fiancing.4 units - Posted by methodman

Posted by Robert on February 14, 2005 at 18:30:54:

Send me an email and we can discuss this. You might not have to pay all cash, even though your fico is low, some lenders consider the fact that you almost have do debt. Let me know if I could help. What state are you in?

fiancing.4 units - Posted by methodman

Posted by methodman on February 14, 2005 at 13:44:34:

Have some cash wanting to buy some units…my fico is still at 0 due to no cl open and one bad debt 4 years ago from my credit card…still trying to get it cleared…should I buy the units for cash then buy others with the equity is this possible?
Or go for some small down payment,then buy others.? with credit issues it may be a problem>

Re: fiancing.4 units - Posted by John (OR)

Posted by John (OR) on February 15, 2005 at 06:13:26:

You should be able to do a number of things. Your cash provides
leverage in that you can get a better price or have such a large down
payment the lender will nor care. In the extreme you can do hard
money loans.

So, talk to some people before you jump. You certainly can work a
better deal then all cash unless the seller is providing a large discount
for all cash (and then you would refinance after the fact so you can re-
use the cash).

John Corey
Chelsea Private Equity, LLC
Hard Money Loans