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All Forum Posts by: Kathryn Carter

Kathryn Carter has started 2 posts and replied 8 times.

Originally posted by @Kyle H.:
Originally posted by @Kathryn Carter:

Thank you for your responses. Credit is an issue.

Thanks

Kathryn

Yes, this sounds like a great deal, but have you thought about building your credit first before real estate investing?  You will have many more options down the road if you have credit to fall back on...are you taking steps towards this?

Yes,  I  am working on rebuilding my credit but even that takes money and time.

Originally posted by @Michael Mies:

Partnering is likely your best option... What part of NC is the property located?

 Raeford, North Carolina

Originally posted by @Michael Mies:

Partnering is likely your best option... What part of NC is the property located?

Raeford, North Carolina

Thank you for your responses. Credit is an issue.

Thanks

Kathryn

I am located in Alexandria, VA and the property is in North Carolina.

Most hard money lenders are requesting down payments, which I do not have, but I believe I have a really good residential home in a great school district. I really want to hold on to this property, rehab and then flip. The estimated value is 115K and I am purchasing at 47K with very little work needed. Are there any hard money lenders with no down payments, no upfront fees that will loan on value only? Without credit am I limited to wholesaling only?? 

Thanks to anyone who responds

Kathryn

Thank You both for your responses. I did not sign the exclusive agreement and only submitted my hud papers to the agent. 

I admit I am new to buying properties, however the selling broker for Hud is requesting an exclusive buyer's agreement. I do not believe this is required to buy a Hud property that I have already won a bid on. I am refusing to sign this and wondering if that was a mistake. I only have 48 hours to get my paperwork in, and the first set of papers I get is an exclusive buyers agreement, Hud is paying both the listing broker and the selling broker as well. Is something wrong with this picture or is it me? Should I be required to sign an exclusive buyers agreement which in effect says if HUD do not pay, I will. And the agreement is till Jan. 31, 2015 and probably 30 days after that ending date, I will pay them if I buy another property. What do you suggest???