Ways to finance a cash only deal in Texas

[Brian Winters]

Hello, I am from Cincinnati, OH and currently am house hacking in a duplex. However, that is about the extent of my real estate experience and it was relatively straightforward as far as financing, etc.... Im have been looking in the Houston, TX market where I plan to move in the very near future. I am looking for the opportunity to house hack or even a single family where I can maybe get some good appreciation. Ive come across some promising homes, but in the area I am looking a lot of the homes are currently sellers who want cash only offers. Just want to prepare for this scenario. I have a little cash saved up. Right now it is slightly over 10k, but I know most (if not all) hard money lenders want over 20% as well as will not give money for a primary residence. Does anyone know of any hard money lenders in Texas (or anywhere) that are more flexible or does anyone have other financing suggestions for cash only properties? Thanks

[Mark Sewell]

Originally posted by @Brian Winters:

Hello,

I am from Cincinnati, OH and currently am house hacking in a duplex. However, that is about the extent of my real estate experience and it was relatively straightforward as far as financing, etc.... Im have been looking in the Houston, TX market where I plan to move in the very near future. I am looking for the opportunity to house hack or even a single family where I can maybe get some good appreciation. Ive come across some promising homes, but in the area I am looking a lot of the homes are currently sellers who want cash only offers. Just want to prepare for this scenario.

I have a little cash saved up. Right now it is slightly over 10k, but I know most (if not all) hard money lenders want over 20% as well as will not give money for a primary residence. Does anyone know of any hard money lenders in Texas (or anywhere) that are more flexible or does anyone have other financing suggestions for cash only properties?

Thanks

What?  No I would say that is not accurate.  Depends how deep you can get a property.  In fact, you may just need to have reserves.  I'll pass along some HM lender contacts if you like.