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Updated about 3 years ago,

User Stats

42
Posts
23
Votes
Preston Donahue
  • Real Estate Agent
  • Canton, OH
23
Votes |
42
Posts

Deal ID'd and almost in motion, now to fund the down payment

Preston Donahue
  • Real Estate Agent
  • Canton, OH
Posted

I have found an off market deal and have been speaking with the owner about purchasing. We have agreed upon a price. The cashflow is ok, but it's in a market that I believe will appreciate more than usual in the next few years. I've spoken with a few people about funding the down payment. 

If you were a private money lender, what would you suggest I do to attract you to my deal? I'm only asking for ~$15,000. So it's a relatively low risk deal. My plan would be to secure the deal, keep it rented and refinance it in the next year or two, and pay off the private loan.