$25,000 Purchase Price Too Low For a Lender?

[James G.]

Hi BP. I found a property that is worth $55,000 for a purchase price of $25,000. I would rather not go to a bank, but most lenders (hard money for example) have a minimum purchase price of around $75,000.

Is it possible to get financing for a property so cheap? Where can I get this kind of financing? 

(I have the $5,000 down payment, just need the financing)

[Jay Hinrichs]

this is were the credit card Scheme probably is appropriate.. there are lenders that will do this but as a non owner occ and if its your first property and you have no management expeirnce probably a tough one.