Our client was under contract to purchase an investment property, a condo in Miami.
He presented two challenges to us. First, as a first-time investor, he had zero experience as an investor. Second, he was seeking 80% loan-to-value (LTV). Typically, even seasoned investors are only given 75% LTV.
However, we were able to get the lender to make an exception and provide our client with 80% LTV despite his status as a first-time investor. Moreover, our client received a 30-year fixed rate and was able to place his property in his LLC.
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