Triplex Funding / Deal Review

[Caleb Coblentz]

Hey BP,

I was talking with a friend of mine about investing goals recently. He mentioned thinking about selling one of his properties:

-Triplex

-Currently rent is under market. I believe each unit pays around $800. He thinks rent should be closer to $1k

-This particular property is in an opportunity zone. Apparently he can’t utilize the tax benefits but a new owner could.

-I asked about owner financing but he would have to 1031 if he sold.

-He through out $250-300k. There is a dump triplex in the same area listed for $269k. No good comps right now.

How would you fund the purchase? I don't have enough cash for 20-25% down. Would you take out a HELOC or find a hard money lender then refi ASAP?