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Updated over 10 years ago,

User Stats

174
Posts
27
Votes
Drew Denham
  • Grand Rapids, MI
27
Votes |
174
Posts

Where can I find the money to buy this house?

Drew Denham
  • Grand Rapids, MI
Posted
So I found a foreclosure in my hometown - 30 days on the market - asking price 65k - Arv 100-110 rents about 950 per month but I don't have the down payment for it. My sister will loan me 35k cash but I doubt that will do it. What's different about this house is that it's on a neighbor city's MLS. This is the way I bought My first house and I was essentially bidding against myself. IDE like to make a low ball bid but I don't A) have the down payment for 55-65k (Fannie doesn't let you take a A "gift" from a family member on an invesemt and B) in don't think 35k will work as of yet. 401k loan isn't an option because I recently changed companies and rolled everything within Edward jones. Any ideas of where I could get cash ?

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