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Updated about 8 years ago on . Most recent reply

Azah Che's profile image
Azah Che's profile image
Azah Che
  • from Silver Spring, Maryland
  • Member since Mar 28, 2017
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Azah Che's profile image
Azah Che's profile image
Azah Che
  • from Silver Spring, Maryland
  • Member since Mar 28, 2017
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Azah Che
  • Silver Spring, MD
1
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33
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Private Lending & Conventional Mortgage Advice

How do I fix this? Help Please Help!!

Azah Che
  • Silver Spring, MD
Posted
Hi everyone,I need help and I don't really know what to do. I have to close on Tuesday and i need 12k for closing and 50k for rehab and I have reached out to a private lender to lend me the entire amount and now I am worried the loan will not be approved because I don't yet have title to the property. I'm a newbie and I don't know what the outcome will be. There is a loan balance on this house for 135k and the ARV is 235k. I have no money and need to do this flip to get a shot at financial freedom. Any advise BP Family? Thanks.
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Ellis San Jose's profile image
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Ellis San Jose
  • Rental Property Investor
  • from Westlake Village, CA
  • Member since May 21, 2010
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Ellis San Jose's profile image
Ellis San Jose's profile image
Ellis San Jose
  • Rental Property Investor
  • from Westlake Village, CA
  • Member since May 21, 2010
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Ellis San Jose
  • Rental Property Investor
  • Westlake Village, CA
776
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Ellis San Jose
  • Rental Property Investor
  • Westlake Village, CA
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What was your plan to close this in the first place with no money?  I would wholesale the contract to a local investor ASAP.  

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