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Updated almost 6 years ago, 02/25/2019
Multifamily deal in Carbondale near Scranton. Looking for ideas
Hello. I found this deal 2 properties. One 5 unit and one 3 unit. He was asking 119 for 5 unit and 110 for 3. I got it him down to 200k for both if payed cash. Combine its over 17% net. Properties all rented all in ok shape. Pretty much turn key. There is lot of room to increase rent. Has some section 8 tenants there for 14 years. I was suposed to do this deal with my buddy oversees but he is in never never land. Any ideas? He does not want owners financing and I doubt I can get commercial mortgage since I don't have enough cash for downpaymant. Thank you