Low Money Down Suggestions in Florida

[John Carlin]

Any suggestions for lenders in Florida? Goal is to have instant equity at purchase because the brokers lends on the appraised value rather than purchase price.

[Michael Kinsella]

Hi John,

You might be able to find an individual private lender where you can work something like this, but with regards to hard money lenders, banks, or similar financing options, what you are discussing is very atypical.

Lenders generally like to see that you have at least some skin in the game.

Even if a lender says that they lend up to "70% ARV", this typically comes with a maximum LTC, or loan-to-cost stipulation.

Best,

Michael