getting frustrated. I have a deal in Western NY for 3 properties that have amazing cash flow potential. All three properties are fully rented and I can buy all three for 117,900.
The issue now is funding. Most banks because of the current crunch are not doing loans below 100k...so I am having ridiculous difficulty trying to finance an individual property (55K or less)
This seems like a no brainer for hard money lenders and even bad credit mortgage. I will try and get creative with the seller but I have the sneaking suspicion he is an investor too.
I have the 20 percent down. I am going to ask for a 3%-6% seller credit.
Help, I need someone to fund this for/with me...any ideas?????????