Using 100% lenders!!!

[Stephen Sherwood]

Hey,

I found lender that’ll lend 100% of cost under $1 million, 5% interest loans so roughly $200,000 is $1073 per month for 30 years. So just wondered if anyone do this to get started finding cash flow properties then refi when you have equity built up.  I’m trying to find what’s wrong with this, if anything besides 5%.  Thanks everyone.