Lose the property, get $0 and ruined credit.not really list it with a good broker sell it in 3 days for 100k or better.. no rationalizing how you guys cream peoples equity.. it is what it is we all do it.. myself included.. just depends.. on how you got the deal.. if its MLS or agent brings it to me.. then I pay whatever.I mean I have bought properties that agents listed and they had no clue as to the timber value..

Note, LTV is just the difference of what they want as a down payment or kept in the loan as equity (your skin in the game).

Originally posted by Account Closed:I dont like it. the best way to lose a million dollars is have some newbie go flipping houses on your (friends BIL) dime.Money-less people thinks its EZ to make money with other peoples money without skin in the game.  

Almost all lenders will expect skin in the game.

Do I need to have him put in 10% or so to have "skin in the game"?  

I think I could sell the building for top dollar right now (1 - 1.2 million)  I am currently learning about multi-family and want to purchase a sizable property with OPM as well as using the equity from my building so I have plenty of skin in the game. 

My plan was to use the $100k as my portion of "skin in the game" and work with either a portfolio or hard money lender for the rest.

No beer, pizza, twinkles, ice cream.

HML want some skin in the game or serious equity in the deal.

As for financing the deal, I have found that everyone wants you to put 20-30% skin in the game.