Hi everyone I'm new to investing and found a nice property. My question is how do you use the money you borrow from a private lender. Do you use it only for the down payment and then refinance cash out and pay it back or do you use it for the entire purchase price Thanks
To some degree you can use it any way you would like. You just need to create a deal between yourself and the private lender.
The private lending could finance only the down payment and the rest could come from a conventional loan, thought you may need to use a portfolio lender as some banks want you to have some skin in the game. You could also use it purchase the property entirely. Or anywhere in between.
ok thanks Colin that was very helpful