We are new in real estate investing. We made our first offer on a property in Las Vegas, NV for $46,500. It looks promising as we have submitted the EMD.
But we are now faced with a huge road block as they want cash for the property. We were banking on our home equity but unfortunately, we were told turned down today. We were only able to get $15,000 using my car's pink slip.
One option is an Investment Mortgage Loan, but it would take a long time. If our offer is accepted, we have to come up with the cash within 24 hours.
Any suggestions? Is there any lender out there that will process a loan quick?