Updated almost 18 years ago on . Most recent reply
110% Financing
Hello,
I would like to buy some property(s) in my local area (Toledo, OH) that are Fixer-Upers. Have been looking around and found a few that would either cash flow or make good flips. I can do most if not all the work myself.
However (yep here it is) I don't have any spare cash to make it happen. Are there any mortgages out there that will give me 100% of the purchase price - or even better some extra cash to make the repairs and rent it out? After 1 or 2 I would be in much better cash position to start a more normal cash down payment scenario. I would expect a higher rate, but not sure what that would be.
I have been reading books, such as Robert Allen's, and reading on here. Hard Money lending scares me a little - especially the interest. I am in a very stagnant (maybe even depressed market). The property values here have not changed for many years.