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Updated almost 3 years ago,

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Starting New Investor seeking Creative Financing advise guidance

Posted

Hello: First thank you all for your time! I am new to the investment arena but ready to jump in, located in Tampa, FL.  I am currently looking at a Multifamily, 6 bedrooms, 2 bathrooms, built-in 1984. Currently occupied with several long-term tenants of 15 years, 6 years, 3 years, and one new tenant. Current rent collection for units 3601 and 3603 is over $45,000 annually according to the owner. Each unit is 3/1 and has a total square footage of nearly 1100 sqft. Units 3601 and 3603. This is a "Sale by Owner" and is selling both together and wants $299K for each duplex. Seems they purchase in 2018 for $165K.

Comparables: 11Properties $206,655Avg. Sale Price122 Days on Market. Driving by the unit, the neighborhood seems to be a "C" Community. Unable to view the interior of units. potentially could be able to increase the rents.

My question is, would it be possible to locate "Creative financing" such as potentially offering "Seller Financing", etc. not sure of all the available financing without any monies out of pocket, still learning in this new journey, thank you.

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