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Updated over 6 years ago,

William D Banks II's profile image
William D Banks II's profile image
William D Banks II
  • Rental Property Investor
  • from Albuquerque, NM
  • Member since Jul 23, 2018
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8
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William D Banks II's profile image
William D Banks II's profile image
William D Banks II
  • Rental Property Investor
  • from Albuquerque, NM
  • Member since Jul 23, 2018
Connect
William D Banks II
  • Rental Property Investor
  • Albuquerque, NM
0
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8
Posts
Starting Out

*Newbie* Creative financing ideas for first deal!

William D Banks II
  • Rental Property Investor
  • Albuquerque, NM
Posted
My co-worker is looking to sell his rental for what he owes on it....125k.......the property needs about 15-20k worth of work inclusive of a new roof. My ARV on this property would be 175k. I have the money for repairs but would like to get into the property with no or low money down. I was wondering if i could take over his mortgage or something like that....but i have little knowledge on how to do that or pitch it to my co-worker. Any creative ideas?
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