Posted by Daniel on August 28, 2009 at 17:23:18:
Thank you very much for your response. I really appreciate it.
Financing LTV Question. - Posted by Daniel Rodriguez PA
Posted by Daniel Rodriguez PA on August 24, 2009 at 15:13:16:
Say I found a 5 unit property worth $200,000 based on the rents, net income, etc. and the seller was asking $100,000 for the property. Are there lenders that would lend the full asking price based on the LTV and not require a down payment?
Thank you,
Daniel Rodriguez
PA
Re: Financing LTV Question. - Posted by James Harris
Posted by James Harris on August 28, 2009 at 09:18:24:
Acouple of ways you could look at this, as I see it. 1. Hard money loan, 100% of purchase price. Refinance at up to 80%, pull cash out, stick it in your pocket, tax free. 2. A bit more creative, have the seller place the property in a trust, then sign a paurchse sale agreement, then you refinance through the trust.