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Updated about 4 years ago,

User Stats

10
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5
Votes
Lisa Sullivan
Pro Member
5
Votes |
10
Posts

need creative financing advice

Lisa Sullivan
Pro Member
Posted

Just found a six unit complex for sale in my neighborhood (which is hot for multifamily).  I think it is overpriced a bit, and rents are under market.  I have excellent credit, and I own 7 units already, all are occupied and systematized, so doing well, but I'm trying to stack - my last purchase was a triplex.  I have run out of cash for the down payment etc. and have 4 mortgages so conventional financing will be tough if not impossible.  I want to approach with a creative financing offer (I found out a Danish investor bought many multi's in this area about 3 years ago - sounds like they may be able to finance for the right terms).  I've never done this before, all my mortgages are conventional so far.  I don't want to get ripped off!!!!  How can I structure an offer that is fair and creative?  I need something that is no down, or at least low down payment, decent interest rate and maybe some sort of balloon (or refi option) in 5 years?   Ideas?

  • Lisa Sullivan
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