Finding a private partner might be the way to go…

Have you investigated the Nicaragua market at all? Or are you sticking with Costa Rica?

Another way besides institutional (bank or mortgage company) or owner financing is private money.

If there is a solid upside a partner could also be used .

Private money is usually much more expensive
but many times you can find an individual that is only getting a 2% return from CD’s. A person like this may be willing to lend at a good rate. You could use networking, fliers, or a classified ad to locate this type of person.

Another idea could be to find someone overseas looking for a 2nd home. Typically they would only use the property for a few weeks a year. You would have to agree upon when they would use the home and when you would use it. They could put up all of the money and you could provide maintenance, management, taxes and insurance. Each of you could own an equal share of the house.

In Florida banks will lend on anything except mobile homes as long as you can get property insurance. If a wood house is typical for the area and can be insured then banks should provide financing.

Sonny

I think you could easily sell information on buying homes as investment properties. For example, I have a house next to me that just went up for sale for $135,000. I would like to make an attempt to buy it but I don’t think the house will qualify for a mortgage because it is wood construction.

Any suggestions? Owner financing is not an option…