Financing and Credit

Does anyone know how hard it is to finance an investment property after paying cash. I have a buyer that has cash for deals but doesn't want his cash tied up for years if he can refinance/get a mortgage. Can someone please explain to me what exactly his options are after he pays cash for a deal? Thank you very much!

Lending such large amounts of money is a risky business for banks, and that money isn't handed over to just anyone. If your home ownership dreams have been rudely awakened by loan officers denying your application, it's time to take control of your situation and learn what you can do to turn that rejection into an approval.
What Are Your Options?
Everyone's financial situation is unique and different. With that in mind, here are six different options for making your homeownership dreams a reality.
Get a Co-signer

Anyone who has some insight or resources to go to for this - you are a life saver.

I have a home value $105k that the owner will deed over to me. He only owes $31k on the property. I would like to refinance it taking cash out so the mortgage is 60-65K. That leaves it still sitting at 65% LTV.

The stumbling block is the seasoning on the title to do the refinance. Does anyone have a good resource for no-seasoning refinance. Is there another better way to go about this such as a purchase? I have no down payment - it would have to come out of the equity somehow.

Thanks so much - this site is a fantastic resource with wonderful, helpful people.

Congress Extends Homebuyer Tax Credit Deadline to September 30

PR Newswire

SAN JOSE, Calif., July 2 /PRNewswire/ -- Congress approved a bill Wednesday that gives homebuyers until September 30 to complete their transaction to qualify for as much as $8,000 in federal tax credit. Under the original terms before the legislation, the tax incentive applied to those who signed the contract by April 30 and closed the sale by June 30.

Please Help!!

Please Help!!

Does anyone know if any lenders offer HELOCs on non-owner occupied, single family homes? If so, what is the max LTV?

Thanks!

A happy 4th of July to our DG family and friends. I am sitting in our office on this beautiful Saturday morning going thru the new posts and pm's. I noticed I received a pm from a new DG member username vivian. I read thru the post and almost fell out of my chair laughing.

The pm is from a woman in Africa who inherited a huge sum of money from her father and picked me to invest it for her and also offers a 10% commission to boot!!

Now Jeremy and I like to consider ourselves pretty savy investors and for sure have had our share of ups and downs, but for sure we are not Dean Graziosi, Donald Trump and the rest of the best known investors in the world.

Hello everybody. We are just starting in this business and have a lot of questions. There a lot of good deals
in short sales, but most of the banks
even for cash transactions require proof of funds with the offer. So the question is how can we make an offer without the cash and later assign to another investor? Thank You in advance for any help You can give us.
jane.

How exactly do lease options work ?