will be my first rehab project. It is a very simple one, however. There aren't many people here in my area that would be willing to be a partner and the ones that are I haven't been able to find!
    As of today I was told about a consulting firm that handles every aspect of the deal, to include financing, title, ect... They charge $1800 dollars upfront but they all but guaranty appoval. I am curious if anyone has ever used a consulting company like this.

    Jim

  • nebulousd19th January, 2004

    I think your first step this figuring out if you want a partner or a hard money lender. Once you figure that out, actively pursue whom ever with a written plan. Show them you've done your homework and you should have no problem finding someone.

  • patricc6819th January, 2004

    depending on WHEN you can turn this property, it seems this would be prime for a HML..the points involved and the interest on a HML compared to a 50/50 equity split private money investor should make the decision for ya..good luck either way..regards-pat

  • tinman175519th January, 2004

    I

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