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Updated over 6 years ago on .
Seller carryback - bank requires lease
Hi everyone, I am considering purchasing a property with a 20pct seller carryback. However, my bank won’t finance the other 80pct without a signed lease with 1.2pct DCR.
I am finding this to be the ‘chicken or the egg’ scenario. What ate some good strategies that will allow me to have a tenant with lease in place first so I can utilize the 20/80 financing?