Few extra bucks for a temp. down payment? - Posted by Joel MKE

Real Estate Investing
#1

Posted by Izzy NY on July 15, 2002 at 16:04:41:

try FNBAonline.com they are a bank that does 90% down on non owner occupied property (investment) if it is full documentation (you can prove what you make with tax returns, etc.) or 85% on a stated income (you sign a statement under penalty of perjury claiming to make a certain amount, but you dont prove it.)

There are alot of other programs out there for high LTV loans to investors.

many people will also advise you to do it as owner occupied and then refinance as an investor…

#2

Few extra bucks for a temp. down payment? - Posted by Joel MKE

Posted by Joel MKE on July 15, 2002 at 14:57:48:

Hey everybody,

I’ve got what I think is a decent deal brewing here. Long story short, I need to get 20% down of 200,000 to get a loan on a 4 family I’m looking at, I will then get a 20% second back from the seller. I have 28K to work with right now. Anyways that banks do not take aversion to in order to get the extra 12K?

Does anyone know of any lenders who will take 10% down on a non owner occupied 4 family? Doesn’t hurt to ask :slight_smile:

Thanks -

Joel

#3

Re: Few extra bucks for a temp. down payment? - Posted by Clair-MO

Posted by Clair-MO on July 15, 2002 at 17:58:11:

Joel, The rule of thumb: “Buy low and sell high” I never buy a property for the asking price, it’s not practical for doing it, in my opinion. When you can use “creative thinking” in buying property for nothing down. Email me for more details.

#4

Re: Few extra bucks for a temp. down payment? - Posted by BillFL.

Posted by BillFL. on July 15, 2002 at 15:24:23:

Joel,

Your best bet is a Private Investor. E-mail me and I’ll send you a PDF of what I use get Private Investors in to my master mind group (If you’re not familiar with the Master Mind Group mindset please read “Think and Grow Rich”).

#5

Re: Few extra bucks for a temp. down payment? - Posted by Dan Baker

Posted by Dan Baker on July 15, 2002 at 21:00:57:

Bill,
Would your mind sending me your PDF for private investors?

OPPORTUNITY TO WORK WITH AN INVESTOR / BUYER WHO HAS CASH AND CREDIT

I am an investor looking for any type of real estate in a ?distress?
situation or priced below market.
.
I am open to doing deals in all parts of the country providing my partner
can due some diligence and legwork on the potential property

I am a serious investor who has several hundred thousand in cash and I am
pre-qualified with Greentree Funding for up to $900,000 for a purchase money
mortgage based on a non-owner occupied loan at 90% LTV.

If you are interested in working with me to find these situations, I would
be interested in forming an alliance with you.
Please call me to discuss how we might work together

Dan Baker

Phone 949-795-0491
Cell 949-795-0491
Fax 949-489-3211

#6

Re: Few extra bucks for a temp. down payment? - Posted by Joel MKE

Posted by Joel MKE on July 15, 2002 at 15:37:59:

I tried to reply to your email but it was returned. Shoot me a message @ jdavid@bbuds.com

Thanks -

Joel

#7

10% down investor property - Posted by Izzy

Posted by Izzy on July 15, 2002 at 15:33:06:

there are banks out there that will do 10 down investor.

what is your credit score, and do you go full doc? stated?

#8

Re: 10% down investor property - Posted by Joel MKE

Posted by Joel MKE on July 15, 2002 at 15:36:58:

Credit is great. Full doc is a term I’m not familiar with, can you explain? Any names or contacts at these banks?

Thanks -

Joel