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Getbig Alternative Boards => Y Board - The Player's Club => Topic started by: JudgeReinhold on July 14, 2008, 12:15:25 AM

Title: Any Real Estate Professionals?
Post by: JudgeReinhold on July 14, 2008, 12:15:25 AM
Danielson? any other genius, crazy smart people here with knowledge about 100 percent financing with foreclosed homes. Any loan officers here? I want to buy like 2 to 3 flips without putting anything down, and I need cash to fix up the place cause I dont want to use any of my own.
Title: Re: Any Real Estate Professionals?
Post by: danielson on July 14, 2008, 02:28:41 AM
Danielson? any other genius, crazy smart people here with knowledge about 100 percent financing with foreclosed homes. Any loan officers here? I want to buy like 2 to 3 flips without putting anything down, and I need cash to fix up the place cause I dont want to use any of my own.

100 percent loans are pretty much done, at least in Michigan. You need to work with the seller, get an inflated appraisal, bring in more than you are paying for the house and have the seller pay you back at closing.
Title: Re: Any Real Estate Professionals?
Post by: elite_lifter on July 14, 2008, 03:28:23 PM
Forget trying to flip in this market you will lose!
Title: Re: Any Real Estate Professionals?
Post by: dan18 on July 14, 2008, 04:48:37 PM
Danielson? any other genius, crazy smart people here with knowledge about 100 percent financing with foreclosed homes. Any loan officers here? I want to buy like 2 to 3 flips without putting anything down, and I need cash to fix up the place cause I dont want to use any of my own.
sellers consession
Title: Re: Any Real Estate Professionals?
Post by: danielson on July 14, 2008, 04:51:19 PM
sellers consession

That can go up to 6% total and only cover closing costs, to do what he wants to do he needs to be creative and find a seller who will cut him a check at closing provided he gets a mortgage for more than he is technically paying for the house.
Title: Re: Any Real Estate Professionals?
Post by: Alex23 on July 15, 2008, 01:24:19 AM
Danielson? any other genius, crazy smart people here with knowledge about 100 percent financing with foreclosed homes. Any loan officers here? I want to buy like 2 to 3 flips without putting anything down, and I need cash to fix up the place cause I dont want to use any of my own.

Can someone flip houses in timeout land? Like bizzaro land, real estate in there is still heading up.