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Updated over 6 years ago,
Big Baller Landlord dreams
Hello BP group, I have a friend who just so happens to be sitting on a 24 unit. It' actually in his father's Trust that his mother is holding at the present time. He said it is worth 1 mil but it' assessed at $750,000. It is currently being rented as a low income rental to the elderly. The area is a small town ( under 4,000) in Nebraska but it's between 2 major cities and the town itself has plenty of new construction taking place as we speak! Once I take a deeper look at the numbers and inspect the property I will have to figure out the best approach for financing. The rents are about 500 per unit . How could I possible make this deal on my own without having nearly half the 20% down needed to purchase this property. I have a couple rentals and free of all debt except for the mortgages on my rentals and house. Any ideas ??