SubTo is taking over someone elses loan.

What type of loan is this?

Basically, one of the floors was just empty, and they installed a new kitchen and bathroom.

So I did a 3-2-1 buydown and secured a 2.875% interest loan for the first year of the loan, and it will gradually go up a percent each year until it hits my rate of 5.875%!

Build - rent - refinance -repeat. in columbus ohio you are buying old houses that are 1900 or 1920 or 1940 and you are in a sellers market. on the other hand you can source land which is a buyers market and build single family homes or duplex or triplexes that will return by renting and pulling cash out on a DSCR loan and doing it again. there aren't a lot of strategies that do this. flipping is different. so many risks. but when someone has a well oiled machine it's all good and less risk.

I would suggest reaching out to owners of multi family who have no loan on the property.

But bottom line every place is different and there is no one size fits all for the development game.In Oregon and WA many banks will go 50% loan to cost not to exceed 50 or 60% LTV on dirt.. but for me I always pay cash for the dirt.

Is it hard money loans, angel investors, etc?

Is the loan assumable? 

So i put in an offer for 10% down conventional loan, $530,000 with 10k back to me for closing costs and it was accepted right away.