Posted by Ed Garcia on March 07, 2001 at 09:30:01:
The two you just mentioned are a must. Also because were investors, we can demonstrate to the bank that we have purchased the property with built in equity. In some cases if the property is commercial or multiple units, I can show the bank that the property has below market rents and is a candidate for rent increases which will increase the value of the subject property as just one example. Upside can be demonstrated to the bank. It’s important that the bank sees what I see in the deal.
Most of your mortgage companies on 1 to 4 units will allow you to do a 95% CLTV in just about anything. I say that because the majority of mortgage companies have sub-prime outlets, or sources.