All Forum Posts by: Season Price

Hi. I'm closing soon on a property.  We decided to use Plastiq for down payment. They declined the wire transfer, but with no clear explanation other than to look at the TOS. I don't know if it's that my attorney doesn't have "title" in his business name or what. I'm just trying to get an idea of what other people have run into using them. It's been a real pain not to be able to speak to an actual person when I am sending thousands of dollars at a time. 

Thank you, everyone!! I think I have narrowed down some really good options.

Hi. I was able to get a HUD rehab under contract recently/ Fortunately, or unfortunately, two of our other deals went through at the same time. We are in a dilemma when it comes to the down payment since all of these are going to be closing around the same time. I had originally posted about GAP funding, but I am realizing that although there are companies who do it, they are hard to find apparently. So, now I am here looking for creative alternatives so we can get all three deals to the closing table. A heloc is not an option. What other options are there for personal, or LLC funding we can take to the table? Thank you

Numbers (in case they matter)

Purchase: 210k

rehab: 60k

ARV: 404k

down payment and closing: about 50k

Hi. I am looking for gap funding options. I have searched the forums and found several suggestions,  as well as mentions that there are companies who do it, but no actual companies have been mentioned. We find ourselves in the fortunate/unfortunate situation of having all of our current projects starting at the same time. That wasn't the plan. So, now we are looking for down-payment gap funding to free up our cash over the 3 projects. I would prefer to use an actual company because I'm not familiar with setting up private lending from anyone outside of my family. 

Thank you in advance for any suggestions. 

Hi. I am looking at a foreclosure that has been vacant for a long time. The bank listed is US Bank, but the servicer is Gregory Funding. The only numbers I have been able to find for them lead me to their customer service line for accounts. Does anyone have a direct contact number for them? Thank you.

Hi. I am looking for a contractor for a duplex rehab in the Indianapolis area. I would be doing this as a long distance project. Thank you. 

Thank you, @Brenden Mitchum.

Hi. I found a cash flowing, multi family property that I don't want to pass on. The owner is willing to finance 80%, 4% interest rate amortized over 30, with a balloon. I originally had a family member interested in partnering for the down payment, but they have backed out. What are some of my options for the 20%? I am willing to give equity, or 6-8% on a loan. I am in a position where I am debt free, have very little living expenses, and own two homes. However, both of my homes are in non-desirable places, so I can't get a heloc. I am self employed, so a traditional bank is not an option. Are there any private lenders who would consider my situation?  

Hi. I have an off market, 12 unit I am looking at purchasing. The seller will carry 35%. Asking price is 300k. Gross income was 67k last year. Profit was 40k. All but two units are rented out right now.

I don't have the 65% to purchase the property nor do I have someone to partner with.

My question is: Is there a way to structure this where I can benefit from the seller being willing to carry a percentage, and then I get a loan to cover the rest? I'm not sure how to put something like this together.

@Brad Hayes-Raugh Sin City REIA is another one, but the meetings have been put on hold. They have an FB page also.