Ok, I am about to give up on trying to rehab foreclosures in Michigan.
How difficult is it to flip properties in a different state than that which you reside? Outside of the obvious, not living there. Right now, for financing, I can’t find any other options outside of hard money, and apparently hard money doesn’t like Michigan. Hell, I don’t like Michigan, right now. Back on point- anyody have suggestions for flipping foreclosures out of state?
It seems most HML’s are lending out west and down south.
Don’t give up on Michigan just yet. there are lots of options for purchasing forclosures in Michigan.
!. heloc
2. refi another property
3. business line of credit
4. There are HML s in Michigan, look on the list for them here
5. Move the mortgage to another property.
6. Many operate out of cash flow.
7. Ask for 0 down from bank once /week till sold.
Be creative thats what makes this job fun.
redhawk
I just heard of an investor who bought a tax lein in Mississippi for $600 and sold it in two weeks for about $15k. (Still sold it way under market value!)