All Forum Posts by: Omja Pete

how do you cash out after the existing property owner signs up for the new lower loan amount

Good question jon

with low cash its easy to not attain the best feasible option which as joel mentioned is to buy short for cash direct from the bank. In my case low cash may still present the opportunity for essentually an assumable loan. Which leaves what would be needed as incentive to assume from the current owner.

Well unless a hard money is out there with a min of 1m that would fly in my case.

issues are numbers are essentually on a napkin no real verification former flag allegedly inbetween 2 star level franchises seller has been trying to sell / auction property without high enough bid.

Impression seller is trying to get away from a sinking ship

Outlook: excellent location condition of property is a 7 from a scale of 1-10
gross as stated to cover expenses including existing mort.

seems like some sort of sweat equity with no upfront cash would be ideal but maybe not sway existing owner to release ownership interest.. at same time owner is international absentee and cannot be hands on..

Any ideas or advice would be appreciated

or is it too small?

Ed: The state pays every 2 wks ( pa) Yes I currently work in a 100 bed facility thank you for thefast advice and ideas to research.

Jon: owner will do 80% seller financing balance either cash partner hard money etc inclusive of operating expenses to carry over for weekly expenses ie utilities wages prorated taxes etc
Management fees is an interesting idea

Rusty: Im looking at pa havent seen too much of that but I have seen what your talking about in california alot more than east coast. Would it be some sort of form of a 203k renovation financing for bring a SF to code?

Me: Masters Public health ( grant writing/ health care admin.) Worked on ambulance2yrs, human resources cert.

My financials: Low on cash for reinventment after paying off degree

My Re History: flipped a few low income SF homes paid cash so novice with hard money and debt structuring

The Deal: price $250k business and RE income 100K EBITA

Advice Ideas?