Posted by chase on December 14, 1998 at 11:43:09:
can you tell us where these sites are?
i’m pretty new to this, but i know when i bought my house (at 10% down), the loan people stated explicitly that i could NOT borrow the downpayment. from anybody…in your case i imagine that might not matter if you’re not getting a conventional loan on the remaining 80% or if you’re just going to flip the property anyway.
20% Down/100% ownership - Posted by GregInAustin
Posted by GregInAustin on December 14, 1998 at 10:58:38:
I have found 2 sites on the web that offers RE investors a loan on 20% of the cost of an investment property. They loan you the down payment; you own the property to rent or flip or whatever.
The other site loans you 80% on the value of the home, then you line up a buyer who pays you 100%, thus paying the loan company back their 80%.
My question is, of course its not as simple as this, timing must be right, but has anyone on the site done business with any firms like this and what questions should I ask, fees should I expect to pay. I beleive neither firm require up front fees. Thanks for any help you can give.