GREEDY , GREEDY , GREEDY

[Jason A.]

Thank you for at least taking the time to read this. Been working on this property for 90 days now. It has been in foreclosure.  The attorneys are ready to close on this property. Everything is in order. I have someone that will give me the funds. The Thing is, I don't like is greedy people. Lender started out at 12%. Now 3 days before we close, he wants 18%. I know there is nothing that can be done,  Property appraised out for $1,300.000.00. Purchased it for $680,000.00. I put down $130,000.00. The final amount needed at closing is $565,271.80.  Thanks again. Just needed to blow off some steam.     

[Shannon K.]

Goodness, what area in Buffalo are you buying in that you're in a $1.3 mil price range?  There's a very limited amount of neighborhoods in this area at that range that I can think of. I'm flipping in the southtowns right now :)

Are you using a local investor? I also had a similar experience with a local guy who agreed to 18% and hiked it up to 24% when we went to sign everything. And then also asked me to fund the entire rehab myself too. Completely not what we agreed upon! I'm wondering if its the same guy....