20 unit portfolio - advice /help

[Jason Grimm]

Hey guys. I'm a rookie investor/agent mostly interested in multifamily for cash flow. I came across this 20 unit portfolio on my local MLS, and reached out to the listing agent. They said they would be willing to do seller financing for 24 mo with a down payment probably between 100-150k. Instead of throwing in the towel due to lack of money, I thought I would throw this out to BP and see if somebody can point me in the right direction, whether that's hard money, partner, etc. The numbers look good, I just don't have the resources or experience to come up with such a significant down payment. Any advice or help would be awesome and greatly appreciated.

[Tim Herman]

@Jason Grimm You have no numbers other than 100-150k down and 24 month balloon. Minimum you need purchase price, Cap rate in your area, net operating income. Then you need to evaluate are the rents at market. Deferred maintenance. 

Example assume you have a NOI of 100k. The cap rate in your area is 8. $100000/.08= $1250000 purchase price. If they are asking $1750000 then it is not a deal. If you can get it at a 10 cap or $1000000 then start talking to investors.