6 Unit Multi Family, Need Funding Suggestions

[Ryan Johnston]

Hi All,

I am a residential real estate agent who has bought and sold multiple personal properties but have never taken on a commercial loan.  My cash is tied up at the moment and I am trying to find suggestions about how to best structure the deal.  The seller either wants to outright sell or will owner finance with a minimum 50k down.

Purchase Price $170,000

6 Units All 2/1s Already Rehabbed

Fulled Occupied at $500/mo all 12 mo leases

Seller pays water, tenants pay electric

Property manager already in place at 7%

If I don't have out of pocket cash at the moment, what is the best way to get this done?  My credit score is 800+.  Any help is appreciated.

[Jeff Kehl]

@Ryan Johnston a partner would work if you want to do that. I'd be interested if it's in a decent area.