Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 3 years ago,

User Stats

17
Posts
7
Votes
Eli Yachini
  • Los Angeles, Ca
7
Votes |
17
Posts

Funding question advice

Eli Yachini
  • Los Angeles, Ca
Posted

My friend signed a lease to own contract 3 years ago with a purchase price of 2.7 million dollars when the house was likely worth 2.4-2.5. The actual chance they would want to purchase the house were slim to none at the time due to it being high priced.

However, due to covid, the houses current value is comfortably 3.1 million, they are trying to assess how to purchase the home possibly to flip (no work is needed). No is there any real value add that I could imagine to the property as it is immaculate, can't be split up due to being in an HOA, unless there is something I'm not thinking of.

it is unlikely they can qualify alone or probably wouldn't have reached out for advice.

The contract is not assignable, the home is in beverlywood, Ca. 

I was recommending they find someone to cosign for the loan and sell it immediately after. Aside from that or private money. Anything else that anyone would suggest as a possible solution besides private money, I imagine hard money will be too expensive due to points.

Loading replies...