How to buy this property?
Hello Fellow BP-ians,
does the banks always go with 75 ot 80% of the purchase price on contract or is there a way to get 75 to 80% of the actual appraised value, even though the contract purchase price is only 75% of actual value? or is there a smart and legal way to put a contract together which will let the lenders provide me with 75% of the appraised value rather than the contract value?
Any help/thoughts/ideas will be appreciated
Dhanush
Banks lend on the contracted price. You could find a private lender or hard money lender that will lender based on the appraised value.
@Paul thanks,trying to keep hard money as last option
Find, Vet and Invest in Syndications
|
BiggerPockets
PassivePockets will help you find sponsors, evaluate deals, and learn how to invest with confidence.