Creative Financing for $1.6 Million Property with Good Cashflow

[Casey Groves]

Hi All, I'm in a situation where I'm discussing purchasing this property from the owner of this property. The annual cashflow is $112,000 in the clear. There is a management company that keeps the units occupied and handles any minor maintenance. That cost has already been factored into the cashflow number.

I'm looking for financing support for the

%50 down payment the seller is asking for. So I'm looking for 800K for the down payment. What kind of terms could I get on this, so I can factor that into the estimated numbers? I have about $50K I could use as a down payment. Is this possible and who do I talk to about a loan on this?

Thanks so much

50% down payment that the

[Jacob Sampson]

Why not go to a bank where all you need is 20% down?  If the property is as strong as you say then a bank won't have an issue loaning the money.  Also, have you talked to local investors?  My experience is that finding a legit deal is the hard part, money is easy when you have a legit deal.