I am in Illinois now. Last night, I spent the night at my son's house.
I am not buying that little blue craftsman; it has foundation issues.
I have been seeing houses but haven't found one yet which will work.
I don't think I am going to find a house which I can currently pay cash for which will suit my needs. While a traditional mortgage is currently not an option, a hard money loan is.
You may recall that SB has previously lent money through an investor group for a hard money loan. The same group is willing to lend to me. I can borrow at 7%, with a 2% funding fee, for 2 years. At the end of 2 years, if I wish, I can roll it over for 2 more years with another 2% funding fee. This would allow me to buy a more expensive home right now, without a job.
I am going to explore this idea a bit more and see some more homes.
September 13th, 2023 at 05:30 am 1694583023
September 14th, 2023 at 06:46 pm 1694717204
September 16th, 2023 at 12:38 am 1694824700
November 6th, 2023 at 04:14 am 1699244053
Thank you, Rob.