Posted by ROBERT BARLEY on November 15, 2000 at 21:17:20:
HAVE YOU TRIED LOOKING INTO VA AQUIRED PROPERTIES IN YOUR AREA.
I need financing - Help! - Posted by Valerie
Posted by Valerie on November 09, 2000 at 20:58:05:
I am looking to buy two side by side duplexes in very good condition and rental property of this kind are in high demand in my area. The properties need some cosmetic fix up and the sellers are asking $58,000 and $42,000 (these two properties are a few blocks from each other). I’m going to make a lower offers of $45,000 and $38,000. Sellers are motivated and I have good credit - I am determined to get the financing on these properties. They would rent for $450 and $400 a month per unit and I am not living in any of the units. There are not many investors in my area but I don’t expect them to stick around for long.
If anyone can finance me let me know.
Re: I need financing - Help! - Posted by Paul Macdonald
Posted by Paul Macdonald on November 14, 2000 at 12:55:39:
Fannie/Freddie guidelines say 70/75% standard for a duplex investor purchase. If you have REALLY, REALLY good scores and qualifications they’ll let you go up to 90%. And you’ll probably have to have the deferred maintanence handled prior to settlment. How much cash do you have to put down and how’s your credit?
Re: I need financing - Help! - Posted by Valerie
Posted by Valerie on November 14, 2000 at 20:37:15:
I have excellent credit and I have no cash to put down but if I really have to I can try to get $ from my uncle.