How do I pay back an investor?
I'm facing a bit of a dilemma: I found a property that I would love to purchase, however I do not have the cash for a down payment. I would like to find an investor who would cover the down payment, closing costs, etc. How do I pay them back? Do I try to refinance after a year to get cash out and pay them off? I'm trying to think about how this would work since 1 year doesn't give much time to build up equity, especially enough that I would be able to refinance and get enough cash out to pay off an investor. Has anyone done this and can offer come advice? Or does anyone have a different strategy for me to consider? Thanks!