Inquiring about creative funding

[Crystal Taitt-Phillip]

Good evening BP,

I have been on the hunt and saw numerous properties in the last few weeks. I am interested in 4 duplexes that are being sold as a group for $349,000 with each rented at $450. I currently have a little less than 25% of the down payment if I use conventional funding. Any advice form the group on creative funding will be greatly appreciated, thanks.

[Kenneth Garrett]

@Crystal Taitt-Phillip

At 450 a unit that’s 1800 per month.  A mortgage if 261,750 (25% down) at 5% is $1530 without taxes, insurance, property management, vacancy, maintenance, capex, etc.  I think you will be negative Cashflow unless you get a great discount.  No rehab number either.

Private lender could come and help fund, but I would look at this as a bad deal.

Be careful.