Financing for down payments and renovations

[Nick Lamagna]

Hello, I was interested in hearing some creative ways investors have put deals together. I often pick up multi family homes that have a DSCR that is too low for conventional financing, so we work a seller financed deal with normally 10% down and I need to cover all renovations. Typically the cash flow can fill the easy fix units and start to increase the income and occupancy rate monthly, but I have buyers that are waiting to purchase the homes once they hit 80% so we often will utilize private lenders to fund the down payments and renovations and pay them a return in six months. Some finance on credit cards, some pull retirements or use HELOCS, etc. I have also had HML's offer bridge loans but we often look for low doc financing for the properties. Looking forward to hearing some tips and success stories for moving your multi units faster utilizing creative financing. Happy investing everyone.