Advice on buying 5 rental properties
I recently came across a guy who offered to sell me 5 rental properties in my area. I am just starting out and do not have much cash currently and the seller said that he could not finance them to me because he wants to 1031 exchange the money into properties in his area. I’m supposed to be looking at them all in the next two weeks and getting back with him on whether I want them. If we do come to an agreement in price what would be some advice on getting that money together? A bank probably won’t want to lend that much to a new investor and the hard money lender around here won’t lend that much either.( it would probably cost around 400-450k)
Any advice or thoughts are appreciated