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All Forum Posts by: Andrew N

Andrew N has started 1 posts and replied 2 times.

Don't really want to add a partner if I can help it. What about some kind of lease option? Option it for say $20k, pay the owners $6k per month for a few years, and then do some kind of refinance to cash them out?

I have the opportunity to buy an old motel that is currently being run as month to month rentals. Cost is $1m and grosses about $300k-$350k per year. As for me...I have great credit (800 fico) but little cash (about $40k) Owners are flexible though and may carry much of the downpayment. So would a lender even touch me with so little cash in the deal?