Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago on . Most recent reply

User Stats

10
Posts
16
Votes
Melanie Kent
  • Cleveland, OH
16
Votes |
10
Posts

Found my first deal - need help funding.

Melanie Kent
  • Cleveland, OH
Posted

Hello, I am a new investor and I am looking for a creative way to purchase a deal. I have a motivated seller willing to help seal the deal. The deal consist of 22 units which all have long term tenants. The only issue is because the seller is giving me such a deal on the properties the bank will not take separate mortgages under 40K. I need creative financing but again this is my first deal and I can buy the properties one by one or whatever strategy will work best. These are 11 duplexes tenant occupied. Does anyone have any advice on how to make this deal happen? The properties appraise for approximately 15-20K more than the sellers price to me and the bank says it's not enough to loan on. 

Most Popular Reply

User Stats

2,871
Posts
2,502
Votes
Rick Pozos
  • Wholesaler, Rehabber and Landlord
  • San Antonio, TX
2,502
Votes |
2,871
Posts
Rick Pozos
  • Wholesaler, Rehabber and Landlord
  • San Antonio, TX
Replied

Hey @Melanie Kent the first thing to do is to leverage this great platform. There are probably 100 people that live within 50 miles of you that would help you with that deal. The problem is that you have NOT filled out your profile, no picture, no one knows where you live. You have been on here several weeks and no colleagues. 

We are all here to network, make friends and get to know each other so that we can help each other and hopefully ALL make a little more $$$. 

Loading replies...