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Updated over 6 years ago on . Most recent reply

User Stats

41
Posts
13
Votes
Robert Reineri
  • Flipper/Rehabber
  • Cookeville, TN
13
Votes |
41
Posts

Hard/Private Money "Pre-Approval?"

Robert Reineri
  • Flipper/Rehabber
  • Cookeville, TN
Posted

I've bought and sold a number of homes in my life , and even flipped a couple but I've always used conventional financing.

Lately I've run across a couple properties on the MLSthat's say hard money or cash only , bring proof of financing .

As I understand it, hard or private money depends on the property/deal and not the borrower for approval. So is it possible to get some type of funding commitment when I don't yet know which property I'm interested in?

The reason I'm asking is because I'd like to get as fast a close as possible!

Thanks

Most Popular Reply

User Stats

8
Posts
6
Votes
Lee Hauenstein
  • Port Orchard, WA
6
Votes |
8
Posts
Lee Hauenstein
  • Port Orchard, WA
Replied

I’m definitely interested in perspective on this. This prevented a deal from happening. 

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