What if Your Loan Doesn’t Qualify for 100% Financing?
(If you’re wondering how it’s possible to get a property for so much cheaper than its ARV, you’ll want to read our Find Sellers page.)
Here’s a real-life example of a deal that one of our members found. These numbers were calculated using our proprietary Advanced Deal Analyzer software:
Here’s a real-life example of a deal that one of our members found.These numbers were calculated using our proprietary Advanced Deal Analyzer software:
$0 cash-to-close with an estimated net profit of nearly $60k. Those are the kind of home run deals that our members bring us over and over again using our system.
- Previous experience
- Credit Score
- Minimum Down Payment
No matter who you are, no matter your past (with very few exceptions), and no matter how much money you have or make, you can go out and find a great deal that we’ll finance 100% of the cost.
Only the best deals qualify for 100% financing-37% of our borrowers qualify for 100% financing loans-but that doesn’t mean it’s not a good deal.
While looking for deals that qualify for 100% financing, you’ll still come across these types of deals-ones that require $5k cash-to-close, but can results in $30k or more in profit.
The first thing you do is to try to negotiate the price downward. Explain to the seller that in order to make the deal work that you need that price.
If that doesn’t work, teaching you how to find other sources of money is a major part of our system. We’ll teach you strategies such as
- Home equity line of credit
- Retirement accounts
- 0% interest credit card advances
- “Love” money
The point is this: don’t step over quarters looking for a dollar. Take these deals along the way, even if they’re not the perfect 100% financing deals you’re looking for.
CHECK OUT JACK’S STORY.
Our CEO, Ryan G. Wright, has been investing for over 20 years. When he first started, lenders would promise him money, but then wouldn’t want to fund the specific deals he brought them.
That doesn’t happen at Do Hard Money. With our program, we’ll teach you to find the exact types of deals we’re willing to fund.
Have equity in their property – Equity is the difference between what the property is worth and how much the owner owes on the property. A successful fix and flip requires that you buy properties at a discount, and no one is going to give you a discount if they don’t have decent equity in their property
Let’s say a 90-year-old man passes away. His four children come to town to pay their respects and take care of his estate.
In fact, our median cash-to-close number is $2,183-much lower than what borrowers pay with every other hard money lender out there
The house is paid off, but it’s in terrible shape. They can’t list it on the MLS because it just needs too many repairs and no bank will lend the money to a potential buyer.
These four children just want the house sold so they can get their money and go back home. They don’t want the hassle.So a fix and flip investor comes along and offers cash. This solves their problem and gives the investor an opportunity for nice profit.
Our system gives you all the software, training, and resources to find close on these types of properties over and over again:
That means your target purchase price for that property is $155,000. If you can secure that price, you’ll likely qualify!