Q&A: How to finance investment property with almost zero down?

by David Jenyns on September 9, 2012

Question by Suresh P: How to finance investment property with almost zero down?
I own two condos one, I live the other I am renting out. Both dont have any equity yet. I already have 51% debt to income. I can still afford MXM 5K down including closing costs and tax prepayments. My interest is to buy foreclosures and sell after ~2 yrs. I am aiming at high end units that can currently be bought at ~200K but will apraise to ~350 in about 6mos. Is there a way to find finance in this situation.

Best answer:

Answer by satarnag
get a team of people who have money to finance this deal and split the profits. Hard money lenders will lend up to 65% of the appraised value. However, I worked with some that based the loan on the property itself as I am very sharp into finding good deals and have built a trusting relationship with them.

You could also control the property by having a 6 month purchase option contract on that property and then assign your rights to a retail buyer or other investor.

Trust me, if you can find deals like that, finding the money is easy.

Regards…

What do you think? Answer below!

Share

Previous post:

Next post: