I currently have 2 deals under contract on a seller finance agreement. Seller is agreeing to do 90% seller finance at 9% interest, with a 10% down payment. They are rentals that are both cash flowing and under lease until next May, at which point I plan to rehab and resale. I am trying to raise the 10% down and bring in a partner or GAP loan person. So far the DSRC companies I have reached out to don't have any programs that will do something like this.
Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
2y
@Randy Mann
You will need to find a private lender or partner on these deals
Also recognize that when you go to refinance it probably will not be in a year as the lender will want to typically go 75% max and chances of that type of appreciation in 12 months is very very low