24 Unit Stalled, looking for creativity ideas.

[Thomas Hundtoft]

Hi All,

I am working on my third property and I bit off a big chunk to chew on.  The owner is willing to take on a significant portion of the debt with a second position.  I am having trouble finding a source of financing that will allow the second position.  I have attached the worksheet for your viewing pleasure.  I have read " Low or No money down" twice and seem to have run out of creativity.  The sale price is 1.4M and the owner is willing to take on a second for .4M.  I would be financing the 1.0 for a no money down situation.  Am I smoking something here thinking I could get into a 24 unit deal for little or no money down?  I ran the numbers with a 1.3 purchase price.

https://www.biggerpockets.com/...

[Julie McCoy]

Originally posted by @Thomas Hundtoft:

@Julie McCoy I should add that I have always found that people with short term rentals are some of the most creative people.  Perhaps I didn't post it to the wrong forum:)

Perhaps you are correct!  haha  It's true this niche does require creativity, and I shouldn't have spoken on behalf of everyone here - I just know your question is outside my particular expertise :)