Updated almost 6 years ago on . Most recent reply
Cash Flowing Quad, need help figuring out how to finance
I’m a newbie and this will be my first deal. I found a great quad that is listed for $220,000 and I want to offer $200,000. It is fully occupied and produces $2400 per month income. I really want to do this deal but I only have about $10,000 that I can put towards the down payment, assuming it’s 20% I’ll need about another $30,000. Does anyone have some ideas on how I can present this to an investor to give me the $30,000 I need and then repay them? Based on the numbers it will cash flow about $1200 per month.
How would I repay them if I can’t get enough equity to pay them back in a cash out refinance? Should I offer equity in the deal and if so, how much? Are there any other options? Any help is greatly appreciated. Thanks!