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Updated over 6 years ago,
Seller wants Cash, but I can only get conventional financing
Hello Biggerpocket Entrepreneurs,
Thanks for always responding to my messages and giving guidance. I really appreciate.
I have a little bit of a challenge. I was able to get a motivated seller deal, but the seller is basically looking for cash buyers only. The deal is a good deal to wholesale, but I am particularly interested in the house.
It's a duplex, which I plan to buy using FHA 203k financing. Is it possible to get short term private money/hard money financing to pay the owner of the house in cash and then secure the FHA loan within a month to pay off the hard money/private lender?
I am in the Dallas/FortWorth area. This is a great deal I do not want to pass on.
Thanks
Femi