I am looking to invest in Houston, TX

[Michelle Fuller]

Hi folks, My name is Michelle Fuller and I am new to BP. I am finding this site very helpful. Currently I am looking to obtain a private loan in the Houston area for a house appraised at 190k. I have 50-70k to put down and have a contract with the seller for 170k with 10k back in closing. I originally thought going with a conventional loan was the best way, however it seems to have become more difficult since Jan 2014. I have already obtained insurance as well as inspections on the property and I am expected to close by March 5, 2014.

I'm wondering if it is even possible to obtain a private loan that quickly and how I would go about marketing for that. My plan is to pay back the loan within 12 months.

Thanks for all you help and input.

Michelle