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May 25, 2012, 08:18:10 PM

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Real Estate Investing Forums  |  Real Estate Investing  |  Financing, Hard Money Lenders, Credit, Qualifying (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, christopher w, motivatedceo)  |  Topic: looking for a private leander « previous next »
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papawd
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« on: December 09, 2009, 06:08:00 PM »

I have a young man that has been on his job for 4 years and has a 724 middle score has 3 trade linds but he has not had them long enough he also lives with his parents (19) years old but focuses he wants to be a land lord so he is tring to get into his frist house we sre looking for a private lender (s) qualified for 55k and wants to put cash in his pocket the deal is set with a house and it has tennants it can be purchased for 30k so would appreciate any and all input/ideas.



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« Last Edit: December 09, 2009, 06:12:45 PM by Mdhaas » Report to moderator   Logged
JakeRodgers
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« Reply #1 on: December 09, 2009, 09:43:07 PM »

good luck finding someone to lend your $55K for a $30K house. probably not gonna happen. why not call a HML and just get the purchase money and forget the icing on the cake for now.
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papawd
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« Reply #2 on: December 10, 2009, 07:56:44 AM »

this part is new to me do u know of a hml who might be interested
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JakeRodgers
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« Reply #3 on: December 10, 2009, 06:37:15 PM »

provide some more info regarding the borrower and deal. wheres the house located? is it a rehab job? does the borrow have a job? you said his credit is good so thats a start... does he have a cosigner? is the prop occupied or vacant? does the borrow have money to put down or somewhere to get a DP from? etc etc
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Real Estate Investing Forums  |  Real Estate Investing  |  Financing, Hard Money Lenders, Credit, Qualifying (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, christopher w, motivatedceo)  |  Topic: looking for a private leander « previous next »
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