Updated over 18 years ago on . Most recent reply
Creative financing question
I have recently started a company and I am thinking of investing in real estate with my income before taxes.
I have no idea how to explain this so I will use a scenario. If at the end of the year I had $25,000 to invest that would give me 5% down on a $500,000 property.
Let's say I found a property for $450,000 and wanted to put $50,000 of renovations into it. What would be the best way to obtain the $50,000 of financing?
Could I ask the seller to write up the price of the property and then loan me the 50 grand; get the lender to give me the additional 50 grand on the loan, or try to get another loan for the $50,000?