Creative Opportunity 100k Loan?

[Luke Schumacher]

Hey all,

My investments in the past have been with traditional mortgages. I have an opportunity for a creative finance deal where basically I take over an existing mortgage payment and give the seller the 100K they need to move on etc. Massive upside here. BUT I do not have 100k liquid. I have access to 30k from a HELOC on another property (not sure if its a good idea to use that or not) but if I do I still am 70k short. Open to suggestions.

I know about hard money but thats not a good long term strategy

No immediate access to Private money in my inner circle

Any one know of ways to get a loan for a property based off the deal instead of debt to income (mine is not good as I own a few traditional properties) and this property already has a mortgage on it so not looking to just get a mortgage either

Any insight is great thanks!!

Luke 

[Sanat Bhandari]

@Luke Schumacher Attend your local REIA meetups and connect with some local investors who would be willing to partner up with you on this deal

Since you are willing to put some money in the deal, that only strengthens the case for an investor who doesn't know you to want to partner up with you

Outside of that, another option is to get hard money to fund the deal and then refinance in a year or so with a commercial/DSCR note to pay the hard money and the current first mortgage off