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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: First Deal Posted by Lughead on August 12, 2006 at 9:54 PM In Reply to: First Deal posted by matt swearingen on August 11, 2006 at 11:18 PM reading between the lines it sounds like this property is not in CA - if that is the case you have no equity purchase agreement to which you must adhere ... is this property in CA? I have a deal. Here's the info. : Have an appraisal already done. $400K : Prelim done. 1st for $244K : LTV=61% : My question is that since the foreclosure sale isn't even scheduled until Nov. Would it be best to: : 1. Just buy the property through a new loan at $300K and give the remainder to the seller at close of escrow.Then sell it and get my money. : 2. Do a hard money loan to pull some cash out. : 3. Just do a equity purchase contract and then sell the property. : I'm just a bit confused as to which way to do it. I also heard that if you need a quick close to just do a hard money loan as long as the LTV is there, which in this case it is. : If someone could kindly email me their suggestion to mattismyagent@sbcglobal.net that wouldbe great. : : Thanks : Matt Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : reading between the lines it sounds like this property is not in CA - if that is the case you have no equity purchase agreement to which you must adhere ... is this property in CA? : I have a deal. Here's the info. : : Have an appraisal already done. $400K : : Prelim done. 1st for $244K : : LTV=61% : : My question is that since the foreclosure sale isn't even scheduled until Nov. Would it be best to: : : 1. Just buy the property through a new loan at $300K and give the remainder to the seller at close of escrow.Then sell it and get my money. : : 2. Do a hard money loan to pull some cash out. : : 3. Just do a equity purchase contract and then sell the property. : : I'm just a bit confused as to which way to do it. I also heard that if you need a quick close to just do a hard money loan as long as the LTV is there, which in this case it is. : : If someone could kindly email me their suggestion to mattismyagent@sbcglobal.net that wouldbe great. : : : : Thanks : : Matt Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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