I just put a townhome under contract, thinking that I could assign it.
But obviously I can’t. My credit isn’t enough to get a loan for the property, but there is money to be made on this flip.
FMV is about 107K.
The seller owes 102K
Short sale offer is 75K (the bank knows that the townhome next to it auctioned off for 75K last year) will probably counter with 85K.
I’ve got a few interested parties to sell it to for at least 100K at a double close.
Since I don’t have the credit, where can I turn to find help with financing in exchange for a portion of the profits?
Giddy