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Updated almost 8 years ago on . Most recent reply

User Stats

48
Posts
31
Votes
Thomas Graham
  • Investor
  • Oklahoma City, OK
31
Votes |
48
Posts

Financing help! Family friend came to me with 7 properties!

Thomas Graham
  • Investor
  • Oklahoma City, OK
Posted
Good afternoon, a family friend came to me with a deal on 7 properties. We haven't lined everything up but I have a question regarding financing. I'm expecting to acquire these for below market value. Any idea if a lender would be willing to accept the equity in the properties rather than requiring 20% down? I'd be talking about a commercial property. Any other options I might have? They are all smaller single family homes. I expect values to be $70-80k each but hope to get them for $50-60k each. I have options to tap for extra cash but would prefer not to.

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