GAP OR BRIDGE FUNDING NEEDED! HAVE SIX ESCROW! LA County

[Brian Collins]

Any Information on GAP FUNDS? Any input would be highly appreciated!  

We have everything else you need in real estate.  

What do you do when you have too many deals?

Buyers are liars, so wholesaling is not an option. 

Raising capital for EMD and GAP amount needed to close loan is what I need to know? Thoughts?

Seller carry is not an option.

I need the real meat and potatoes 

[Jay Hinrichs]

This is quite a hot topic these days with the deal of day how to get into deals with none of your own money.. I get approached on this pretty much daily..

And I have my first two going now... But caveat.

I would only do them under the following conditions.

1. rehabber is personally known to me and is very very experinced

2. First lender is known to me and I can take over if needed.

3. for now only deals I can drive to incase I have to take over .

I don't know your capacity but on the face of your post it looks like to me you have tied up property you know you can't hard money loan but need the down payment and interest reserves or payments and you will use non of your own money.

So the only value proposition you bring is you found the deal and will marshal it but you have no skin in the game other than time.. that is the hurdle you need to over come.

Personally since I am the person your looking for I would not do this for someone who is knew.

So to that end I would be looking for a equity partner FIRST.. get some deals and experience then you can go fishing for gap.. you can show them your done deals and your success's. and you will have some capital to put in even if its nominal.

so this Gap theme is just soup de jour for I have no money and trying to do no money down 100% leveraged deals.