Thre is a possibility of changing my start-up strategy. I have been tooling up to become a wholeseller in order to raise cash and then buy properties. However, it seems one of my contacts is a wholeseller who has rehabbed properties that are move-in ready with 40% equity still available in the property. He also has hard money lenders that will offer time to refinance under more favorable conditions.
Next, is for this person to show me available properties, determine if it can create cashflow and how long, and type of terms, before a bank will refinance after taking posession.
In addition to finding specifics, I'm asking questions to anybody and everybody about this opportunity. I don't want to be blindsided by an unknown. The only concern thus far is that most of the properties are located in the city (lower income districts).
All suggestions welcome!
..."Oh that you would bless me and enlarge my border, and that your hand might be with me, and that you would keep me from hurt and harm"
1 Chronicles 4.10
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