Hello DG Family
I am new and exicted about REI. After reading BARM & about a 3rd. through the new bk. I started thinking a little different, I notice a house that was empty right around the corner from me. While making offers on other houses which were rejected I found out that the empty house was bank owned/HUD owned and I could make an offer, so I did.
My offer was accepted and less than the asking price. I was thrilled, I needed a small down payment and a funds letter which I got from Coastal Funding. It worked, this is great, I went to my bank where I have good credit and good standing asked for a loan, they gave me a flat out NO, NO WAY.I was shocked.
So here's my situation I NEED FUNDING.
The comps are 145000 -150000
75% LTV on 145000= 108750
For a total of 108750
If anyone has any ideals on where to get funding please let me know.