Delayed Financing Exception
Hello all,
I'm kinda newbie here so please correct me if I say or ask something wrong. I'm going to buy 2 fully rehabbed and tenanted properties with cash in IL and planning to do delayed financing shortly after closing. I'm looking for lenders who are willing to do 70-75% max value. I'm also wondering what kind of paperwork do I need? The thing is I'm planning to borrow some portion of cash from my family member. How does it affect on delayed financing? Additional paperwork? Can I wire some cash from my account and some from family member account directly or tell family member to wire to account first then I can wire all from my account. Any input, recommendation or suggestion would be really appreciated!