The channel we originally were going with only takes the 1007 number - we tried to dispute the appraisal with supporting comps and the fact that the appraiser completely missed a bathroom but they wouldn't increase the 1007 amount.

So I started trying to get creative on how to create a win-win-win for all.Here’s how it went down:I got the sellers to agree to an asking price of $180k, a full $40k over what they originally wanted.In the offer, we included a seller credit of $34k.This strategy allowed me to cover the extra commission for both the buying and selling agents and ensure the seller got exactly the cash they wanted should they have sold it at 140k.With the seller credit, this reduced my total out-of-pocket expense to just $6k.I used a commercial DSCR loan product with a local bank.

Ward, et al. which changes the licensing requirements for parties who are the assignee of a home equity line of credit (“HELOC”).Crux is the state is saying Mortgage Lender License Required for Installment Loans Where Installment Loan is Secured by Residential Property even if you did not originate the loan.

@Dennis McNeelyThis was my original thought to be able to store boats and rv’s.

Question:  If you still go with the buyer that put the memorandum on the property, do they have to honor the price of the original contract that they put the memorandum on?

The 13-unit original motel, built in 1958, has been completely renovated to 2023/2024 standards and upgraded with all new electrical, plumbing, and internet structure throughout.

Originally posted by @Brian Bradley:@Jade S.

I am from Memphis originally and would be more than happy to help answer any questions you have about the Memphis area!

Also, the seller wants me to set the closing date on the contract to June 28th instead of our original closing date, which was August 17th, because she wants to receive the money in a timely manner to pay her back taxes.

Some hard money lenders may offer better leverage but the interest rate and origination fees will be higher.