Looking for creative ideas

[Karen Ness]

We are currently trying to buy a property in North Dakota which will be an investment property for us, but my mother-in-law will be living there. Our problem is, we have identified a property to buy but we are right in the middle of construction on our new home and our lender has told us not to finance anything else until construction is completed. We have about 2-3 months until our home will be done but I don't believe this home in North Dakota will still be available if we wait. So, looking for creative ideas to finance the new home purchase in North Dakota. 

Open to all ideas.

[Tim Delaney]

Could you gift the down payment to your mother in law so she can buy it and then transfer title to you when your house is done? This may border on mortgage fraud though if she gets a conventional loan knowing she intends to just hand you the title.

What about a private lender that won’t make you sign personally?

Or ask for closing in 4-6 months when your house is done. You could also ask for early occupancy so you can begin to collect rent and take all the holding expenses off their plate.