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Updated over 5 years ago on . Most recent reply
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- Rental Property Investor
- Greenville County SC / Atlanta, GA
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Are investors doing conventional financing on off market deals ?
Wondering if investor are actually using conventional financing when purchasing off market deals , I know most of the time when you find a off market deal, or deal that’s not Zillow or most sellers or wholesaler would like to close quick and with a cash buyer, so I was wondering for those who are able to get those good conventional rates , what kind deals do your look for since most likely if the funds are coming from a bank it’s probably going to take little longer to close unlike the cash buyers quickness 7-10 day close, I guess I’m asking to help figure out how I should approach deal finding if I know I’m going through a bank and the only cash I would using but is the 20% down payment.
Most Popular Reply
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It may be easier on your end to use conventional long term bank financing, but people are selling off market because their situation doesn't lend itself to the conventional sales process. Keep your eye on the MLS. Even then, the best deals on the MLS in my area go all cash very quickly at attractive valuations.