Posted by Keith on June 28, 2006 at 23:31:58:
Credit not good 600 or so. The main problem is the third unit if the township does not approve 250k is way over priced. The house is in the Philly. suburbs.
How do I creatively structure this deal? - Posted by keith
Posted by keith on June 28, 2006 at 15:02:16:
How do I creatively structure this deal?
3 apt dulpex ( one apt not approved by the local gov.)
Owner wants 250k the building generates $2045 in rent.
This building has been on the market for longer than a year. I have 10k cash. I need creative financing. How can I make this a win win.
Re: How do I creatively structure this deal? - Posted by Phil(ATL)
Posted by Phil(ATL) on July 02, 2006 at 10:52:24:
In order to yield as best a feedback as possible, its best to share as much info as possible. Here are questions that may help one give you better feedback.
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What is the total debt service per month? i.e. Expected Mtg pmt, county/city taxes, home owners assoc. fees, occupancy rate, average rent rolls at least occupany rate etc…
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Repairs needed
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REAL reason for selling - What is the seller’s motivation for selling such a “great” property?
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What is your exit strategy
Hope this helps you on your path of thinking this purchase “all the way through”.
Goodluck.
Phil(ATL)
Re: How do I creatively structure this deal? - Posted by Shaun
Posted by Shaun on June 28, 2006 at 21:04:20:
Can’t you just get 100% financing? If not, maybe see if the seller can hold a second for you? Where is the house and how does your credit look?