There is a FSBO property I saw for sale that is a four family fully occupied bringing in $2,360/month. My assumption is that no rehab work would need to be done so I would be buying a turnkey property with a conventional loan. What are some suggestions to come up with some financing for the 20% down? Are investors still open to financing down payments with an appropriate ROI or can I do a first mortgage for 80% and a second for the down payment. Any advice is greatly appreciated.
@Dustin M Prasuhn , turnkey? Really? That's doubtful, I ALWAYS assume there's at least $5k of repairs needed.
How much is the owner asking? Have you done a full rental analysis?
I tend to find that FSBOs tend to be in worse condition than standard listed properties. Im not sure why that is, but it definitely seems that way to me.
@Jayson Medhurst , I say that in the sense that all four are already occupied. My guess would be that as tenants left that the spaces would need to be rehabbed.
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