5 properties: 3 under loan , 2 paid off.
I have a deal I’ve been working through.
5 properties owned by 1 person.
3/5 properties are under a mortgage @ $136,000 is the payoff amount. $1039 per month
2/5 the owner wants $60,000 total for both and they’ll be free and clear.
The bank is willing to do a refi on the current 3 properties or sell their loan.
creative financing-
Would it be better to try and get a refi on all 5 With their current bank?
using the 2 properties free & clear as leverage ?
Would there be a way to refi all 5 in order to pay the 60k Needed at closing for the 2 properties that don’t have a mortgage?
help ! Lol myself and the owner have been trying to figure out a deal.