All Forum Posts by: Bryan Wilson

@Jon Lee thanks so much for your insight! I really appreciate it. I will definitely go over those options with the seller (he is a real estate agent himself) so I'll see where it goes from there. Again, thank you for taking the time to respond. Cheers!
-Bryan

Hi everyone,

Here's what's up:  I currently own two properties, both which have businesses running out of them and one rental suite all totalled bringing in $13,000 gross/mo. I am recently approved by my bank for $450K mortgage to buy a new property, but they are requiring 35% down payment, which would mean selling one property. I have a down payment up to $90K but don't want to use all of it, and don't want to sell a property (as I am looking to increase). The property I am looking at buying is a multi-family 4-plex (brings in $3250/mo approx.)

My question is, what is the best (or most creative way) to keep my two current properties, while lowering my down payment for a third property, and avoid the bank (or at least the 35%)? I am having trouble sourcing a decent private investment option. Any advice would be much appreciated! Thank you in advance! 

Sincerely,

Bryan W

@Brian Gibbons thank you for your insight! Much appreciated

Hi @Roy N. yes it was a new term for me as well. Essentially one property I'm looking at is in arrears and so it's required to catch up on the payments (approx. $6k down will do that), and like a rent to own scenario, a date is set for an option to purchase. Does this sound like a typical rent to own deal, or is it just the 'Agreement of Sale' terminology that is throwing me off?! Thanks so much for your response!

Hi there, 

I am currently looking at expanding my portfolio, but with a smaller budget, and two single family homes on the books already, I am looking to get creative in acquiring my next property. There are a few (apparently) decent deals available, but I'm a bit uneasy with the Agreement for Sale model. Any advice or tips would be greatly appreciated, before I move forward. Thanks in advance!