I recently was told that I was preapprovedl for a home loan for an investment property. I was also told that I need like 6,000 for closings. I currently own my home and have a little equity. How can I avoid having to apply for a home equity loan and still have the money for closing. Any suggestions.
Howdy Getzcash:
I put an ad in the ad section of this web site and got the cash I needed. So what if I am paying 18 % interest. I turned as little as $500 of my own money into a $100,000 profit. Now my trouble is how to keep from paying taxes. You have friends who may want to be partners or even loan you the funds. Tax refunds are in the mail. A great time to get money. Tell everyone you meet what you do and ask if they know of folks with money that want to get involved in deals. Never stop. I am facing loss of $1000 right now on two properties I have under contract. I thought they were no brainers and they are but it is hard to convenience investors to let go of the money or borrow it. I have already gotten two extensions from the sellers and still do not have a commitment. At the last minute I found a guy in Ten that may want to work with me. I gave up for a day or two and quit trying. Somewhere in the back of my mind I knew I would find a way to do the deal and it is going to happen some how. Perhaps the sub-conscience mind is powerful as all the books I have read say it is and just to let it do the work thru it’s powers. I do not have the answer but I am always trying to do more than I think I can and have done more than I thought I could have. Cash is always in short supply here too. If it was too easy I would not want to be doing it. I can always deliver pizza or some boring job to survive. Keep on trucking and you will get your deals done too. If not this one you will find another.
LOL
Two Words,
PRIVATE LENDERS.
If you have more questions just reply.
Beaver124