Updated almost 7 years ago on . Most recent reply
Private Lending & real estate consulting for young new investor
Investment Info:
Small multi-family (2-4 units) private money loan investment in Philadelphia.
Purchase price: $412,000
Cash invested: $75,900
Provided Private loan to young investor getting started so he can live in one of the 4 units and rent out the other 3.
What made you interested in investing in this type of deal?
To help a young investor and to gain current and future business with this investor. Property is fully occupied and has great cash flow potential.
How did you find this deal and how did you negotiate it?
Found on MLS and negotiated with agent and seller
How did you finance this deal?
Part private money and part conventional financing
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, Mark Malfara with Berkshire Hathaway Home Services Fox & Roach realtors was the real estate agent as well as the private money lender.