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All Forum Posts by: Jen Stekkinger

Jen Stekkinger has started 5 posts and replied 15 times.

Thank you guys for your feedback. I think a partner could be the way to do this. Let me ask another question. So lets say I partner and this person is putting up the cash down. Would the banks have an issue with it? My partners goals would be to lend the cash and reap interest on the loan when I buy them out. Is this the path one could take?

Smart..Can this be used for a down payment?

I ran across an amazing deal on a duplex far below market and appraisal value. Only I dont exactly have the 20% down payment to purchase the property. The seller will not finance. Because I have a new mortguage (not enough equity) I need to wait one year. I could make the purchase as a second home and I was thinking of doing a hard money loan for 40K.  The hard money loan would be 6months used as a down payment. My bank would re-fi and pick up the loan in July. Is this an ok thing to do or are there issues I need to consider? Did anyone else finance this way? Or is this way to risky?

I have a deal that is for a commercial storage business and has a Duplex and a 2 bed home thrown into the deal. Properties are sepperate lots. I am looking for creative financing and a lender who can work with me on the down payment. Owner is also willing to carry but its the cash for the down payment I need help with. Whats the best way to get help on this kind of a situation? 

Most investors already knew this beofore the deal was inked. Arizona is perhaps the most saturated state full of real estate investors in the US. As soon as a listing hits, 30 investors are in a bid war before day 2. If you dont have an inside way to get first view before a property list and cash in hand, your not likely to get in. Option 2 pay for inside information, option 3 find your own properties so you dont have to compete. Its not an easy dime like it use to be.