Ohio private equity down payment partnership

5 Replies

Randomly came across this deal. We just bought a house so we don’t have the full down payment for this other opportunity.

Most people I speak with that are lenders need a minimum, need you to have some money in the deal etc.

I'm having trouble finding an equal equity partnership to fund the down payment. Produces 1.5% rule cash flow wise. No real work needs to be done and I've calculated numbers for typical HML loans and it's not a home run if for that type of financing. I know most times it's a relative or someone you know. My family is skeptical because I didn't find the multi unit on Zillow or the MLS lol. Are there any other strategies I could utilize? Thanks!

@Christine Smith

1. Seller financing

2. Rent to own

3. Wholesale it

4. Get a private money loan just for the down payment and then get a normal loan on it

5. Find a better HML

6. Partner with a local investor in that market who owns similar rentals

7. Join those local Facebook groups in that market and ask for a partner

Originally posted by @Christine Smith :

Randomly came across this deal. We just bought a house so we don’t have the full down payment for this other opportunity.

Most people I speak with that are lenders need a minimum, need you to have some money in the deal etc.

I'm having trouble finding an equal equity partnership to fund the down payment. Produces 1.5% rule cash flow wise. No real work needs to be done and I've calculated numbers for typical HML loans and it's not a home run if for that type of financing. I know most times it's a relative or someone you know. My family is skeptical because I didn't find the multi unit on Zillow or the MLS lol. Are there any other strategies I could utilize? Thanks!

 If you get a great deal in contract then money will come.

Originally posted by @Christine Smith :

@Remington Lyman so is the best thing to do get it under contract and then post about it? 

 As long as you get permission from the seller. It depends on how you market it. 

Here is a good video The Ohio Division of Real Estate made about wholesaling in Ohio https://www.youtube.com/watch?v=9fi54S8nwUA https://www.com.ohio.gov/real/