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8 July 2018 | 0 replies
I want to do an 80-10-10 loan, or piggyback loan. 80% from a small bank, 10% business line of credit from a larger bank, and 10% downpayment from me.
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9 July 2018 | 2 replies
With a home equity loan you can borrow against that difference, some banks allow up to total of 100% of homes value but typically best rates are 80% and below.
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2 August 2018 | 5 replies
All of the banks told me up to 2 units just like @Harjeet Bhatti said. doesn't hurt to keep trying and asking.
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12 July 2018 | 5 replies
But your issue becomes that regardless of how you would like it priced, the bank is going to price it based on comparable sales so even if a 6% CAP gives you a value of 600k but the highest comparable they can find is 500k, you're going to run into problems when your buyer goes to finance.
9 July 2018 | 2 replies
Your original offer was asking for more than a bank would give you, which with owner financing almost never happens.
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9 July 2018 | 5 replies
I've heard some banks will/have the right to call your note.
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9 July 2018 | 9 replies
Landscaping can be done for a couple hundred bucks and can really help with tenants and bank appraisals
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11 July 2018 | 13 replies
It is my understanding that financing with a bank mortgage in 1st position and a seller carry back in 2nd position is something that was allowed prior to 2008 but has since died out.
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10 July 2018 | 3 replies
Can I ask the bank for the extra 40k to do whatever repairs necessary to my liking, such as on a line of credit.
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13 July 2018 | 36 replies
However, the advantage is that I can use leverage from the bank and get a high return.