Posted by phil harris on July 27, 2011 at 09:47:24:
I’m looking at a 5 plex right now in Ohio for 160k. I know the owner is willing to carry some back, probably 20-30% payable within one year. 100% occupied right now bringing in 2500 per month. Anyone forsee any trouble financing this? I had a mortgage lender look over some stuff two months ago, and with my DTIR my wife and I qualified for about 50k. I have a rental with about 30k of equity, but am about 5% off of refinancing it. I’d like to offer this property out to a note buyer to refinance it, but that will be another email?