Posted by dell-ohio on August 25, 2003 at 15:26:24:
Options as I see them.
- Pay all cash
- Get an individual to loan you the money and hold a first mortgage.
- If it is a good deal you can partner with someone
- Get a loan from a bank. This is what we are doing now. We use a local commercial bank 80% financed and use equity in another property for the down payment.
- Limited experience in this area, buy I dont see why it should be much different than borrowing money for any other house.
6 I understand that if you have good credit sometimes the bank will finance you for the property, doesnt hurt to ask.