All Forum Posts by: Allen Prather

Thank you Michael! I’ve actually went that route on a current flip I’m working on. I will use that advice to try and make a move on a multi-family. 

Thanks again,

Allen

I’ve had several successful business deals but recently was set back and was forced to file bk. Will be discharged end of this month. Looking to get heavy into multi-family real estate. I’ve had experience with a couple flips and I also own 4 rental properties. What is my best route to get funding with my recent credit fail. Previous to BK I had excellent 800 credit and plan to get back to it. Any advice is much appreciated! Can I leverage one of my rentals as a down payment? And where do I get financed? Thank you

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $94,500
Cash invested: $65,000

Full rehab fix and flip.

What made you interested in investing in this type of deal?

Great opportunity!

How did you find this deal and how did you negotiate it?

Negotiated with seller at a 12 month with ballon term land contract with 20% down at 6% rate amortization of 25 years.

How did you finance this deal?

Same as above

How did you add value to the deal?

Full rehab

What was the outcome?

Just finishing project up, have 4 potential buyers.