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Updated about 9 years ago on . Most recent reply

User Stats

48
Posts
23
Votes
Chelsea Ziss
  • Investor
  • Maumee, OH
23
Votes |
48
Posts

A great deal, but in the middle of a rehab elsewhere - in Ohio

Chelsea Ziss
  • Investor
  • Maumee, OH
Posted

There is a house I've got a line on that is a great deal for my real estate strategy, but most of my cash is tied up in a rehab for a different house! We're going to try to broach the idea of seller financing, but I'm not sure if they'll go for it.

The strategy thus far is to buy small, distressed SFHs in nice neighborhoods, fix 'em up, rent, refinance, repeat. (Your basic BRRRR method.) Right now we're only on the first R!

I'm not sure what the next steps are to find a lender. I'm nervous to approach hard money lenders because of the short term (we'd being hoping for at least a 12 month loan.) The house will not conventionally finance currently, due to needing rehabbed.

It's a steal of a deal, and I'm chomping at the bit - but where do I go next? 

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