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Updated about 7 years ago on . Most recent reply

User Stats

24
Posts
9
Votes
Trent Parker
  • Flipper/Rehabber
  • Federal Way, WA
9
Votes |
24
Posts

Creative financing options?

Trent Parker
  • Flipper/Rehabber
  • Federal Way, WA
Posted
If this were you, you would........ Assumptions: house under contract Buyers credit: not great Buyer has equity in primary residence. Purchase price: $365k Downpayment: 10% Rehab: $50k ARV: $600-$620k Buyer has a HML willing to do 10% down on this contract. Friends and family circle have been tapped and have $16k towards the downpayment. The house is in an A neighborhood and average DOM is about 1 day. What are the next steps you would take? Is there places who will lend to cover the DP? What other options are there to get DP covered? Looking to soak up great ideas. Thanks in advance BP members!

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