In need of an investment property lender

Riverside, California
Creative Real Estate Financing
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In need of an investment property lender

Brock Dowis
Investor · Member since 2021 · 204 posts · 124 votes

Does anyone have a lender they would recommend on an investment property purchase. I am looking to do a Sfr ltr. I believe the property will appraise for 50-70k more than purchase price and want To use that equity as part of the down payment. 

Thanks in advance everyone

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Matthew CrivelliBusiness Member
Lender · MA · Member since 2021 · 1k+ posts · 1k+ votes
4y

Would be happy to take a look! If you are buying with built in equity it's best to purchase with a short term loan. This is because you don't have any type of pre-payment penalty to deal with when you go to refinance. (if the objective is to access a some of that equity quickly) @Brock Dowis

[email protected]413-348-8346
Freedom Capital Funding, LLC523 Reviews
WebsiteView Page
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  • Matthew CrivelliBusiness Member
    Lender · MA · Member since 2021 · 1k+ posts · 1k+ votes
    4y

    Would be happy to take a look! If you are buying with built in equity it's best to purchase with a short term loan. This is because you don't have any type of pre-payment penalty to deal with when you go to refinance. (if the objective is to access a some of that equity quickly) @Brock Dowis

    [email protected]413-348-8346
    Freedom Capital Funding, LLC523 Reviews
    WebsiteView Page
    1Reply
  • Andrew Garcia
    Lender · Charlotte, NC · Member since 2022 · 739 posts · 410 votes
    4y

    Hi @Brock Dowis, I know a great lender licensed in CA.

    I have not heard of any lender that will allow equity gaps as a down payment. That would be your biggest issue.

    They are conservative so they will use the lower of the purchase price or the appraised value.

    Hope this helps! Let me know if I can be of any assistance.

    0Reply
  • Blake A. Rivers
    Lender · Boca Raton, FL · Member since 2020 · 36 posts · 14 votes
    4y

    @Brock Dowis 

    There are some private money lenders that are willing to give you 90% of the purchase price but not to exceed the 80% of the as-is value on a bridge loan. If you are looking for 100% financing it would have to be a HML who would offer that option. If the 90% LTV is acceptable I can put you in touch with the shops that do those style loans. Hope this was helpful

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  • Neil DaughertyPro Member
    Hawaii Texas, & Arkansas · Member since 2020 · 5 posts · 3 votes
    4y

    @Blake A. Rivers can you please share the lenders information?

    0Reply
  • Ryan O'Mara
    Financial Advisor · Des Moines, IA · Member since 2017 · 173 posts · 58 votes
    4y

    @Brock Dowis - I work with dozens of lenders (banks, HMLs, DSCR, etc.) and none of them would allow for what you're looking for. Perhaps some private lender out there would. But typically a lender will lend on the lesser of the purchase price or the appraised value. And even then, it's only a percentage. So any way you slice it, you need to have down money.

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