Fantastic Bay Area Deal - Looking for Financing Ideas/Partners

[JB Gough]

Hi all,

I am looking for any suggestions on how to proceed with a very appealing off-market opportunity in Oakland, CA. My business partner and I have just started investing in a few rental properties, and this seems like a no-brainer to us. A summary of the opportunity is below.

2 4bed/3bath SFH offered together for $1.75M.

Comps show implied value of $2.4M-$2.5M

Very desirable neighborhood of Oakland

Seller has offered to finance a portion of the total purchase

Both homes are completely vacant and recently remodeled (so we can command market rent for all units)

Since my business partner and I have recently started investing, we do not have significant reserves to put down $300k+ in a traditional loan package. Our main issue is figuring out how to get the purchase initially financed, since we would be able to almost immediately refinance with the significant equity upside here.

If you have any thoughts, lender/private lender recommendations, or are interested in learning more, please don't hesitate to reach out.