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Updated over 11 years ago, 09/05/2013
I'm trying to get money in these 3 ways. Can you direct me to the right info?
Here are some of my financing thoughts/ideas.
I feel that I might be able to get small unsecured loans. $25,000-$50,000 or so. If so, can I just take that money, get with a HML or even a conventional lender or home path and work on 1-2 houses at a time with that money...with only the one investor involved so as to not involve the sec?
I also feel that I may be able to get money secured by the specific property I will be buying. Perhaps up to $200,000. Can you please point me in the direction of where I can go to read up on how to structure such deals with my private personally known to me lender and what documents I'd want, how to get the deals written up, etc.
I feel that I also might be able to get a family member to give me a 2nd mortgage on my home. I have about $100,000 in equity and I am not eligible for a conventional heloc at this time. I could then use that money on a deal without using funds from another investor. Can you direct me to information on how to structure this deal and get this deal written up?
These are some of the things I am thinking about/working on. What are your thoughts? What experience and knowledge can you add?