Attention Creative Financing Guru's Help
Need your help!!! All Insight welcome. Under contract for a new (to me) property (Condo). Great equity margins (21%) and needs no work to rent but for 10k more the market would support another 20k in equity and 200/mth more rent. Have great credit and have the money to put 20% down but what's the challenge in that.
I need help figuring out how to finance this deal where I don't have to put 20% down of the purchase price for a bank. Who wants to tie up there cash and have over 40% equity from day one. Trying to do this as cheap (transaction cost wise) as possible and with as little or maybe cash out of the purchase. (Long term this is a new buy and hold rental for me so not looking to flip it or short term type things) The rental numbers work great and have been in this market for awhile. Seeking your thoughts and creative strategies to accomplish the little to no money into the loan.