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Benjamin Cowles
  • Cape Coral, FL
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How to get more than 70% financing without conventional or fha

Benjamin Cowles
  • Cape Coral, FL
Posted Aug 8 2016, 21:15

In search to find as much financing possible I'm running into a 70% ltv max. what one should expect to find if they can't qualify for conventional or better right? so what then now?

I'm sure I've read my solution somewhere but my brain only remembers so much. first of all, who funds second loans? people looking to make good returns who trust you? how would that even work especially as I've no track record i wouldn't have much confidence to sell someone on my word. But I don't think I even know anyone who'd be able. 

Is the next logical step to look into how to add more equity to the deal to make the second loan safer? 

Is this basically how it works i.e. say you have under contract a million dollar property under contract for 200k needing 200k rehab you'd get 2nd and 3rd loans all day? 

What other routes can i explore to get those ever-elusive zero to little out pocket financed deals?

Without friends/family or qualifications to get funding >70% ltv, how can I get at least another 15% ltv covered on top of that 70% or all together? 

Just keep searching for that motivated enough seller? just trying to fish for ideas i may have missed so far. thanks

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