There really is no financing available in the country. The builder is offering financing but would require putting at least $60K on a step up plan down over the next 6 months then 9% interest payments on 50% of the purchasing price. I don’t have that kind of cash on hand.
The entire property amount is only 200K and I can put down 20%. Any thoughts would be great.
Thanks
winmar
mazziatplay
March 29, 2010 at 3:43 am
Where is the property (state?)
no_mo_names
March 29, 2010 at 3:46 am
If you are looking for funding for real estate properties, we have a new website up that will unite property investors such as yourself with financial investors.
http://www.ActionInvestorNetwork.com The membership and property postings are absolutely free for now.
Make sure you have details about the investment as the website only deals with real estate investments. You will be asked questions that will help financial investors evaluate your deal and contact you.
Good Luck.
Tony M
March 29, 2010 at 4:43 am
Sounds like an emerging market if there is “no” financing in-country, which is not a problem, but be very careful to ensure you are dealing with reputable people throughout the transaction. Most importantly, GUARANTEE that clear title can be conveyed.
To see if 1st American can help with a loan and title services in the country you’re interested in, check country list at: http://www.firstam.com by clicking International & Offshore Svc’s tab, followed by “International Services”.
If country is listed there, give a call to contact in center of page (Mike). International resources found on website below.
Hope this helps, and good luck!