Newbie looking at 1,500,000 deal !!
Hello BP Family,
I'm interested in a complex listed at 1,500,000.00. I'm wondering what would be the best way to acquire this property? It's a four unit in a desirable area so renting won't be an issue. It's in good shape so only a few changes if any. I've heard that getting an LLC is good but is it harder to get funding this way or easier using my personal information? Does anyone know of any loan programs or methods that would work for this type of property for buy and hold? Any advise would be great.
Thank you
Sydnie
Most Popular Reply
What is your capacity to purchase such a property? You'll need at least 25% down, closing costs, reserves, etc. Without a lot more details about the NOI v NOE of the asset itself, you are presuming facts that may not be reality. "Renting" is not the issue...DSCR and renting with sufficient cashflow to meet expenses and earn a profit is.