Financing buy and hold

[Jeff Pagano]

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!

[Jared Anderson]

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.