Need Advice From Seasoned Investors!

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I want your opinion on financing. For someone that is doing their first deal. If the deal is outstanding. (Financing only 50 to 60% of FMV ) Is it a good idea to finance 100% interest only if I plan to flip as soon as house is repaired? Your reply is greatly appreciated. smile

Comments(2)

  • edmeyer4th June, 2005

    I am slightly confused. You said "Financing only 50-60% of FMV" do you mean contract purchase price at 50-60% of FMV? If so, a lender will look at the smaller of FMV and contract price when making a loan. If this is wide of the mark, please clarify.

  • wbmstrz5th June, 2005

    It was just a hypothetical scenario Giovanini_2, but thanks for the info.

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