Investor · Baltimore, MD · Member since 2014 · 398 posts · 156 votes
Hello BP fam.
I have analyzed a deal from the front, back, north and south and the numbers make total sense. Now in your Professional and Experienced opinion, how does one go about getting this deal funded? Im only looking to put down 3.5% closing cost and my credit is good around 700. However I can only produce about 20k on paper.
I will list the details below. If I forgot to add any thing please enlighten me to it. How would get this deal funded if this were you scenario?
Denver, CO · Member since 2015 · 251 posts · 123 votes
11y
Maybe someone else will pipe in but I would guess the only way you can even get close to that LTV is to go FHA owner occupied. With 20k income you could qualify if you don't have a lot of other debt. What you aren't going to be able to get is an extra $100k in rehab costs. Your income just won't support it. The only way I see it happening is with a partner. But hopefully someone else here will have a better idea.