Buying at 70-80% Appraised Value and No Money Down

[Zane Belden]

Hey all,

I'm always reading about investors buying properties at 70-80% of appraised value and being able to get the bank to loan the entire purchase price since there's 20-30% equity immediately upon closing.

From my experience, appraisers tend to lean towards or come close to the agreed upon purchase price, somewhat regardless to the real appraised value.

So I'd like to hear from anyone that has been able to do this and exactly how they went about it?

The above scenario sounds like the order is: appraisal, offer, accepted purchase price, inspection, close, but my experience is that the order is: offer, accepted purchase price, appraisal/insepection, close.

I look forward to hearing from anyone who has been able to execute this strategy!

Thanks, Zane

[Salvatore Lentini]

Hi Zane-  If you find a lender that does that let me know!  I buy properties at a big discount but I work with private lenders, make improvements, refi into a long term loan and pay back my private lenders.  Rinse, repeat.