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Old 05-06-2008, 08:09 AM
Fernandez Fernandez is offline
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Join Date: Jan 2002
Posts: 191
Fernandez Level 1 (32)
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Dearest Nicky,
Unfortunately, private "capital" for DR ventures has dried up, and where you might find the capital to purchase your dream, the lenders might not be the type you would want to associate yourself with. In the DR, should you find a private party who would be interested in lending, please check very carefully into the source of funds, as in hard times the "cash" heavy tend to belong to unwanted groups .... be careful.
If the Seller of your dream property is willing, you should first approach him/her/them with Direct seller financing, where they arrange to lend you as part of the sale, for a fixed period of time and under a specific worked out budget that allows you to pay off interest and/capital during the period. As you conduct business, and gather a history in the DR, you might then approach a prime tier lender for financing to take out your Seller financing.
Good luck.
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