Posted by Mark (SDCA) on April 10, 1999 at 17:33:08:
Start soapbox. I agree. This didn’t help at all. Frankly, the ONLY way to grow is to get involved with things you aren’t entirely comfortable with. And if you spend all your time “learning” and none “doing” then you will wake up old and have a million things that you coulda, shoulda woulda done. End soapbox.
As to your problem… it sounds tailor made for creating a note and selling it at the close. If the appraisal supports the LTV you mentioned, that should be no problem. As I recall, the note buyers I spoke to would go 65-70% with no seasoning and no money down. Hope this helps.