Suggestions on how to finance next deal

[Brice Perry]

Hello 

This year my wife and I started our real estate journey. We have one house that is being renovated currently and closed this week on two townhomes. We used a private lender to purchase the first house. For the townhomes, we were able to qualify for traditional financing and pulled a HELOC on our primary residence for the down payments. The townhomes are turn-key with tenants already in place. I have a lead on an off market deal through a friend but I am stumped on how to get financing for this deal. Any ideas would be greatly appreciated. Thanks in advance.

[Eliott Elias]

Leverage the market and your money. Get into creative finance, nothing down seller finance with a good interest rate. 

[Terrell Garren]

On the other hand, this not a good time to rush into too much debt too fast. 

[David M.]

@Brice Perry

well, I know this is a public forum, but with just about no information about your financial situation, I'm not sure how to assist...  go back to your private lender from the first house???

[Rachel Romero]

Quote from @Brice Perry:

Hello 

This year my wife and I started our real estate journey. We have one house that is being renovated currently and closed this week on two townhomes. We used a private lender to purchase the first house. For the townhomes, we were able to qualify for traditional financing and pulled a HELOC on our primary residence for the down payments. The townhomes are turn-key with tenants already in place. I have a lead on an off market deal through a friend but I am stumped on how to get financing for this deal. Any ideas would be greatly appreciated. Thanks in advance.

Congratulations! You can usually get DSCR loans Google that for your area - pm if need more details 

[Wale Lawal]

@Brice Perry

SDIRAs for Real Estate
An SDIRA may be a good option for purchasing real estate for investors who have a significant amount of savings in a retirement account. A SDIRA for real estate is created by transferring a traditional retirement plan, like a 401(k) or SEP IRA into an SDIRA. Funds in the SDIRA may be used to purchase real estate and for the down payment of a non-recourse loan.

When using an SDIRA to purchase real estate, investors should ensure there are sufficient funds within the retirement account to pay for any needed capital repairs or operating expenses during periods of negative cash flow.

Home equity loan and HELOCs
Home equity loans and home equity lines of credit (HELOCs) are 2 ways of borrowing against the equity in an existing property without having to sell. As a rule of thumb, an investor may be able to borrow about 80% of the equity in a home to raise funds for the purchase or down payment of a rental property, or to make renovations or repairs.

For example, if a home has a market value of $350,000 and the mortgage balance is $200,000, an owner may be able to borrow about $120,000 ($350,000 home value - $200,000 mortgage balance = $120,000 equity x 80%).

A HELOC is a line of credit against the equity in a home and is used to access equity when and if an investor needs it. HELOCs work similar to credit cards, with any borrowed funds repaid with periodic payments of principal and interest (P&I).

Private money lender
Private money lenders are typically business people or other real estate investors who prefer to invest in real estate debt rather than equity. A private lender makes money by collecting fees and interest on funds loaned to a borrower. An investor who can’t qualify for a traditional loan or is looking for creative financing options may find a private money lender to be a good option to consider.

Hard money loan
Hard money loans are intended for borrowers looking to raise funds fast for a short-term loan. Interest rates and fees are typically higher than other sources for financing real estate but may be a good match for a borrower with poor credit or an investor seeking flexible loan terms.

Portfolio loan
A portfolio loan is a mortgage that is held by a lender instead of being sold on the secondary mortgage market, as conventional loans usually are. Because a lender holds a portfolio loan on its own books, down payment amounts and loan terms may be more flexible, with stricter qualifying standards, although interest rates and fees may be higher.

Blanket mortgage
A blanket mortgage is a single loan used to finance multiple properties, with the individual assets serving as collateral for one another. Blanket mortgages generally have a release clause, which allows a borrower to sell a property and pay off the property’s share of the outstanding loan balance without having to refinance the remaining properties.

Limited liability company
Limited liability companies (LLCs) are another option for financing real estate. Rather than owning real estate directly, the LLC owns the property and investors own membership shares of the LLC. Depending on how the LLC is structured, members may loan money to the LLC in exchange for P&I payments, or invest in equity and share a percentage of any net operating income and profits made when the property is sold.

Owner financing
Sometimes sellers who own a property outright, or with a small outstanding mortgage balance, are willing to provide owner financing. Rather than receiving a lump sum payment from a buyer, a seller acts as a bank and receives a down payment plus installment payments of P&I from the borrower. Any existing loan must be paid off before seller financing can occur, unless the existing loan has an assumption clause.

