I recently stumble upon a homeowner that bought a house through a program in order to gain some passive income. Instead of bringing in cash the program and the house have been nothing but a big head ache for the guy. The house is not even in liveable condition and is priced at 85k, in a neighborhood where the rest of the houses are priced at 50k-65k. Turns out that the program was a scam, and the scammer got away with a profit of an estimation around 65k+. I spoke w/him (H.O.) and informed him that i could be of some assitants and recommended we do a short sale. I have already started in building the paper work for him and even started posting flyers for the house informing those that are interested, that the house is being rehabbed. My biggest challenge is i dont really knnow how to find a private lendr who would help with the purchase and rehabb cost. So what i’m trying to get at is am i going about this in the right direction and where can i find a lender???
Question: Are you going to make money? His headache might be yours.
Well i’m no professional but i believe that theirs a profit of at least $20,000. In my opinon if thats the price i get for helping out a close friend then thats more then enough. Ofcourse it has to be done the correct way. Any info on finding a pri-lender??? :help