Updated about 9 years ago on . Most recent reply
Down payment
I'm trying to get a property and need a down payment of 200000. this is a very very good investment but don't have the cash to get it started. The payments are not a problem it is just the initial downpayment.
My home is valued at 600k and I owe 499,000.
we are under construction of a new home and keeping the existing structure as a rental.
Once completed the broker appraised the sale price at 1.1million.
With this I can not get an equity loan as the construction is not complete.
How do I get a 200k deposit? I have a full business plan and should be able to pay all proceeds back into the new property after sale of the new house.