All Forum Posts by: Jon Mark

I have a potentional lead on a multi house package deal that cash flows well. It consists of 2 - two story homes, and 2 mobile homes, all on adjacent to one another, and 1 vacant lot. I understand wholesalers try to market deals to fix and flippers/rehabbers, but what about a deal that doesn’t need any work, and cash flows well, and the cap rate is approximately a 10. I think the deal has been on the market too long, due to being FSBO, and lack of marketing. My question is, is it difficult to wholesale a cash flowing property? Would I just need to be more selective on my buyers list? Thanks for any feedback.

@Cody L. Thank you

@Allan Smith Thank you

@Greg Downey I plan on improving it significantly over the next 12 months. I got laid off from my job back in 2016 for a few months which ruined my credit score

@Stephanie Potter The hard money loan company I am looking at does not require a down payment if deal is 70 percent of the appraisal. I have never claimed bankruptcy, just bad credit due to getting laid off a few months back in 2016. I have not rebuilt my credit yet but I plan to. Thank you

Hello all, I have found a deal that I need a hard money loan for since I cannot put 20 percent down on the property, it’s 4 units all on conjoining properties, it will be around 430k to get the deal to work. However, if I acquire the deal, I currently have bad credit Will it be possible to refinance out of the HML if I show good cash flow and signficant equity, even with bad credit? Thanks for any advice

Has anyone ever owner financed the down payment that you didnt have the funds for? Say, for example, paying a higher interest rate on the first 20 percent of the note, then dropping to the normal rate once 20 percent is paid off? Are there any other creative financing ideas for the down payments when it comes to seller financing deals?

I have found a multi family property that I like and they are willing to consider owner financing with 20 percent down. I do not have the funds for 20 percent down, so my question is has anyone ever paid a higher interest on the first 20 percent, to make up for it. Then reduce it back down once the property is 20 percent paid off? Are there any other ways to get creative with seller financing the down payment? Thanks

Thanks for the reply, I just clarified they are all on one tax ID. Now it’s time to figure out financing

Thank you for the response, Wayne