Please Help This Is My Dream!
Hello all! I know everyone is super busy being successful Investors and I would greatly appreciate some of your time. There is an apartment complex one street over from where I live and is serious need of some rehab work. The walkways on the 2nd and 3rd floors are tattered underneath like it might fall soon, the front sign is missing some letters, it needs some serious paint, lanscaping and tlc. It has been in this condition for years. I recently hunted down the owner of this building and he is all the way on the east coast (im in seattle) and I would LOVE to acquire this property but of course I don't have 2 million to put up or the collateral to get a loan that big. I was thinking about calling my buyers list and asking if anyone wanted to partner in this deal with me but I would rather own by myself but I wont be choosy. Maybe a hard money loan would be appropriate? Im getting ahead of myself as I havent even contacted to owner to see if he will let me buy from him. What do you think the chances are of him wanting to sell to me? Do you think I should go in with a strategy to talk with him over the phone? Any advice would be greatly appreciated as this has been my dream and I feel there is an opportunity here and I dont want to lose it because of a financial issue. Thank you!!! I will be calling the owner right after i am done writing this and will keep you all updated.