Quote from @Account Closed:
Quote from @Shelby LeBlanc:
I have seen so many people talk about buying property with none of your own money. I found a fabulous foreclosure. I reached out to the lenders on this site. The best any of them can do is a loan with me bringing $50K to closing. I am coming up short on the $50K. It's keeping me up at night trying to figure out how to get the rest of the $50K
Any ideas and insight you can provide will be greatly appreciated!
If it's a foreclosure, the original owner has to agree to sell to you. The owner will need to get a payoff amount from the lender.
If it's REO, then the bank owns it and they will post it on the MLS when they are ready to sell and a real estate agent will be involved.
What stage is this one at?
What makes it a deal?
How much can you buy it for and how much can you sell it for?
It's a REO. It's listed on MLS with a realtor.
It's a deal due to the ARV being $450K and I am going to offer $175K (the realtor can not submit the offer without POF), will go $200K because it's a nice brick home on an acre. Very rare property S. of Ft Worth, TX. Rehab is $100K