Good luck!

[Don Konipol]

@Wale Lawal just about covered all the financing options.  However, there are two major decisions to be made.  One has to do with clearly defining your goal(s), your plan to get there, and the amount of risk you’re willing to take.  For example when I started investing in real property in my 20s I was more than willing to take on high risk situations, often shooting for very high leverage figuring I had relatively little to lose and that I could always start over.  By the time I was in my late 30s and 40s I had modified my risk parameters and only participated in higher risk deals when the downside was limited to a small portion of my invested capital.  Now, I’ll invest no more than 5% of my capital in any one deal, and utilize leverage only when I have no personal liability.  

The second major decision is related to the first; is your goal to invest in real estate as a sideline to your job or “regular” business, or to have real estate investing replace your main economic revenue generator?  This will be a determining factor as to how fast you want to grow, the amount of leverage you’ll need to use, the types of deals to pursue, the amount of capital to invest, and whether to bring in equity partners through syndicating real property investment or stick to investments where you maintain full ownership.

[Brice Perry]

Quote from @Don Konipol:

@Wale Lawal just about covered all the financing options.  However, there are two major decisions to be made.  One has to do with clearly defining your goal(s), your plan to get there, and the amount of risk you’re willing to take.  For example when I started investing in real property in my 20s I was more than willing to take on high risk situations, often shooting for very high leverage figuring I had relatively little to lose and that I could always start over.  By the time I was in my late 30s and 40s I had modified my risk parameters and only participated in higher risk deals when the downside was limited to a small portion of my invested capital.  Now, I’ll invest no more than 5% of my capital in any one deal, and utilize leverage only when I have no personal liability.  

The second major decision is related to the first; is your goal to invest in real estate as a sideline to your job or “regular” business, or to have real estate investing replace your main economic revenue generator?  This will be a determining factor as to how fast you want to grow, the amount of leverage you’ll need to use, the types of deals to pursue, the amount of capital to invest, and whether to bring in equity partners through syndicating real property investment or stick to investments where you maintain full ownership.

Thank you. Great things to think about. 

[Brice Perry]

Quote from @Wale Lawal:

@Brice Perry

SDIRAs for Real Estate
An SDIRA may be a good option for purchasing real estate for investors who have a significant amount of savings in a retirement account. A SDIRA for real estate is created by transferring a traditional retirement plan, like a 401(k) or SEP IRA into an SDIRA. Funds in the SDIRA may be used to purchase real estate and for the down payment of a non-recourse loan.

When using an SDIRA to purchase real estate, investors should ensure there are sufficient funds within the retirement account to pay for any needed capital repairs or operating expenses during periods of negative cash flow.

Home equity loan and HELOCs
Home equity loans and home equity lines of credit (HELOCs) are 2 ways of borrowing against the equity in an existing property without having to sell. As a rule of thumb, an investor may be able to borrow about 80% of the equity in a home to raise funds for the purchase or down payment of a rental property, or to make renovations or repairs.

For example, if a home has a market value of $350,000 and the mortgage balance is $200,000, an owner may be able to borrow about $120,000 ($350,000 home value - $200,000 mortgage balance = $120,000 equity x 80%).

A HELOC is a line of credit against the equity in a home and is used to access equity when and if an investor needs it. HELOCs work similar to credit cards, with any borrowed funds repaid with periodic payments of principal and interest (P&I).

Private money lender
Private money lenders are typically business people or other real estate investors who prefer to invest in real estate debt rather than equity. A private lender makes money by collecting fees and interest on funds loaned to a borrower. An investor who can’t qualify for a traditional loan or is looking for creative financing options may find a private money lender to be a good option to consider.

Hard money loan
Hard money loans are intended for borrowers looking to raise funds fast for a short-term loan. Interest rates and fees are typically higher than other sources for financing real estate but may be a good match for a borrower with poor credit or an investor seeking flexible loan terms.

Portfolio loan
A portfolio loan is a mortgage that is held by a lender instead of being sold on the secondary mortgage market, as conventional loans usually are. Because a lender holds a portfolio loan on its own books, down payment amounts and loan terms may be more flexible, with stricter qualifying standards, although interest rates and fees may be higher.

