Financing and Credit

Hello DG Family,
In reading Dean's books, one way to generate funds was to get a HELOC. Use it for your deals and when you make money off that deal, pay back your HELOC. I thought this was a great ideal, use the equity on your home for your down payments etc.

So I started calling around looking for a HELOC. I have about 30,000 to 40,000 of equity. I started with my lender, Bank of America. They made the requirements so difficult that you could not get a HELOC. Then they said that they are not doing these types of loans/line of credit anymore.

I am making an offer on a duplex in South Lake Tahoe for 135k. The asking price is 197k. It is bank owned. I was told by my broker that I would have to put down 30% which sounds absurd. Does anyone know of a investor friendly broker in Northern California?

Thanks

Ok I'm ready to start but I am stuck what is the best approach with Owner Finance...do you go for a house that is already listed that the owner will finance or do you find a property and submit your offer in an owner finance style. Now mind you I have very little money and really bad credit. But I have to move forward.

Please give a newbie some feedback/direction with this subject.

Hi everyone, Newbi.
Iam new to real estate investing. Iam in the process of cleaning up my credit and starting over.

Do you have any suggestions on how to purchase property with bad credit and no down payment?

Thanks in advance!!

We own a building with 4 apartments and a cafe. It is fully rented with a waiting list and the cafe is profitable. It is currently financed through the past owner. We would like to refinance and pay off our credit card debt as well as finish weatherizing the building...but can't find a lender for this kind of building under 100K. HELP!

We own a building with 4 apartments and a cafe. It is fully rented with a waiting list and the cafe is profitable. It is currently financed through the past owner. We would like to refinance and pay off our credit card debt as well as finish weatherizing the building...but can't find a lender for this kind of building under 100K. HELP!

We own a building with 4 apartments and a cafe. It is fully rented with a waiting list and the cafe is profitable. It is currently financed through the past owner. We would like to refinance and pay off our credit card debt as well as finish weatherizing the building...but can't find a lender for this kind of building under 100K. HELP!

I have had my own business for 4 years now, it is a corporation. It has been making 3 to 5 k like clock work (Accounting/bookkeeping bizz) the thing runs itself my gals are great. My question is, I am running my new Realestate investing company through it and it just hit me that I might be able to go to a small town bank and get a small business loan or line of credit. Will a bank lend money for realestate flips and if so how much could I expect and how big of hoops will I be jumping thru?

I KNOW this is late but the june 30 infomercial offer, when buying dean's books you get the how to find funding now report; is there a way to still get this report or does someone have it that could send to me.

YES I HAVE BOUGHT THE BOOKS AND JUST ORDERED THE CONVERSATIONS VIDEO MONTHLY , BUT AS I HAVE JUST GOTTEN ADDICTED TO THIS SITE, (WHILE ON VACATION) SORRY SWEETHEART ; WE ARE HAVING A GREAT TIME HERE IN PERU BUT WHEN I SAW THIS VIDEO I KNEW THAT I COULD REALLY USE ANY INFO IN THIS AREA

PLEASE HELP DG FAMILY

even though i have absolutly no credit, i realized i really need to establish some. does anyone know of ways to do that? but you should also no ive applied for credit cards and cant get one becuase i dont have a job at the moment..