Possible great deal no money for down payment help
I've found what looks on the surface to be a great deal. The problem is I've just sank my budget into another property. I've got $5000 in the bank and those are my reserves for emergency repairs.
It is a triplex with 3 single bedroom apartments. All units are filled with long term tenants paying $500 a month. The shocker they are only asking $90k. If I were able to fully finance it with a loan at the rate I'm getting now my payments would be around $600. Minus say $300 a month for repairs and management and the profits could be $600 a month. What are my financing options? Is there anyway for me close this deal not knowing any hard money lenders? Im sure this one will go fast.