Updated almost 7 years ago on . Most recent reply
First deal financing duplex with tenants.
A family member backed out of financing our first deal so we are back at square 1 for fuunding.
DUPLEX
OFFER PRICE $150,000
2200ft
2/2 on both sides with garages.
It needs kitchen updates and the carpet is old.
Has long term tenants.
New roof as of last week.
$750 Rent per side AS IS.
COMPS AROUND $190,000 IN THE AREA ARV.
OUR OFFER HAS NOT BEEN ACCEPTED YET BUT WE NEED TO GET FINANCING FIGURED OUT.
WE HAVE A FEW POSSIBLE INVESTORS BUT THE LOCAL BANKS I‘VE SPOKEN WITH HAVE SAID WE CANT USE BORROWED OR “INVESTOR“ MONEY FOR THE 25% DOWNPAYMENT...???
THOUGHTS?
(IM NOT YELLING, THE APP STOPPED LETTING ME USE LOWERCASE HALF WAY THROUGH THE POST.)