Blanket mortgage
A blanket mortgage is a single loan used to finance multiple properties, with the individual assets serving as collateral for one another. Blanket mortgages generally have a release clause, which allows a borrower to sell a property and pay off the property’s share of the outstanding loan balance without having to refinance the remaining properties.

Limited liability company
Limited liability companies (LLCs) are another option for financing real estate. Rather than owning real estate directly, the LLC owns the property and investors own membership shares of the LLC. Depending on how the LLC is structured, members may loan money to the LLC in exchange for P&I payments, or invest in equity and share a percentage of any net operating income and profits made when the property is sold.

Owner financing
Sometimes sellers who own a property outright, or with a small outstanding mortgage balance, are willing to provide owner financing. Rather than receiving a lump sum payment from a buyer, a seller acts as a bank and receives a down payment plus installment payments of P&I from the borrower. Any existing loan must be paid off before seller financing can occur, unless the existing loan has an assumption clause.

Good luck!

 Thanks for the break down. I think this next house I have decided to try owner financing. We’ll see if I can pull it off. 

[Matthew McKee]

Quote from @Wale Lawal:

@Brice Perry

SDIRAs for Real Estate
An SDIRA may be a good option for purchasing real estate for investors who have a significant amount of savings in a retirement account. A SDIRA for real estate is created by transferring a traditional retirement plan, like a 401(k) or SEP IRA into an SDIRA. Funds in the SDIRA may be used to purchase real estate and for the down payment of a non-recourse loan.

When using an SDIRA to purchase real estate, investors should ensure there are sufficient funds within the retirement account to pay for any needed capital repairs or operating expenses during periods of negative cash flow.

Home equity loan and HELOCs
Home equity loans and home equity lines of credit (HELOCs) are 2 ways of borrowing against the equity in an existing property without having to sell. As a rule of thumb, an investor may be able to borrow about 80% of the equity in a home to raise funds for the purchase or down payment of a rental property, or to make renovations or repairs.

For example, if a home has a market value of $350,000 and the mortgage balance is $200,000, an owner may be able to borrow about $120,000 ($350,000 home value - $200,000 mortgage balance = $120,000 equity x 80%).

A HELOC is a line of credit against the equity in a home and is used to access equity when and if an investor needs it. HELOCs work similar to credit cards, with any borrowed funds repaid with periodic payments of principal and interest (P&I).

Private money lender
Private money lenders are typically business people or other real estate investors who prefer to invest in real estate debt rather than equity. A private lender makes money by collecting fees and interest on funds loaned to a borrower. An investor who can’t qualify for a traditional loan or is looking for creative financing options may find a private money lender to be a good option to consider.

Hard money loan
Hard money loans are intended for borrowers looking to raise funds fast for a short-term loan. Interest rates and fees are typically higher than other sources for financing real estate but may be a good match for a borrower with poor credit or an investor seeking flexible loan terms.

Portfolio loan
A portfolio loan is a mortgage that is held by a lender instead of being sold on the secondary mortgage market, as conventional loans usually are. Because a lender holds a portfolio loan on its own books, down payment amounts and loan terms may be more flexible, with stricter qualifying standards, although interest rates and fees may be higher.

Blanket mortgage
A blanket mortgage is a single loan used to finance multiple properties, with the individual assets serving as collateral for one another. Blanket mortgages generally have a release clause, which allows a borrower to sell a property and pay off the property’s share of the outstanding loan balance without having to refinance the remaining properties.

Limited liability company
Limited liability companies (LLCs) are another option for financing real estate. Rather than owning real estate directly, the LLC owns the property and investors own membership shares of the LLC. Depending on how the LLC is structured, members may loan money to the LLC in exchange for P&I payments, or invest in equity and share a percentage of any net operating income and profits made when the property is sold.

Owner financing
Sometimes sellers who own a property outright, or with a small outstanding mortgage balance, are willing to provide owner financing. Rather than receiving a lump sum payment from a buyer, a seller acts as a bank and receives a down payment plus installment payments of P&I from the borrower. Any existing loan must be paid off before seller financing can occur, unless the existing loan has an assumption clause.

Good luck!

 This is a phenomenal breakdown

[Matthew McKee]

Quote from @Brice Perry:

Quote from @Wale Lawal:

@Brice Perry

SDIRAs for Real Estate
An SDIRA may be a good option for purchasing real estate for investors who have a significant amount of savings in a retirement account. A SDIRA for real estate is created by transferring a traditional retirement plan, like a 401(k) or SEP IRA into an SDIRA. Funds in the SDIRA may be used to purchase real estate and for the down payment of a non-recourse loan.

