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Updated almost 10 years ago on . Most recent reply
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How do I get investors to invest in Residential income property acquisition without money down?
I have a few income properties, looking to acquire more but need lender participation. I have tried a few options ( home equity line of credit, hard money lenders). My challenge for the home equity line is the property was purchased less than a year and banks use the purchase price instead of appraisal to determine the line. As for the hard money loan, lenders won't financed any loans below $50,000 and my interest is to purchase a few properties with purchase prices less than $10,000 each. The loan eligibility is: only 1 property can be financed at a time and the sale price should be $50000 and above.
I would like to borrow up to $50,000 (to acquire a few more properties) with no money down and repay with interest.