All Forum Posts by: Account Closed

Can someone share their experiences with Scotsman guide?

And this is a portfolio of single family rentals

Thanks

Hi,

How would I find a lender that allows the seller to carry back for 100% financing?

I am looking for a commercial loan with an amortization schedule.

So far I have only been able to find interest only deals and then a lender where I have to put down 10% + closing.

I was thinking of trying a few credit unions.

Any advice? I am working hard to complete this deal. Ideally the seller would carry 30% and the lender finance 70% on a multifamily deal.

Thanks Gary, you have been very helpful!

I am beginning to picture this working in my mind.

Biggest challenge right now is establishing credibility and finding buyers.

If I only paid part of the deposit (say $10), with the rest due upon completion of inspection (14 days?), would I still have a valid contract that I could sell?

I have no money but have lots of deals at 12% + cap rates that I want to wholesale.

What is my best strategy to make these deals happen and protect myself and my seller and buyer?

I don't mean to fraud anyone, just trying to understand how people make 100% financing work. Thanks Steve Babiak for the advice in helping me to understand this topic. I fully intend on paying off all my loans on time.

For example, would it be possible to use the bank for 75%, and then have the seller carry 25% but just not record it til later? The bank wouldn't necessarily even have to know that seller financing is involved.

Thanks for the advice Mary. I am in favor of your recommendation.

Any PM with referrals to reputable asset-based lenders would be appreciated. Google search and craigslist have helped me find a few lenders but also a few con men.

Even my private lender wants me to fund 10% + closing costs.

Is there some kind of way to make the original scenario work?

Here is my scenario:

My bank requires a 25% downpayment.

The seller has agreed to finance the downpayment.

The bank requires the downpayment come from my own funds.

I don't have nor want to use my own funds.

How can I make this work?

Hi,

Is it possible to improve an investment property with a HUD Title I loan?

Truly
Kyle