When using an SDIRA to purchase real estate, investors should ensure there are sufficient funds within the retirement account to pay for any needed capital repairs or operating expenses during periods of negative cash flow.

Home equity loan and HELOCs
Home equity loans and home equity lines of credit (HELOCs) are 2 ways of borrowing against the equity in an existing property without having to sell. As a rule of thumb, an investor may be able to borrow about 80% of the equity in a home to raise funds for the purchase or down payment of a rental property, or to make renovations or repairs.

For example, if a home has a market value of $350,000 and the mortgage balance is $200,000, an owner may be able to borrow about $120,000 ($350,000 home value - $200,000 mortgage balance = $120,000 equity x 80%).

A HELOC is a line of credit against the equity in a home and is used to access equity when and if an investor needs it. HELOCs work similar to credit cards, with any borrowed funds repaid with periodic payments of principal and interest (P&I).

Private money lender
Private money lenders are typically business people or other real estate investors who prefer to invest in real estate debt rather than equity. A private lender makes money by collecting fees and interest on funds loaned to a borrower. An investor who can’t qualify for a traditional loan or is looking for creative financing options may find a private money lender to be a good option to consider.

Hard money loan
Hard money loans are intended for borrowers looking to raise funds fast for a short-term loan. Interest rates and fees are typically higher than other sources for financing real estate but may be a good match for a borrower with poor credit or an investor seeking flexible loan terms.

Portfolio loan
A portfolio loan is a mortgage that is held by a lender instead of being sold on the secondary mortgage market, as conventional loans usually are. Because a lender holds a portfolio loan on its own books, down payment amounts and loan terms may be more flexible, with stricter qualifying standards, although interest rates and fees may be higher.

Blanket mortgage
A blanket mortgage is a single loan used to finance multiple properties, with the individual assets serving as collateral for one another. Blanket mortgages generally have a release clause, which allows a borrower to sell a property and pay off the property’s share of the outstanding loan balance without having to refinance the remaining properties.

Limited liability company
Limited liability companies (LLCs) are another option for financing real estate. Rather than owning real estate directly, the LLC owns the property and investors own membership shares of the LLC. Depending on how the LLC is structured, members may loan money to the LLC in exchange for P&I payments, or invest in equity and share a percentage of any net operating income and profits made when the property is sold.

Owner financing
Sometimes sellers who own a property outright, or with a small outstanding mortgage balance, are willing to provide owner financing. Rather than receiving a lump sum payment from a buyer, a seller acts as a bank and receives a down payment plus installment payments of P&I from the borrower. Any existing loan must be paid off before seller financing can occur, unless the existing loan has an assumption clause.

Good luck!

 Thanks for the break down. I think this next house I have decided to try owner financing. We’ll see if I can pull it off. 

A great resource to help guide you through effective communication tactics is Never Split the Difference by Chris Voss 

[Nate Sanow]

Quote from @Terrell Garren:

On the other hand, this not a good time to rush into too much debt too fast. 

 This is good advice and might be the best response.

[Alex Breshears]

I'm going to suggest a few things before diving into another property if the current ones are new acquisitions.  Right now, do you have enough in reserves to cover a major repair? An eviction? A tenant not paying for several months in a row? If the answer is no, then make that your first priority. No investor ever got turned down for a loan by having too much in liquid reserves.  As lenders, the biggest reason loans go into default is non-payment, for whatever reason. While this isn't the only reason a loan can do into default, it is also the easiest one to quantify for lenders and borrowers, which is a major reason there is such an emphasis on this aspect. If you have a lender that doesn't care about reserves, then it is likely a really low loan to value, short loan term, or very high rates because of the perceived risk of not asking/verifying assets to back up the loan.  

If you do have sufficient reserves for both your household and your investment properties already in your portfolio, then the next question becomes does this new acquisition fit your goals? Does it get you closer to that goal? other than financial commitment, what level of time commitment will it require? How much mental brain damage will you have to endure to both acquire, but more importantly keep it? A lot of investors really focus on the "getting" the property, and few think about "keeping" the property, when that is the plan you really need to worry about.  Depending on what the property is, how much renovation it may need, the income the property may generate and when it will generate that income, that will really shape whether this is a good acquisition for you specifically.

