300k to Close! Any ideas? Creative Options?

Question

Looking for anyone who could point us in the direction of some creative/hard money solutions? We need just under 300k to close a 30 unit deal. Any ideas or contacts would be amazing! thanks

Andrew Freed · Answer

@Casey Ricks - You already got given good advice. In addition, do you have friends and family that have sizable 401ks? That could be an option, to bring in friends and family as partners or if any of your connections have sizable equity, they can also utilize a HELOC. If this returns look good and it seems like a solid deal, I'm sure you can convince your close connections of the value and get investors on board. Just make sure to create a clear and concise presentation of the value of the property, the finances, and your plan for value add aka a business plan.

Allan Smith · Answer

That usually takes relationships with investors prior to getting a contract on something. There are some bigger companies that will come in as an equity partner.

bottom line, gotta network and it can be done!

Casey Ricks · Answer

Thanks Andrew! Good advice as well on other options.

Casey Ricks · Answer

Very true Allen! thanks for the reply. Much appreciated. This one kinda just dropped in but def a good reminder to have everything lined up next time just in case.

Lee Yoder · Answer

@Casey Ricks, your best bet is an investor in my opinion. Do you know anyone that would be willing to invest that much money? I live and invest in the Dayton area. I'd be open to hearing about this deal.

Casey Ricks · Answer

Offering a 15% return on the cash. 1-2 yr max

Casey Ricks · Answer

Just south of Dayton Ohio. Maybe 15 min.

Christian Petrozza · Answer

@Casey Ricks what area?

300k to Close! Any ideas? Creative Options?

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