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 over 8 years ago,

User Stats

870
Posts
345
Votes
Frank S.
  • Specialist
  • Chicago, IL
345
Votes |
870
Posts

Finance Advice for $70K

Frank S.
  • Specialist
  • Chicago, IL
Posted

Hi there, 

Can you please provide some feedback on this situation.  Should I walk to the bank and ask for a personal loan, use prosper, lendingtree, 401K loan,  or reach out to a hard money lender?

Property #1 cash purchase, delayed financing will take about 45 days. 

Property #2  I can buy it if I pay cash, but I am short between $50K or even $70K if the bank counteroffers.  Unfortunately, I need the $50K before getting the cash out of property #1.  Property #2 is  a shortsale and they will foreclose soon.

Any tips are greatly appreciated,