Typical LTVs for Turnkey Out of State?
Hi All,
I'm looking at turnkey properties in various states and was wondering what sorts of LTVs people are finding out there. I was able to swing 80% pretty easily here in my home state of Texas (good income, excellent credit), but I seem to recall that banks tend to like more equity from "absentee" investors. Or does being out of state not make a difference, and I should just talk to lots of lenders?
Any thoughts much appreciated here. I'm hoping to find lenders that will do 80% LTV in the cities I'm looking in.
Thanks!
Brian