Opportunity is out there among us. We all know this. I would like to have this post established to assist people on who to contact for pulling out equity on properties that close that have instant equity due to the agreed upon purchase price vs. the appraisal price.
What banks are doing this in today's market and what are their criteria? I have not looked into this path but I know someone on the site knows this answer.
I'd like to suggest this option to a few of my buyers when I present them future deals. If they say, "I'd like to buy your deal but I spent all or most of my funds being the deal you just sent me last week.." If they say this, I'd like to respond to them by saying, "there are a couple of banks I know that actually allow home owners to tap into their equity with no seasoning and the banks that are will to do it are ___________________."
People that have actually used a bank for this purpose please provide input since it will help many investors on the site. Thanks and I look forward to the dialogue.
Certified Cash Flow Consultant
Founder & President of Gold Bar Funding Group L.L.C.
Private Real Estate Investor
"Building Wealth by the Numbers"