I Need help analyzing and financing my first deal

[Byron Kearns]

I have recently talked to a property owner of a home in the Philadelphia area and her asking price is 130k. The property is a three bedroom two full bathroom corner house that is a little outdated. The property’s roof has been serviced recently and all of the electrical work has been done. My question is what should my target price be to get it under contract and how should I go about financing a buy and hold deal without much money. Any and all suggestions are helpful and the property itself is in a good location of Philadelphia. Thank you all in adavance for any advice received.

-Byron Kearns

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Originally posted by @Byron Kearns:

I have recently talked to a property owner of a home in the Philadelphia area and her asking price is 130k. The property is a three bedroom two full bathroom corner house that is a little outdated. The property’s roof has been serviced recently and all of the electrical work has been done. My question is what should my target price be to get it under contract and how should I go about financing a buy and hold deal without much money. Any and all suggestions are helpful and the property itself is in a good location of Philadelphia. Thank you all in adavance for any advice received.

-Byron Kearns

 You want to put the information and numbers into a ONE page presentation - not fancy - just facts - and then show it to every friend, family member, dentist, doctor and businessman that will talk to you. Show them how much THEY will make. Determine if you want to borrow their money and for how long and at what interest rate or determine if you want to Joint Venture and split the profits, they put up the money, you do all of the work.