[Brice Perry]

Quote from @Alex Breshears:

I'm going to suggest a few things before diving into another property if the current ones are new acquisitions.  Right now, do you have enough in reserves to cover a major repair? An eviction? A tenant not paying for several months in a row? If the answer is no, then make that your first priority. No investor ever got turned down for a loan by having too much in liquid reserves.  As lenders, the biggest reason loans go into default is non-payment, for whatever reason. While this isn't the only reason a loan can do into default, it is also the easiest one to quantify for lenders and borrowers, which is a major reason there is such an emphasis on this aspect. If you have a lender that doesn't care about reserves, then it is likely a really low loan to value, short loan term, or very high rates because of the perceived risk of not asking/verifying assets to back up the loan.  

If you do have sufficient reserves for both your household and your investment properties already in your portfolio, then the next question becomes does this new acquisition fit your goals? Does it get you closer to that goal? other than financial commitment, what level of time commitment will it require? How much mental brain damage will you have to endure to both acquire, but more importantly keep it? A lot of investors really focus on the "getting" the property, and few think about "keeping" the property, when that is the plan you really need to worry about.  Depending on what the property is, how much renovation it may need, the income the property may generate and when it will generate that income, that will really shape whether this is a good acquisition for you specifically.

 Good train of thought. Thanks you 

[Eliott Elias]

Try to get creative with the financing, wether it's seller financing for a short period of time with the seller or giving up some equity for the capital 

[Wale Lawal]

Quote from @Matthew McKee:

Quote from @Wale Lawal:

@Brice Perry

SDIRAs for Real Estate
An SDIRA may be a good option for purchasing real estate for investors who have a significant amount of savings in a retirement account. A SDIRA for real estate is created by transferring a traditional retirement plan, like a 401(k) or SEP IRA into an SDIRA. Funds in the SDIRA may be used to purchase real estate and for the down payment of a non-recourse loan.

When using an SDIRA to purchase real estate, investors should ensure there are sufficient funds within the retirement account to pay for any needed capital repairs or operating expenses during periods of negative cash flow.

Home equity loan and HELOCs
Home equity loans and home equity lines of credit (HELOCs) are 2 ways of borrowing against the equity in an existing property without having to sell. As a rule of thumb, an investor may be able to borrow about 80% of the equity in a home to raise funds for the purchase or down payment of a rental property, or to make renovations or repairs.

For example, if a home has a market value of $350,000 and the mortgage balance is $200,000, an owner may be able to borrow about $120,000 ($350,000 home value - $200,000 mortgage balance = $120,000 equity x 80%).

A HELOC is a line of credit against the equity in a home and is used to access equity when and if an investor needs it. HELOCs work similar to credit cards, with any borrowed funds repaid with periodic payments of principal and interest (P&I).

Private money lender
Private money lenders are typically business people or other real estate investors who prefer to invest in real estate debt rather than equity. A private lender makes money by collecting fees and interest on funds loaned to a borrower. An investor who can’t qualify for a traditional loan or is looking for creative financing options may find a private money lender to be a good option to consider.

Hard money loan
Hard money loans are intended for borrowers looking to raise funds fast for a short-term loan. Interest rates and fees are typically higher than other sources for financing real estate but may be a good match for a borrower with poor credit or an investor seeking flexible loan terms.

Portfolio loan
A portfolio loan is a mortgage that is held by a lender instead of being sold on the secondary mortgage market, as conventional loans usually are. Because a lender holds a portfolio loan on its own books, down payment amounts and loan terms may be more flexible, with stricter qualifying standards, although interest rates and fees may be higher.

Blanket mortgage
A blanket mortgage is a single loan used to finance multiple properties, with the individual assets serving as collateral for one another. Blanket mortgages generally have a release clause, which allows a borrower to sell a property and pay off the property’s share of the outstanding loan balance without having to refinance the remaining properties.

Limited liability company
Limited liability companies (LLCs) are another option for financing real estate. Rather than owning real estate directly, the LLC owns the property and investors own membership shares of the LLC. Depending on how the LLC is structured, members may loan money to the LLC in exchange for P&I payments, or invest in equity and share a percentage of any net operating income and profits made when the property is sold.

