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Updated almost 8 years ago on . Most recent reply

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13
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2
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Octavous Crosby
  • Investor
  • Eastpointe, MI
2
Votes |
13
Posts

Now What Do I Do I Got The Deal Under Contact But Not The $$$

Octavous Crosby
  • Investor
  • Eastpointe, MI
Posted

What's up family I have a little issue going on right now and hopefully I can get a little feed back and ideas, ok I found a nice 3/1 brick property he was asking 26k  but got hime down to 13k I put the earnest money down now I have 2 weeks to close but I don't no how I'm going to come up with 10-11k  

By  me just getting married at the beginning of this year we emptied out our savings down to 3k so now my issue is I'm needing help to find money for this deal 

Most Popular Reply

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891
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701
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Christopher Brainard
  • Rental Property Investor
  • Rockwall, TX
701
Votes |
891
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Christopher Brainard
  • Rental Property Investor
  • Rockwall, TX
Replied

@Octavous Crosby

In order to give any advice, it would be very useful to know how much the property was worth as-is, fixed up, and how much it was going to cost. How much of a discount that you received off the ask price is somewhat irrelevant and often misleading, as the house may or may not even be worth 13k. It would also help to know what you intend to do with the house, as if you're looking to flip it, the financing options may be different than a buy and hold.

-Christopher

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