I agree that an alternative is to ask for an increase in the credit limits on your cards.

Paragraph 9 states: Buyer agrees that property cannot be sold or otherwise transferred within 30 days of closing; Or 90 days if transaction is approved under the Home Affordable Foreclosure Alternatives program (HAFA).You will need a transactional funder that will allow at least a 30 day holding period between the A-B and B-C closings.

(and expenses are pretty high in that business – fuel, equipment, insurance, etc.).

We both have great credit.We have been purchasing relatively low priced houses with cash, and now wonder wether we should "up" our price range for the sake of getting financing, or keep our strategy the same and look for more alternate forms of funding.

The phone started ringing and the first call was this:Two Family HouseSTYLE 2 FamilyMODEL ResidentialGrade: AverageStories: 2 StoriesOccupancy 2Exterior Wall 1 Aluminum SidngRoof Structure: Gable/HipRoof Cover AsphaltInterior Wall 1 Plastered/DrywInterior Flr 1 Fin WD/CarpetHeat Fuel Oil/GasHeat Type: FA/HW/STAC Type: NoneTotal Bedrooms: 06Total Bthrms: 2Total Half Baths: 0Total Rooms: 12Bath Style: AverageKitchen Style: AverageLiving Area 2,578 square feetReplacement Cost 222,986Year Built 1935Depreciation 30%Replacement Cost Less Depreciation 156,100BAS First Floor 1037 1037FAT Finished Attic 1008 504FOP Fin Open Porch 224 0FUS Finished Upper Story 1037 1037UBM Unfinished Basement 1037 0Total 4343 2578Current Assessed ValueTotal: 131,880Zestimate $137,500Owner says it needs roofing work done and the porch needs to be fixedThere are 2 tenants one is paying $900 a monththe other isn't paying anything but is a family member which a reason he has to sell not making much money.Owner owes property free and clear and is looking for $70k or best offer.Comps in the area are about 115kso 70% is 80,500 - 20k repairs - 10k my fee = 50,500Supposed to meet with him today, my partner set the meeting up before I could talk to him.What do you guys think?

I’m very happy with my current employment, but have set a goal of doing real estate full time when we can make the transition.Changing the topic a bit: My wife is super conservative and is hesitant to entertain the idea of alternative financing such as seller financing or hard money loans.

Hope my question is worthy of your attention.Seems the best alternatives for an overseas cash buyer for REI in US can be listed as:1. do seller financed2. rent and hold3. do some form of partnership with a local player4. do private lending5. do wholesaling (don't actually understand what that it all about)6. did I miss other options?

As an alternate perspective...The last two properties I've purchased have been held up for more than a month due to the fact that the seller (FNMA for one and GMAC for the other) hadn't yet filed the foreclosure deed at the time they signed a contract with me.

I would not consider this a holding cost:anticipated profit = $40K; $111 opportunity cost/day If you do want to include an opportunity cost number, it would be what any cash you have invested into the deal could be earning in an alternative deal.

Obtaing an instant income from cash flow is not as easy as some make it sound, don't be mislead.Picking up properties as the Optionee and selling them as a fix and flip will be quicker money, with 30K you might run 3 or 4 proeprties at the same time, if you can carry the load and if not much costly repair is needed..You can always regroup, circle on me at our alternate base and get a new plan order of battle.