Financing an installment sale

Financing an installment sale

If I can purchase a home to live in from someone on a land contract with no money down, how hard is it to go to the bank and get a home equity loan on that property? Here is the situation:

Purchase home from parents for $80,000 (to live in)on land contract.

Get loan from bank for $45-50K against the property.

Pay off my car and some credit cards: $25,000 approx

Use rest for money down on some other investment properties.

Payment will now be alot less than my current car and credit card payments.

What do I need to do to accomplish this?

Thanks for any help you can give me!




Do you think once you have a loan against you and have up to $25k to put down on another property, will the banks allow you to take out an additional loan on top of your existing loan. That I think, is what you must consider.


Residential Connection Group LLC
Gilbert, AZ

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