Multi family free and clear
Hello. So I am just getting into real estate. There is this potential property the owner is trying to get rid of because his mom is getting older. The multi family has 6 units and they have a cottage on the land - and he is selling it for $299k (worth 319k however). However their mortgage is free and clear. Since I do not have a lot of money to get started I was thinking about a lease option - but again they do not have a mortgage. Any other ideas how to obtain this property? OR IS IT EVEN WORTH IT??? I analyzed the property by putting in 20% down of the 299k but the CF was only 63 dollars. Why do we believe this property is getting such a poor CF?