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Updated about 6 years ago,
Multifamily Purchase or Sale?
I am looking at a 48 unit building.
Numbers are good
Owner had it sold, buyer did not perform.
I am looking for recommendations as to how I could purchase this deal with none of my own money. If not, a possible way to get some equity in the deal itself for some passive income.
I will probably not be buying this deal. I don't believe it is smart for me to get into a deal like this, as I do not have any reserves built up. That is why I am leaning towards some type of equity or payout for bringing the deal
I am familiar with seller finance, syndications and other avenues.
Its hard to know who to trust when talking to "buyers" in the digital landscape. I worked with the buyer from a second seat position and was not deeply involved in the deal. Essentially the buyer did not have the down payment and could not raise it. They were approved for the lending side. I tried to raise the down payment money, but was not successful.
I would like to see some opinions on how to take this deal down.