Trying to purchase 2nd multi

[Shamus Gamelo]

I’m in need of some pretty hasty advice. I might just be thick headed here but as I was looking into refinancing my first multi the h/o next to me calls and tells me she is interested in selling. But I’m in Fairfield county (mentioning because I could hardly afford the first one) and this being my second investment property I have to put down 25%. Is there a way around this?

[Tj Hines]

@Shamus Gamelo, first and foremost figure out WHY the homeowner wants to sell. Are they distressed? They need to get out now? Relocating maybe? The deal may not make sense depending on what they're looking to do. Are they looking to sell retail turnkey? Would that fit your business model? A lot of questions need to be asked before even determining it's worth buying or not. Of course we don't know whole the situation. You do. But if you don't, take the time to figure the situation then create the solution. Hopefully this makes sense. Good luck.