U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Charlotte
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 03-21-2010, 11:37 AM
 
7,109 posts, read 9,735,348 times
Reputation: 2564

Advertisements

I came across something this week that's a first for me.Bank owned house that has (3) apts with 2 bedrooms each. Bank knows that I'm an investor and not a user. They offered to have the paperwork changed to a single family residence so that they can get it out of "commercial" and would sell it to me with 3% down (even when they know I am an all cash buyer.)

Not a challenged nabe at all. Price is good with a good cash flow.
I mention this only to show to what extent lenders are willing to do to get houses off their books.

Let's see what they think when I make my lower than lowball offer tomorrow. Maybe they'll stop loving me.
Reply With Quote Quick reply to this message

 
Old 03-21-2010, 12:43 PM
 
Location: State of Being
35,885 posts, read 67,165,475 times
Reputation: 22373
Dang, Pink . . . I would leverage my money and go for the loan - and take the rest of that cash and buy another multi-fam property.

And I would lowball 'em, too!

You have built up a fantastic reputation and they know you are good for the $$$. I don't know that everyone would be given those terms. But I do think banks are more interested than ever to deal with folks who are obviously flush w/ the cash.
Reply With Quote Quick reply to this message
Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina > Charlotte
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top