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Creative Real Estate Financing

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Kristin Whitfield
  • Virginia Beach
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Looking to purchase a 16 unit for $500K...Need help with Creative Financing

Kristin Whitfield
  • Virginia Beach
Posted Jul 18 2014, 17:48

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 

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