I am relatively new to real estate investing, however I have had Deans 'think a little different' course for a year or so. When I got it, the market was up and most definitely hot. Now, as the market is down, and may go lower, my question is this.
I have seen several properties on the market in several areas, however they require preapprovals from banks. I want to make offers, yet the mortgage brokers say they need 20% down payments in order to make offers. Can I tell them yes I have the 20% down based on my 40-50% offers on FMV ?
Or, should I steer clear of such deals.
Lastly, where can I locate hard money mortgage brokers?