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Updated about 9 years ago on . Most recent reply

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117
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Monique Rene Coates
  • Consultant
  • Providence, RI
37
Votes |
117
Posts

What Would YOU DO had POF but no DOWN ?

Monique Rene Coates
  • Consultant
  • Providence, RI
Posted

If you had POF for up to $500k but NO down payment funding from any sources = IRA, Family, Bank Loans, Credit or Income . . .

What would YOU DO to purchase a BUY & HOLD commercial 10 - 12 unit investment property for CASH FLOW with a Min. Cap Rate of 8%, ROI > 70% and vacancy rate < 5% annually.

Thank you for any help BP Friends! 

Most Popular Reply

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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
Votes |
23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

I do a reality check on whether that $500k is Really available to me under my current circumstances. Also, "if you had a POF for $500k..." means You have $500k, but I'm guessing in this case someone is promising to fund you, that actually has the $500k, so you Really have a supposed "preapproval" for $500k, not a POF.

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