Creative Financing Deal in Austin

[John Wright]

Looking for advice on a creative finance deal in Round Rock. Single family 4bd house in Round Rock that needs foundation work. I am told that foundation problems are common in this part of Austin. Seller would be open to creative financing since house needs foundation work.

Asking 300k

Foundation Repairs- $40k ( could be way less)

ARV- $385 to 400k

[Jason Wray]

If the appraisal deems it to be "Subject to" you will have to use a renovation loan/construction loan to repair and close. If not you can close and simply pull out a 2nd or opt to take out a personal loan and consolidate on the ARV at the 6th month mark.

Unless you buy it all cash you will need to wait at least 6 months title seasoning to refinance on the ARV.