All Forum Posts by: Kim Mancoronal

has anyone invested in an apartment complex. I found one that is an REO. it is an 84 unit complex built in 1964. it has a 64%- 67% occ. rate that they are reporting as "climbing" price is $1,800,000.00 scheduled gross income $424,320.00. OE $200,000.00. I am interested to see how someone else has financed a deal like this one.

Thank you for your reply's. Some of these are such good deals that I would not mind even paying more than the asking price but the reo property banks would not even talk to me when I told them that I could not give them 20-30% down even if I would pay them more for the property

I am wondering how anyone else is financing Multi-family properties....I have found several GREAT buys, some are REO's and some are regular Realtor listings. With the REO's I have attempted to work with the banks with vendor financing but they are wanting 20-30% down ( I do not have that) same with regular bank financing. How are you getting around that huge down? I am new to the bank loan portion of financing deals.( I used to have a private source of money, which is no longer available to me.) Any help would be greatly appreciated.