Owner financing
Sometimes sellers who own a property outright, or with a small outstanding mortgage balance, are willing to provide owner financing. Rather than receiving a lump sum payment from a buyer, a seller acts as a bank and receives a down payment plus installment payments of P&I from the borrower. Any existing loan must be paid off before seller financing can occur, unless the existing loan has an assumption clause.

Good luck!

 This is a phenomenal breakdown

 My pleasure, keep learning and growing!

[Wale Lawal]

Quote from @Brice Perry:

Quote from @Wale Lawal:

@Brice Perry

SDIRAs for Real Estate
An SDIRA may be a good option for purchasing real estate for investors who have a significant amount of savings in a retirement account. A SDIRA for real estate is created by transferring a traditional retirement plan, like a 401(k) or SEP IRA into an SDIRA. Funds in the SDIRA may be used to purchase real estate and for the down payment of a non-recourse loan.

When using an SDIRA to purchase real estate, investors should ensure there are sufficient funds within the retirement account to pay for any needed capital repairs or operating expenses during periods of negative cash flow.

Home equity loan and HELOCs
Home equity loans and home equity lines of credit (HELOCs) are 2 ways of borrowing against the equity in an existing property without having to sell. As a rule of thumb, an investor may be able to borrow about 80% of the equity in a home to raise funds for the purchase or down payment of a rental property, or to make renovations or repairs.

For example, if a home has a market value of $350,000 and the mortgage balance is $200,000, an owner may be able to borrow about $120,000 ($350,000 home value - $200,000 mortgage balance = $120,000 equity x 80%).

A HELOC is a line of credit against the equity in a home and is used to access equity when and if an investor needs it. HELOCs work similar to credit cards, with any borrowed funds repaid with periodic payments of principal and interest (P&I).

Private money lender
Private money lenders are typically business people or other real estate investors who prefer to invest in real estate debt rather than equity. A private lender makes money by collecting fees and interest on funds loaned to a borrower. An investor who can’t qualify for a traditional loan or is looking for creative financing options may find a private money lender to be a good option to consider.

Hard money loan
Hard money loans are intended for borrowers looking to raise funds fast for a short-term loan. Interest rates and fees are typically higher than other sources for financing real estate but may be a good match for a borrower with poor credit or an investor seeking flexible loan terms.

Portfolio loan
A portfolio loan is a mortgage that is held by a lender instead of being sold on the secondary mortgage market, as conventional loans usually are. Because a lender holds a portfolio loan on its own books, down payment amounts and loan terms may be more flexible, with stricter qualifying standards, although interest rates and fees may be higher.

Blanket mortgage
A blanket mortgage is a single loan used to finance multiple properties, with the individual assets serving as collateral for one another. Blanket mortgages generally have a release clause, which allows a borrower to sell a property and pay off the property’s share of the outstanding loan balance without having to refinance the remaining properties.

Limited liability company
Limited liability companies (LLCs) are another option for financing real estate. Rather than owning real estate directly, the LLC owns the property and investors own membership shares of the LLC. Depending on how the LLC is structured, members may loan money to the LLC in exchange for P&I payments, or invest in equity and share a percentage of any net operating income and profits made when the property is sold.

Owner financing
Sometimes sellers who own a property outright, or with a small outstanding mortgage balance, are willing to provide owner financing. Rather than receiving a lump sum payment from a buyer, a seller acts as a bank and receives a down payment plus installment payments of P&I from the borrower. Any existing loan must be paid off before seller financing can occur, unless the existing loan has an assumption clause.

Good luck!

 Thanks for the break down. I think this next house I have decided to try owner financing. We’ll see if I can pull it off. 

For sellers, financing the buyer’s mortgage can make it much easier to sell a house. During a down real estate market, and when credit is tight, buyers may prefer seller financing. Moreover, sellers can expect to get a premium for offering to finance, meaning they are more likely to get their asking price in a buyer’s market.

Seller financing rises and falls in popularity along with the overall tightness of the credit market. During times when banks are risk-averse and reluctant to lend money to any but the most creditworthy borrowers, seller financing can make it possible for many more people to buy homes. Seller financing may also make it easier to sell a home. Conversely, when the credit markets are loose, and banks are enthusiastically lending money, seller financing has less appeal.

[Dave Skow]

@Brice Perry- you should be able to locate a 85% lltv from most lenders ....do you have any heloc balance left you can use ? if not- can you increase the HELOC amount ...other avenues for down payment funds : 401K ,,,you cant use gift funds for down payment on rentals ....savings