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I found the deal, presented it to a partner...now what?
I am new to multi family but not real estate.
I know a person that wants to sell their 10 unit apartment building. Great location, great price, good condition. Anyways, I do not have enough money for a 20% downpayment so I presented it to another investor I know.
They really like the property and want to buy it, however, I think they want more of a 50/50 partner as far as putting the money down to buy the property. I could put maybe 10% of the required amount down to help. They are offering a finders fee but I would really like to own a piece of the equity, EVEN IF it is just a very small percentage. I dont really want a fee. I want to build my portfolio. Is this possible? What should I do?
Thanks!!