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Updated over 6 years ago on . Most recent reply

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Joshua Hollandsworth
  • Cleveland, OH
38
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161
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Any "cash back" on conventional loans?

Joshua Hollandsworth
  • Cleveland, OH
Posted
In your experience, have you ever been able to score a "cash-back" deal on a rental property? Only if there is enough equity on the property, obviously. What I mean is, If a property is worth say, 100k. Say you talk them down to 90k. Is there any way to make an offer contingent upon cash back to the buyer? So, I'll pay 90k if the seller gives me 5k cash back. Or does this interfere with the "skin in the game clause?" My lender wouldn't let me do this.

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Jason D.
  • Rental Property Investor
  • St. Petersburg, Fl
4,385
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Jason D.
  • Rental Property Investor
  • St. Petersburg, Fl
Replied
That's called a "sellers assist" and can be done but it has its limits. You would still need the proper down payment for the loan, you you'll still need cash for the purchase

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