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Updated over 7 years ago,
4 duplexes for sale- How do I make this deal work?
Hey guys! Im reaching out to get ya'lls opinion on how I can make a deal work. Right now I can buy 4 duplexes in my area (right next to a major University) that are each 2/1 for $600,000. Rents are at $650 a unit which is under market by $100 a unit. Right now the owner is grossing $62,400 in revenue. I could raise rents and bring in $67,200 without any problems. The real attractive thing about the deal is its on 1.56 acres and is zoned for 28 units an acre.... HUGE. How do I make this deal work??? I do not have the cash to put down 20%. I own 1 rental right now that i probably have $80,000 in equity. I only have around $30,000 in cash. Owner is not willing to do any type of owner financing. No question this deal is a game changer but i need to get creative. Any tips?