I Need Some Advice-please
Today I ran into a great deal, a duplex, a 3br. house and a 1br. house-together for 315k. That's about 30-50k below market value. The best loan I can find is 90% financing, I only have 10k to use towards this deal and the seller is using a 1031 exchange= no carry back. Any real creative ideas would be greatly appreciated!
Thank you!
Get it signed up under contract and wholesale the deal? Find a partner and split the profits? Move into the unit yourself and get a better loan? I'm sure there are a dozen other things out there that you could do, these are just a couple that jump into my mind.
Ryan J. Schnabel