Financing and Credit

Hello my real estate friends.

I have a transaction in progress and have come up short on cash to complete it. I have 3 stand up commercial tanning booths that I have been either working on selling or borrowing against. Ebay is saturated at present with tanning equipment, and I have tried craigslist. Any advise would be helpful. I only need the money for less than 30 days, but a sell of the equipment would be nice too. Any advice would be welcome.

Andrew Dean

Hey Guys,

So i finally getting my first investment property, and then found the house next door is for sale too.

I want to buy it, but i used about 80% my money to buy the first one. I wanted to know if you guys could suggest a good place that will loan me money not so much based on credit.

It is only a low amount of 5,000 and I have 1,000 in the banking about while making 3,500 a month. I just looking for a short term loan.

Any ideas or suggestions would be great, by the way I am living in Oregon but investing in the mid-west if that helps any.

David

Can anyone tell me if you use a transactional funding company to double close with your A buyer, and C buyer decides not to close at the last minute, do you still owe the transactional funding company and therefore loose money on the deal? Thanks, Tammy

I heard they only take the amount the home is worth, nothing less. Is there a way around this, or are investors stuck with their standards & regulations?

So, I was curious what would qualify someone as a first time homebuyer under the HUD loans. I was especially interested in finding out if I was still eligible even if my wife bought a property. So I did a little research, and here is what I found on the HUD government website:

First-Time Homebuyers
Chapter 3
Miscellaneous Policies
Page 3-02

One of FHA’s highest priorities is to assist homebuyers with the purchase of their first home.

FHA tracks the number of first-time buyers assisted by our programs. Consequently, it is very important that the information is entered accurately in FHA Connection.

I am sure this has been brought up before, but I am just being honest when I say I do not have any time to be searching. Our agent said we must make an offer tonight, and I have to go back to work in less than hour. Situation is this: Me, my mother,and husband are trying to make an offer on an investment property for a fix and flip. Neither of us has enough money for the cash offer to the bank (REO property) but my grandmother does. She has offered to fund the purchase of the property. However due to legal reasons, she cannot purchase it under her name. Therefore the money must be gifted to one of all of us. A friend that works with REO properties at a local bank told us that you cannot be gifted such a large sum of money without repercussions for the gift-giver. Is this true?

We are Canadian looking for private lenders that will lend to Canadians. We have tried most banks and have been told since 9-11 it is alot harder for Canadians to get re-finacing in the US. Can somebody please help us with any suggestions.

Thankyou in advance

How can I structure the deal where my investor guarantees the refinance loan for a property I acquire? Can I give them a monthly fee in exchange for being a guarantor on a refinance loan?

I'm supposed to refinance properties that still cash flow after the refinance payment but I need a guarantor since I don't have a long income history, even though my credit score is good.

Hi
this is my first deal
i have a buyer who wants to buy in a certain zip code.
the buyer will pay 50% cash and 50% financing
will i still take this buyer to my mortgage broker??
or get this buye approved at the bank?
I apreciate

I hope this is not confusing and someone can respond to my questions...I am stuck in knowing how to make an offer on an REO home without the Proof of Funds letter. Now, if I go to a private lender, I have understood from some seminars, that it is best to create a portfolio of the home that I would want to invest in, that includes all the due diligence. So, my question is, if I plan to make many offers on homes, as Matt said, the 25/1, then
what is the best way for me to ask a private lender for a proof of funds letter if I don't have one exact home in which an offer has been accepted? I need the proof of funds letters to make the offers.
what would be the best approximate amount to ask for?