Either way you're hitting a ceiling of 75-80% financed. 

The higher purchase price can be financed.

Given that the borrower had given us sufficient time to complete the loan processing and clear all title conditions, we were able to arrange the financing with one of our multi-family lenders at a rate that was actually lower than the prevailing rate when the borrower initially contacted us.

Hello BiggerPockets community,I wanted to come to the forums and ask everyone who is familiar with seller financing, or have done deals using this investment technique, which states are the best to do this form of investing in and why?

Cash flowHow did you finance this deal?

Hey mate,Sorry to hear about your troubles but it's not too uncommon.I've been in the turnkey biz for 10+ years now and have often been called the "bad guy" as we only sell to investors looking to purchase with cash.Many believe that because we only accept cash buyers, that we inflate the properties price which definitely isn't accurate.Quite on the contrary when looking back I feel that we under sold them lolWe can justify every one of our property prices with a CMA independent of our in-house sales.Whoever believes that financing a turnkey property makes it safe is wrong.Most turnkey providers or affiliates push the financing model (Even in today's high interest environment) to make more sales.They have "in-house" lenders or community banks that they establish relationships with and promise large volumes in loans.This in return get's rewarded with various favors and many are easily able to manipulate appraisals.Having flipped over a thousand properties, I know how easily an appraisal can be manipulated so for anything reading, "NO", financing a turnkey property doesn't necessarily make you purchase it for fair market value.To answer your question:When S#%@ hit's the fan like it did for you with this deal, I personally would always look to cut my losses and move on smarter and more experienced.Granted, over the years I have witnessed many investors buy 1-2 properties from my company and expect miracles only to get disappointed. 

If you want the farm, you need to focus 100% of your finances on getting the farm. 

They are hard to find though.Our institutions that are similar to hard money lenders are MICs (Mortgage Investment Companies).Since financing is already hard for homeowners due to the qualfying rules, the MICs also do a lot of private first and second mortgages to homeowners.

Bring 500k to the table together and we can lock down some owner financing deals!

I've done a few seller financing deals in Atlanta.