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Updated almost 12 years ago on . Most recent reply

User Stats

111
Posts
28
Votes
Anthony Martin
  • Rental Property Investor
  • Knoxville, TN
28
Votes |
111
Posts

Possible two asset acquisition

Anthony Martin
  • Rental Property Investor
  • Knoxville, TN
Posted

Hiya BP!

So I've been doing a lot of looking around and scouting out via websites, primarily Realtor.com and Trulia. I don't much trust Zillow. I found two REOs on the same street listed for ~$60k each with a market value of around $85k each. They really only require some cosmetic fix ups. They will both rent for about $800/mo in this neighborhood. I've seen similar homes rent from $795-$850.

My problem is thus; I don't have 20-25% cash to put down for a deposit and my resources are, so far, limited when looking to my network for money. If acquired, these properties will be numbers two and three in my purchase history. Is there any creative financing advise that anyone can offer as far as getting my hands on these two? I'd like to put in an offer for both at $50k a piece pending inspection results.

Any help/guidance would be immensely appreciated!

Thanks BP

Anthony

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