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Updated almost 4 years ago,

User Stats

8
Posts
1
Votes
Anthony Morales
  • Flipper/Rehabber
  • California
1
Votes |
8
Posts

Need Guidance for Down payment Loan

Anthony Morales
  • Flipper/Rehabber
  • California
Posted

So I signed the contract for owner finance deal.  Purchase price is $200,000, appraised currently at $245,000 and my deal with the seller is:

         * $10,000 down 

         *$1,300 per month towards the principal. 

         *Seller keeps deed until payoff 

I would like to get the title so I can leverage via refi, sell etc. I can:

         *get  $160,000 loan        

         *Need $40,000 down

Does anyone know of a private money lender who specializes in down payment loans and, if so, what are the terms?  I am completely open to whatever terms are available.  I am humbly seeking advice on this.  I realize this is an easy solution for most investors, but although I am really good at establishing contact with sellers, I am 'amateur hour' when it comes to the logistics of funding.  Any guidance is very much appreciated 

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