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Updated over 5 years ago,
Where to get $30k for a $130k deal?? Suggestions please
Hello all! I have been in RE for the past 16 years. I've been working during that time with almost perfect credit scores so getting loans to purchase rental properties was a breeze. Now I am not working (my husband still works) but have two properties that are just about to close but the loan did not go through because I am no longer working. I have 100k of 130k. The propertirs already have tenanta and have been managed by my realtor. They are happily living there and no plans to move out soon. They are both positive cash flowing properties. The sellet just put in a new furnace.
Hard money lenders cannot lend me the money as the 65k x 2 properties is too low of value. Family and friends will not lend that to me ( as they are not into RE and dont think of this as an investment) What other creative ways to get the 30k? Help!! Need to close in 2 weeks. Thanks in advance!