What would you do...?

[Jason Gott]

So let me start off by saying I am still new to real estate investing so go easy on me, but not too easy (I'm still a man dammit!).

Let's say I found an 8-plex that has been without love for a few years Estimated 20k repairs (Brick, 10yr. old roof, 100% rented, gutters falling off, needs paint, shrubs grown up, etc., etc.) Each unit brings in $650 for a total of $5200/mo. Expenses include: Taxes $3000/yr., Insurance $400/mo (might be cheaper) Tenants pay utilities. 10%managment, 9% repairs/maintenance, 9% Capex, 5%vacancies.

Listed for 330K but I know I need to buy it for 228k.  Not a lot to put down and trying not to use all of my cash.

I know it's a solid deal and the numbers work in my favor but the question is,

How would YOU pay for this deal if it was YOU?

-Seller Financing?

-Partnership?

-Hard money?

-Private Money?

-Lease options?

AND GO!

[Christopher Lombardi]

I would put in an offer and ask the seller if he would hold a note for 25% of the purchase price so it would make it easier for me to purchase while at the same time he would still receive monthly payments from the property without the headache of managing or owning it.  I'll make sure the full amount is paid back within 5-10 years or less depending on what he would prefer.  The bank would provide the other 75% so it would be a no money down deal....  if he says no, i would put the 25% down.