How could I finance this complex without my money?
I found a seller who wants to sell 8 townhomes (4bed/2.5bath/2200sqft each). They currently rent for 2200 each. 5 of them have 12 month contracts on them, the other 3 are currently vacant due to renovations being done. It is listed at 2.5Million. (I would offer closer to 1.9)
I currently do not have the ability to put a down payment on this property. I would be looking to get a silent investor.
How would repayment work? Could I add value by giving the investor 100% of profits until his downpayment was returned with interest while I managed the property?
I am just not sure the correct way to structure this. I am new to commercial, and while I am not jumping into this deal.. I would love to at least hear how you would go about it.