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Updated about 6 years ago,
Ideas For Finding Funding
I acquired a 3 bed 2 bath single family home out of state for $1. Has been vacant for 3+ years. I’ve discovered selling it is not the best idea right now due to a lien from 10+ years ago. So I got contractors in the house, estimated repairs and I’m having trouble finding funding for the rehab cost due to...
1. House is in such bad condition, does not quailfy for a traditional loan
2. The loan amount needed is too small for 10+ fix and flip loans I’ve inquired about
3. Since I’m a resident in a different state than the house location, the in state smaller companies can’t legally loan to me.
Any suggestions or ideas would greatly be appreciated.... Thank You!