Brick Wall, Need Advice!

I primarily invest in the luxury home market. I have a couple of leads that are listed preforeclosures @ 55-60% FMV. Lenders that I have been dealing with are not cooperating with a cash out option due to the listing price.... Does anybody know of any lenders (not hard money) that would fund a deal like this...Please help time is of the essence!!

Comments(3)

  • samedwin24th February, 2005

    Go to LOCAL REIA meeting and ask around.

  • TORGLLC24th February, 2005

    Thanks...Need to join as soon as possible. Any info now will get me started so to speak...Need to make X amount of dollars before the next meeting which will be the 2nd week of March. I do plan on joining though, thanks for the feed back.

  • TORGLLC24th February, 2005

    Thanks a lot Wigster!

    I just got off the phone with one of your recommended contacts and he was very helpful! So helpful that I told him I would use him as my closing attorney! He also told me when I fax over the purchase agreement on future deals that I need to also fax over a document called "Request For Title Commitment".

    I explained to him I was new at this (but not sales), and just needed a little guidance.

    I learned some vital lessons today and picked-up a new member of my team! One step closer to a deal!

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