I am looking for a private investor to finance a foreclosure home that myself and my husband would l

This home is on the market for $329,900, zillow.com has the value @ $543,000. It does need repairs, former owners did let it go, repairs we estimate to be about $50,000. (new roof, replace wood siding (rotten), garage doors, etc.). Our realitor has told us to put in a bid for $275,000 and try to get an extra $50,000 in the mortgage for repairs but the mortgage laws have changed so much in the last 6 months that is not possible so I was told to try to get a private investor who would get a better interest rate for his money than any bank would pay them and have them finance until we get the home in its best condition and than we would get a mortgage ourselves. Thank you

I am looking for a private investor to finance a foreclosure home that myself and my husband would like to buystudent loan

Disregard the value from zillow.com completely. Don%26#039;t listen to the realtor. Put in a bid for $150,000 tops. You have nothing to lose. Remember the realtor represents the seller, not you. The seller and the realtor are working as a team against you.

It%26#039;s going to cost a lot more to fix this place up than you think. If a bank owns it, try to strongarm the bank. Maybe $100,000 is a better offer. Are there any back taxes owed on it? Any other liens? How much is the lender in the hole for on this property? Did you go look up any mortgages on this property and find out what the mortgage balance owed is? You have to find out these things.

Unless you have a proven track record of turning around property like this a private investor is not going to touch it. Your best source for financing is the lender who currently owns the property. They are more motivated to grant financing to get the property off their books. It would be listed on their books as a %26#039;non-performing asset%26#039;, and will not look good on their annual report. When is their annual report due out? This is a motivator for them, so find out about it and use it.

I am looking for a private investor to finance a foreclosure home that myself and my husband would like to buy

loan

Check out http://www.prosper.com

Good luck.|||Okay -- first lesson: when %26quot;your%26quot; Realtor says you need a %26quot;private investor%26quot; what he/she is really telling you is to get a loan from friends and family.

Second lesson, if this Realtor really thought this home was an awesome can%26#039;t loose deal, he would have already snapped it up (they have all the contacts you are missing).

Third lesson, if you can%26#039;t qualify for the financing, you can%26#039;t afford this deal no matter how good it seems from the outside looking in. People who are successful in RE investing over the long term have deep pockets filled with cash. If you don%26#039;t have it to start with, you are asking trouble. Just drop it.

(Qualification to lesson 3: I am assuming you have gone to a bank or lending institution that specializes investor financing and/or rehab loans...and asked them if you qualify for any of their products -- not just a standard mortgage with a second)|||Holle lovely family.

I am Dr Robert Parker a financial manager and i grant debt consolidation loans,business loans,private loans,home refinancing loans and so much more at a low interest rate.My loan process are collateral free and repayment can be made either monthly or yearly.If you wish to obtain a loan from me,you can contact me via e-mail robertparkerloaninvestment@yahoo.co.uk

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