100% Financing for SFH "Buy and Hold" - Posted by JPP

Posted by James Strange on September 07, 2003 at 02:31:02:

Most lenders will loan an entity 100%.

But does anyone on your committe have some cash that they can loan the committee? Perhaps they can loan the downpayment for a few years at a rate better than CD rates.

If the committee has 20% or 30% down then they can get reasonable rates when they buy.

James Strange

100% Financing for SFH “Buy and Hold” - Posted by JPP

Posted by JPP on September 05, 2003 at 12:20:41:

I’m on an alumni committee for my college fraternity, and we’re looking at a 4,500 sq ft SFH to purchase as an “annex”.
Home is on 2.5 acres, and we can easily cash flow the 350K purchase price with undergraduate members. We only have 50K as as down payment, but we’d like to do a 100% finance, and hang onto the 50K as a safety net.
Any suggestions?
JPP

Correction - Posted by James Strange

Posted by James Strange on September 07, 2003 at 02:32:24:

I made a mistake in my first line it should have said.

Most lenders will NOT loan an entity 100%.

James Strange