Buying a Property with built in Equity?
Hi, I hope you’re doing well!
What are some ways to purchase a property with built in equity, paying less than its worth.
For example, let’s say you get a loan for $200,000. When the property get appraised, from my understanding a lender do not want to lend more than the property is worth. If you want to have 10% built in equity in the property right when you purchase it, how do you go about it and what is the math?
Is this the proper formula ( Purchase Price/ Appraised Value) to calculate it?