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Updated about 7 years ago on . Most recent reply
Creative Financing Help
Hey everyone!
I'm looking for some advice in regards to a property I recently found. The property is listed for $137,000 and I would be purchasing it as an investment property. So, 30% or so down payment. I don't have the 30%. I have equity in my current home in the amount of about 20k and about 5k in cash available. How can I make this real happen? I was thinking hard money or possibly a HELOC to at least get the 30% accounted for.
Thoughts? Thanks!
Most Popular Reply
Is there anyone you know with a significant IRA/401k balance? Even if you don’t, you could potentially pool from several people’s IRA/401k accounts in the form of a loan to possible cover the money that you are missing. The best part about this is that the money/interest you pay back to them is tax free and reinvested, so their profits are making profits!