Posted by John B. Corey Jr. on August 22, 2005 at 17:31:01:
Borrowing the down payment is not easy.
Try a signature loan or similar using a credit card. For a signature loan go to a finance company (Household Finance). Credit unions and if you are well established at your bank they may agree. They are less likely to do so if you say it is for RE. Better to say it is a business expense as you want to buy some asset.
You can use hard money if the value is high enough compared to the sale price. 100% of the purchase price can work using hard money.
Not sure you will be able to refinance quickly at anything more then the sale price. Most lenders will use the lower of the sale price or value in the 1st 6 to 12 months on a refi.
Chelsea Private Equity LLC