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Updated about 8 years ago on . Most recent reply

User Stats

12
Posts
5
Votes
Alice Chodkowski
  • Investor
  • Charlotte, NC
5
Votes |
12
Posts

offer accepted on a duplex in Charlotte NC

Alice Chodkowski
  • Investor
  • Charlotte, NC
Posted

but I am in need of financing for 115k. I orginally had a partner hat was going to put up the cash but that fell apart. So I've spoken with a few lenders and they want min 15% down and 6 months in reserve rent in the bank, I can't get anymore money out of my IRA and I don't have the reserves or the 15% down. I only have 10k in cash. the rent from 1 unit will cover the loan if approved and after all expenses including a management company it will still net aprox $450-500 a month. Hopefully, someone can offer some advice and any lenders info that they have or used in Charlotte NC. Please help. I really don't want to lose this deal.

  • Alice Chodkowski
  • Most Popular Reply

    Account Closed
    • Full-Time Investor
    • Charlotte, NC
    1,562
    Votes |
    2,280
    Posts
    Account Closed
    • Full-Time Investor
    • Charlotte, NC
    Replied

    Are you interested in wholesaling it and making a few bucks?  If it's a good enough deal, that may be a better alternative than spreading yourself thin on this 1 deal.  There'll always be another deal around the corner

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