If I were the loan officer that completed that loan and I heard the borrower say this after closing, I would be required and would do so voluntarily any way, turn him in to my management.

Lines of credits are great but I would only go that route if there isn’t an option to borrow against the asset for a cheaper rate.

I put my 3.5% down and added a 5k buffer above the appraisal and borrowed the remainder through private sources on a 3 year term amortized over 5 years.

We also deal with a lot of nuances of getting the loans done without having to bother the borrower with minor details. 

Sometimes if you are to borrow under an LLC they will make you get a commercial loan which will be a higher rate and typically not 30 years in term length.

Although the bank in FLA is not small regional its GA based regional .Other wise for some of my spec loans I did in Charleston when I was at my credit limit with the local bank I used Lima one for over flow.  18 unit might be bigger than they will do.Can you develop it in phases so your not having to go out on the limb and borrow a big chunk at once ?? 

I know that's how i bought my first home in Silicon valley. price was 90k for a new Shapel home in Milpitas   Had to save 9k which was no mean feat in 75  and then borrow 9k second.. add in some closings cost. 

First lien basis, so you can’t borrow the down payment from them.Most lenders want a borrower to have a certain amount of skin in the game, so LEGALLY being able to put together a nothing down deal is MUCH more difficult than it used to be.A good-great deal can be syndicated, but the money investors want the vast majority of equity ownership, leaving relatively small amount of equity for the “promote”.

I like that saying, Ned - I'm going to [steal] borrow it!

It was 6 properties covered by one mortgage and the borrower bought the package with 6 separate mortgages.