All Forum Posts by: Josh Prentice

Hey Josh, can you define "retail investment property"...as it strip mall or what type of property are we talking about. That will completely change the program. For residential, you can do a "piggy-back" second, but a lender is still going to want to see some skin in the game from you in one way, shape, or form. For instance, sometimes we'll use an "80/10/10" where the buyer puts down 10%, and the seller carries back 10% or we do a piggy-back 2nd to get the first to 80% to avoid PMI, but loans for investors require more skin in the game. Default rates are exponentially higher for those borrowers that aren't putting in their own money. That goes double if the property is non-owner-occupied.

@Josh Prentice

Have you asked lenders? Are you owner occupying? If so, 90% ltv loans are possible. They are harder for non-occupied loans since your effective LTV is so high.

 Seller financing will not work if they want to do a 1031 exchange - in a 1031 they need to sell it and take their proceeds from it to invest in the new 1031. Would not make sense to seller finance a deal like this for a 1031

Can you find hard money to close the deal and then find a way to refi later on after you have pocketed some positive cash flow?