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Updated almost 16 years ago,
Need financing for a 35K house
I would like to buy house for 35K that has a renter in the property for 650 a month. I will be wholesaling it out but I want to work on the plan G if i get stuck buying the property. I was wondering as of right now i can qualify for conventional mortgage, how can i buy this property without partners or OPM b/c i would be up against the wall and no one would buy it from me at a wholesale price.
I hear getting a mortgage less than 50K is very difficult. Is this true? Anyone have any thoughts?