Need Advice On How To Finance Short Term

Here is the deal. I found a waterfront home in my county that needs a lot of work(is liveable but not by much). I did some research and found that the property is listed way below value. So I made low ball offer and it was countered I recountered and it was accepted. My thinking on this property is that I would re-hab and turn for a big payday. All I would like to know is if I can ask one of these hard money lenders to fund the whole deal re-hab included. I know the place is worth 100k more than contract price. One other thing to ask is that the way to go or should I investigate others?
Thanks in advance to any and all.

Comments(1)

  • TheShortSalePro3rd November, 2003

    If you don't have access to conventional finance, then HML may be the way to go. It'll be expensive, but, if you are undercapitalized, a reasonable cost of doing business.

    Another possibility is to simply cash out. Arrange for an investor to purchase your interest via an assignment of contract, or, participate in a double closing.

    Jorge? Interested?

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