Well, if you don’t have a Lender Approved Contractor under contract for a price that falls within the appraisal, and they filled out the proper lender forms, you will Not be approved for the loan.....end of story.  

In USD it amounts to $70,000 (unit price + closing cost + interior design & furniture).To cut the long story short, my total cash outlay amounted to $29,922 (which is 42% of the total unit value).

However if buying this property could give you access to landlocked developable parcels nearby then thats another story however its a big risk and you need cash to do it. 

I will save that for another story. 

Hi Everyone,I'm interested in hearing your horror stories you have working with motivated sellers?

I'm looking to slowly grow my portfolio and am looking forward to reading your stories. 

I just seen your podcast interview with Jake & Gino great story.

I've looked into it and found a site with 155 glowing reviews and some off sites with a few horror stories. 5 years ago a few members here suggested to not use them but that was 5 years ago.

I understand this is unconventional but I have read or heard stories where investors have managed to put less than 20% down for an investment property.   

My story is similar to yours.