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Updated about 6 years ago, 11/12/2018
Newbie looking to purchase 23 Units on Master Lease Agreement
Hi BP family,
I recently received an email regarding a multi-family 23 unit apartment complex just outside Houston. So far I've visited the property, taken pictures, and spoken to the broker who works with the owner. I'm a newbie investor, so I don't have a liquid assets to purchase the property, other than the EM required. I've sought funding through my local credit union but, they require too much down to secure funding. And a hard money would request astronomical points and fees. So I've been reading about the master lease agreement, which is an awesome idea (thanks Brandon Turner). Regarding the master lease should I do A intent to purchase contract first, providing they are willing to do the deal?However, I'm not sure what my next step is. Any suggestions and/or advice would be greatly appreciated.
Thanks BP family,
Marcus Joseph