- This topic has 40 replies, 8 voices, and was last updated 15 years, 5 months ago by
Sandiagon.
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January 21, 2009 at 4:43 PM #14875January 21, 2009 at 4:59 PM #332661
barnaby33
ParticipantI would think membership in the community would require being here longer than 19 minutes and 24 seconds, but hey maybe the other posters you mentioned will chip in.
JoshJanuary 21, 2009 at 4:59 PM #333189barnaby33
ParticipantI would think membership in the community would require being here longer than 19 minutes and 24 seconds, but hey maybe the other posters you mentioned will chip in.
JoshJanuary 21, 2009 at 4:59 PM #332997barnaby33
ParticipantI would think membership in the community would require being here longer than 19 minutes and 24 seconds, but hey maybe the other posters you mentioned will chip in.
JoshJanuary 21, 2009 at 4:59 PM #333105barnaby33
ParticipantI would think membership in the community would require being here longer than 19 minutes and 24 seconds, but hey maybe the other posters you mentioned will chip in.
JoshJanuary 21, 2009 at 4:59 PM #333076barnaby33
ParticipantI would think membership in the community would require being here longer than 19 minutes and 24 seconds, but hey maybe the other posters you mentioned will chip in.
JoshJanuary 21, 2009 at 5:25 PM #3326824plexowner
ParticipantI think you are describing a situation where only a cash buyer has a chance of closing escrow
Hard to imagine that any loan underwriter is going to sign off on this deal
Pretty sweet if you are in a position to purchase for cash – but remember that when buying with cash you get a HUGE discount or you don’t buy with cash
Being able to buy with cash basically lets you be an asshole and say something like, “I’ll pay 65% of your asking price and we’ll close escrow in 14 days, take it or leave it”
Since the seller can’t sell to anyone but a cash buyer, they have very few options
January 21, 2009 at 5:25 PM #3332084plexowner
ParticipantI think you are describing a situation where only a cash buyer has a chance of closing escrow
Hard to imagine that any loan underwriter is going to sign off on this deal
Pretty sweet if you are in a position to purchase for cash – but remember that when buying with cash you get a HUGE discount or you don’t buy with cash
Being able to buy with cash basically lets you be an asshole and say something like, “I’ll pay 65% of your asking price and we’ll close escrow in 14 days, take it or leave it”
Since the seller can’t sell to anyone but a cash buyer, they have very few options
January 21, 2009 at 5:25 PM #3331264plexowner
ParticipantI think you are describing a situation where only a cash buyer has a chance of closing escrow
Hard to imagine that any loan underwriter is going to sign off on this deal
Pretty sweet if you are in a position to purchase for cash – but remember that when buying with cash you get a HUGE discount or you don’t buy with cash
Being able to buy with cash basically lets you be an asshole and say something like, “I’ll pay 65% of your asking price and we’ll close escrow in 14 days, take it or leave it”
Since the seller can’t sell to anyone but a cash buyer, they have very few options
January 21, 2009 at 5:25 PM #3330174plexowner
ParticipantI think you are describing a situation where only a cash buyer has a chance of closing escrow
Hard to imagine that any loan underwriter is going to sign off on this deal
Pretty sweet if you are in a position to purchase for cash – but remember that when buying with cash you get a HUGE discount or you don’t buy with cash
Being able to buy with cash basically lets you be an asshole and say something like, “I’ll pay 65% of your asking price and we’ll close escrow in 14 days, take it or leave it”
Since the seller can’t sell to anyone but a cash buyer, they have very few options
January 21, 2009 at 5:25 PM #3330974plexowner
ParticipantI think you are describing a situation where only a cash buyer has a chance of closing escrow
Hard to imagine that any loan underwriter is going to sign off on this deal
Pretty sweet if you are in a position to purchase for cash – but remember that when buying with cash you get a HUGE discount or you don’t buy with cash
Being able to buy with cash basically lets you be an asshole and say something like, “I’ll pay 65% of your asking price and we’ll close escrow in 14 days, take it or leave it”
Since the seller can’t sell to anyone but a cash buyer, they have very few options
January 21, 2009 at 6:49 PM #333152Kingside
ParticipantWill the numbers still work if you get a hard money lender at higher rates and fees instead of conventional financing? If you have a hard money lender lined up who you develop a relationship with, you could approach sellers as effectively offering cash to get discounts, and then refinance to conventional when conditions permit. Obviously there are risks with assuming this will happen. So be sure of your numbers and assumptions.
As a practical matter, I think a hard money lender is the only hands on decision making lender you will find that will be there for final say on loan approvals for investment property in the current lending climate.
January 21, 2009 at 6:49 PM #333266Kingside
ParticipantWill the numbers still work if you get a hard money lender at higher rates and fees instead of conventional financing? If you have a hard money lender lined up who you develop a relationship with, you could approach sellers as effectively offering cash to get discounts, and then refinance to conventional when conditions permit. Obviously there are risks with assuming this will happen. So be sure of your numbers and assumptions.
As a practical matter, I think a hard money lender is the only hands on decision making lender you will find that will be there for final say on loan approvals for investment property in the current lending climate.
January 21, 2009 at 6:49 PM #333181Kingside
ParticipantWill the numbers still work if you get a hard money lender at higher rates and fees instead of conventional financing? If you have a hard money lender lined up who you develop a relationship with, you could approach sellers as effectively offering cash to get discounts, and then refinance to conventional when conditions permit. Obviously there are risks with assuming this will happen. So be sure of your numbers and assumptions.
As a practical matter, I think a hard money lender is the only hands on decision making lender you will find that will be there for final say on loan approvals for investment property in the current lending climate.
January 21, 2009 at 6:49 PM #333072Kingside
ParticipantWill the numbers still work if you get a hard money lender at higher rates and fees instead of conventional financing? If you have a hard money lender lined up who you develop a relationship with, you could approach sellers as effectively offering cash to get discounts, and then refinance to conventional when conditions permit. Obviously there are risks with assuming this will happen. So be sure of your numbers and assumptions.
As a practical matter, I think a hard money lender is the only hands on decision making lender you will find that will be there for final say on loan approvals for investment property in the current lending climate.
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