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Updated over 2 years ago, 08/26/2022
Creative options for down payment on HUD purchase
Hi. I was able to get a HUD rehab under contract recently/ Fortunately, or unfortunately, two of our other deals went through at the same time. We are in a dilemma when it comes to the down payment since all of these are going to be closing around the same time. I had originally posted about GAP funding, but I am realizing that although there are companies who do it, they are hard to find apparently. So, now I am here looking for creative alternatives so we can get all three deals to the closing table. A heloc is not an option. What other options are there for personal, or LLC funding we can take to the table? Thank you
Numbers (in case they matter)
Purchase: 210k
rehab: 60k
ARV: 404k
down payment and closing: about 50k