Looking to purchase a 16 unit for $500K...Need help with Creative Financing
Hi all
We are looking at purchasing a 16 unit Building. We have $20k to put down and I need some ideas for creative financing. the property is a foreclosure and the previous owner purchased it for $750k. It is well right now it is slightly bellow the market in Milwaukee . I am a buy and hold , and want this for the long term
I am at a stand still cause I really don't want to contact my bank. I need the challenge of figuring this out ...outside the the banking system. I have great credit. and I know the money is out there I just need to know where
Who do I go to to get the financing for the project. It is cash flowing at this price.
I thought about contact a hard money lender, but I am not sure. I heard about Private money. But I don't have any friends or family who have money to invest.
Can you folks give me a couple of "tools" to put in my "tool belt"
I want a Step #1 and Step #2 and Step #3 for the long term
Thanks in advance