First off market apartment looking for creative financing advice
Just finished reading financial freedom and multifamily millionaire volume 1&2. I recently closed on an off market single family home and as I have been networking more and telling family friends about my real estate investing goals one of my close friends has brought me an off market apartment deal. It’s 26 units and the seller is older wanting to retire and has been self managing the apartment with his wife. This seems to be a good value add project.
Since I recently purchased the off market single family home I’m in the process of pulling out equity after adding value to the property to be used on next investment. Im looking to partner or possibly syndicate but also wanted to get any advice on creative financing for commercial real estate. If anyone with experience in this or can point me in the right direction for content would be much appreciated.
I have been analyzing the deal and leveraging Michael Blanks deal analyzer for possible syndication the numbers are positive and the seller is also offering seller financing. In the examples in multi family millionaire they did mention seller differed maintenance credits but are there other options I should be researching to help with some of the up front capital? In many of the books and podcasts I’ve listened to it says the most important part is finding an off market deal and not stress the financing part if it’s a good deal so I’m looking for any advice for my first apartment deal. Thanks!