Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Classifieds
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago on . Most recent reply

User Stats

467
Posts
57
Votes
Devon Garbus
  • Real Estate Agent
  • Tampa, FL
57
Votes |
467
Posts

Investor or Hard Money needed in Tampa- PLANT HIGH SCHOOL

Devon Garbus
  • Real Estate Agent
  • Tampa, FL
Posted

The below property is a listing I just took.

http://www.century21.com/property/4410-gray-st-w-tampa-fl-33609-C2125848955

I'd like to live in this property with my family. I can't get a mortgage because my credit is a little too low, at 595. 18 months ago I had a 720 score and then I switched banks and moved and didn't manage to transfer my student loans to the new bank or get mail forwarded. 5 months before they called me asking for money and my score is in the tank.

I'd be willing to pay 7% interest with 5% down payment-coming from my commission as a 'hard money' loan. I'd refinance in 6-12months. This would be my primary residence.

Alternatively if you wanted you could purchase the home, rent it back to me at $1600/month and give me a 'purchase option' at $195+closing costs after my credit is repaired I would be willing to do that. Rent payments would not reduce the purchase price.

I can pay off/down my credit cards in the next two months and my credit should repair naturally from that to 640 over the next 3months so I've been told.

Note-the seller knows I'm reaching out to investors/hard money to try to buy it myself and doesn't mind. Nothing cagey being done here and I"m still showing to buyers/buyer agents.

Offering

Most Popular Reply

User Stats

1,299
Posts
136
Votes
Sean Richway
  • Lender
  • Chevy Chase, MD
136
Votes |
1,299
Posts
Sean Richway
  • Lender
  • Chevy Chase, MD
Replied

@Devon Garbus  If you source any buyers that are looking for financing feel free to have them reach out to me. We can offer 90% of purchase and 100% of rehab. We are a direct lender.

  • Sean Richway
business profile image
Infinity Capital Finance
5.0 stars
4 Reviews

Loading replies...