Buying vacation rentals

[Jonathan Hernandez]

Has anybody bought a property with a loan and got a seller carry back for the down payment? If so, what lender did you use. I'm having a little bit of an issue finding a lender that will allow this strategy. The ones I have spoke to say they have a CLTV of 75% - 80%.

[Eduardo Aguilar]

@Jonathan Hernandez- it's my pleasure Brother. If you do not currently own a home, you should definitely look into taking advantage of an FHA or even an Ag Loan which requires 0-3.5% down payment as long as it's your "primary residence". This would significantly lower the cash that you would need to purchase though you would need to run the numbers to confirm that the property still works as a vacation rental at the higher mortgage payment that would result from a lower down payment.