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Updated about 3 years ago on . Most recent reply

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How do I finance this deal? First post!

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Hello all,

Extremely excited to have stumbled across this community while reading a few of Brandon Turner's books on real estate investing! I am hoping to start my real estate investment journey with a couple of condos that my mother currently owns in New Bedford, MA. We estimate the current fair market value to be around 135-140k each. She is willing to sell them to me for around 80k each. They are currently rented and require no work. These 2 condos exist as a part of a 12 unit condo building, in which there is 0% owner occupancy. I am wondering if anyone has any tips/recommendations in terms of financing this deal, or has personal experience with a deal similar to this. As far as I know, most banks/mortgage brokers wont touch this due to the 0% owner occupancy. Any help is greatly appreciated, thanks in advance!

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