Updated over 5 years ago on . Most recent reply
How should I finance a Four-Plex?
Good Morning BP Family,
I decided to take action on a four-plex property here in the Dallas-Fort Worth area without being pre-approved. This is an off market deal, that the owner is asking $500k for. I don’t qualify for that loan amount nor do I have the down payment. I think it’s a great deal that passes the one percent rule and is worth pursuing. One unit has become vacant so I wold be able to House Hack the property. Is there any creative financing strategies I could use in order to get this deal closed? Any help would be greatly appreciated!
Most Popular Reply
Would the owner be willing to hold the mortgage for you? They could be your bank and agree to terms that work for both of you.
Or I would suggest finding a partner who has money. They can be your financial component, and you can be the boots on the ground.