Posted by RR Smith on February 11, 2000 at 06:06:38:
I guess you don’t have the Sheets course or have had time to read the posts… This very question is covered to dead in both sources, even the best terms and LTV of different sources of funding…so please do your homework…
Is there a way investors can get 100% funding? - Posted by Paul Jones
Posted by Paul Jones on February 10, 2000 at 22:44:04:
I am dealing with a pretty good private investor. he is willing to Give me 80% on investment property…How can I get 100%?
Re: Is there a way investors can get 100% funding? Yes… - Posted by Ed Garcia
Posted by Ed Garcia on February 11, 2000 at 08:57:44:
Paul:
There are many ways you could do it, but the obvious way is with a SELLER CARRY BACK.
I’m going to use a number of $100K because it’s an easy number to work with.
First, try to find a property where the seller doesn’t owe that much on the property.
For example:
If a property is worth $100k, and you buy it for lets say $75k. And lets say the owner
owes $30k. Now this is just a ball park set of numbers that I’m giving you, to give you a feel for
what were talking about. 80% of $75k is $60k. So your loan amount would be $60k, and you
would get the seller to carry back the difference of $15k.
When the transaction is completed, you have financed it at 100%, the seller carried back
$15k and received $30k new money. You would have a first of $60k, a second of $15k.
Ed Garcia