Updated over 9 years ago on . Most recent reply
What Would YOU DO had POF but no DOWN ?
If you had POF for up to $500k but NO down payment funding from any sources = IRA, Family, Bank Loans, Credit or Income . . .
What would YOU DO to purchase a BUY & HOLD commercial 10 - 12 unit investment property for CASH FLOW with a Min. Cap Rate of 8%, ROI > 70% and vacancy rate < 5% annually.
Thank you for any help BP Friends!
Most Popular Reply
Wayne Brooks
#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
- 13,510
- Votes |
- 23,418
- Posts
Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
I do a reality check on whether that $500k is Really available to me under my current circumstances. Also, "if you had a POF for $500k..." means You have $500k, but I'm guessing in this case someone is promising to fund you, that actually has the $500k, so you Really have a supposed "preapproval" for $500k, not a POF.