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Updated over 5 years ago, 05/17/2019

User Stats

130
Posts
116
Votes
Rich Somers
Pro Member
  • Investor
  • San Diego, CA
116
Votes |
130
Posts

How to write an all cash offer but still use lender financing?

Rich Somers
Pro Member
  • Investor
  • San Diego, CA
Posted

So I have a personal accout with navy federal, and they offer some very low down, low interest rate terms for owner occupied loans. I want to rent out my condo in downtown San Diego and purchase another downtown condo to live in. I want to write an offer on a unit i saw today that has multiple offers, I’ve heard Brandon Turner on one of his podcasts mention writing all cash in his offers, but then using lender financing instead. How can I word this in the offer to make mine stand out and look stronger than others, but then use lender financing to get it done? I know i want this unit for sure and i know i can get the lending no problem. Something to note: I am also in contract on a commercial property in Louisville at the moment, this will be my first commercial loan, and we’re set to close May 6th. Should I give my commercial lender a heads up I’m going to purchase a second condo or do you think it’s better if they don’t know?

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