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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. 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. |
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