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Updated over 3 years ago,
Financing Out Market Deal
BiggerPockets Community,
Hello, my name is Daniel Bloomfield and I am new to the real estate investment community. I live in the Cincinnati, Ohio / Northern Kentucky area and have just sold my first live and flip property in which I am hoping to us the profits to fund my next deal. Over the last year I developed a list of potential off market properties and have began reaching out to owners with some success. My issue is the funds that I have acquired from the sell of my house (Approx. 80k) does not provide the necessary funds to purchase a house with an all cash offer and fund the renovation cost all on my own dime. My goal is to purchase a house with the use of different forms of financing and fund my renovations with my personal funds if possible. My question is what types of financing have you found to be affected and/or appealing to off market home owners? I could always bring an off market deal to my realtor, though what other avenues have you found to be best when attempting to purchase off market deals with financing options other than an all cash offer?
Thanks in advance for any and all feedback.
Daniel Bloomfield