Updated over 8 years ago on . Most recent reply
Great Deal but unsure on best way to fund
My partner and I found a owner who is willing to sell 3 properties from their portfolio (4 doors) for a total of 94k. The properties are stabilized and leased with long term tenants. All the numbers look great on the cash flow in. We don't know where we can get funding to get this deal done. We are leveraging 20-25k cash and the owner agreed to owner financing but the deal fell through do to the terms he wants. So at this point without complete funding of the deal it won't happen. Does anyone have any suggestions or has had this happen to them before?
Most Popular Reply
Justin Hubbard Without calculating the monthly payment, I would say if you are cash flow positive with the terms, go for the 3year balloon and then refi in year 3 as you would be able to show the banks that the property cash flows. I am assuming you have the 20k to put down