Too Stingy?

[Account Closed]

Are private lenders just too stingy these days? I have a house under contract, but I cannot get anyone to help me finance the deal. I have the credit, just not the cash. The bank is all set to give me a loan, I just need the 20% down.

For the curious, the house is under contract for 67,000. I need to put about 13,000 into the property. ARV is between 120,000-125,000. Avg comps in the area are 123,000.

I pitched to a ton of investors who didn't seem to think the deal was worth it, but the numbers don't lie. Used the 70% rule to get my offer price. Even if I was in a pinch and had to sell it for 110,000, that's still nearly $30k, minus some closing costs.

Maybe I am missing something. Or maybe people just want the profits for themselves and aren't interested in helping the REI community.

Any thoughts?