Posted by Ed Garcia on October 15, 2002 at 10:45:33:
Jay,
It is possible to do 100% financing depending on the lender, how strong is the borrower, seller cooperation, and how good of a deal it is?
Example:
I could go to my bank right now and they would 100% finance it for me because they know that I would have structured the deal at 70% of market value for them.
- I would either have purchased it at 70% below market.
- I would structure it with a seller carry back giving them a 70% LTV of market still allowing me to purchase it with 100% financing.
- Of course you can always buy it on a land contract if the seller will carry?
These are just a few ways that it’s done. Many times we can use combinations of above to be creative as well as, lease/option, partner with money, etc
Ed Garcia