All Forum Posts by: John Jones
John Jones has started 1 posts and replied 2 times.
Thank you for the reply. Yes, multi family unit...60% of which are currently rented with a few still vacant. I believe it is a good deal due to the positive cash flow and return on investment available from day 1. A closer inspection is to be done in the next 24 hours but likely will be B class. The demand in this market is strong, but there is little movement either way year to year. There is a 10% vacancy rate. Yes, we could manage it. I likely will not involve any management companies until I have 4-5 properties in a portfolio minimum depending on geographic distance from my hometown. The exit strategy would not come into play for many years unless refinancing was a possibility to pull equity out and reinvest.
Thank you for the considerations for me to ponder.
Absolute newbie here, both in real estate and this forum/site. Have bought several personal houses through the years through non-traditional means, but last week I found a real estate guru online and he fired me up about doing this as a business. Long story short, found a deal already with a conservative ROI of 25-35% annually. Need funding of approximately $150K but after a nasty divorce my credit is in shambles. Not trying to sell this deal, as it single handedly would get me halfway to "financial freedom" but do I have any options? If not, who can I reach out to about this deal because it is not going to stay on the market long with tenants already renting over 50% of the units included for profit from day 1. Thanks, and cheers!
PS, I am not here looking to sell this deal at all or for someone here to finance this deal, I am simply asking for ideas or directions in which I can look.