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Updated over 4 years ago on . Most recent reply

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Darrek Smith
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Best financing strategies for a very very short term loan

Darrek Smith
Posted

Hey guys,

I have found what looks to me to be a decent deal. A condo for sale for $109,000. The bank owns it from I think a foreclosure. From what I can see all it needs is a toilet and one small piece of drywall installed to make it conventional loan worthy. Im also a licensed contractor. So I thought I would do what I have learned from the podcast and offer to fix theses two items before so I can get conventional financing. The bank said absolutely not.

So is a hard money loan for a month or two the best option here? Im looking for other options also if you can think of any.

Thanks! 

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