Updated over 10 years ago on . Most recent reply
Financing buy and hold
What is the best/most efficient way to finance a buy and hold property without having a huge down payment? If anyone could assist based on personal knowledge or prior experiences that would be great!
Most Popular Reply
Word on the street is to pickup units 20%+ below market with private money/hard money; make repairs or increase the value of the property to 100% market value and then refinance into long term financing; this way you hurdle over the lender's threshold for a down payment. You may need some cash to satisfy the initial money but if you plan it right you will get that money back. DISCLAIMER: I've never done this, but I have heard of several who have. Maybe somebody could chime in that's done this successfully. I am hoping to employ this in the next few months.