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Updated almost 10 years ago,
5/2 on half acre, 2 hours north of San Francisco, looking for financing options
Hi Folks,
This is my first marketplace post, so please be forgiving :)
I'm looking for partner or financing options to close this deal. We have an accepted offer at 435k, and a few days left to secure funding. We were clear in our offer that we would need 5 days to show a viable purchase path.
This is a beautiful 2700 sqft old home on a huge lot in one of the nicest areas of Ukiah, CA. 2 hours north of SF. Projected rental income including small back unit would be $3300/mnth. ARV would be about 600k. I know these aren't very impressive numbers, but given the unique qualities of this property I'm confident it will have a lot of upside as a buy and hold or it could work as a flip.
We have 40k towards a down payment. Probably need another 40-50k to secure loan or hard money. We either need a partner who can help us qualify for a loan, or a lender who can help us put together a cash option.
My wife and I have excellent credit (750 range), steady W2 employment, and a few other properties under our belt.
Please PM me if you have ideas/suggestions/interest.
Thanks!