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Updated over 16 years ago, 04/13/2008

User Stats

43
Posts
7
Votes
Ryan Kinley
  • Rental Property Investor
  • Cleveland, OH
7
Votes |
43
Posts

Please advise?

Ryan Kinley
  • Rental Property Investor
  • Cleveland, OH
Posted

I am in the pre construction planning for a 7600 sq. fr. steel building.. I am currently having a survey carried out to establish new boundaries for the building... I have to present this to the city council first, then i can have the plans drawn and execute. My question is how can i get financed for this loan of 120 k?.. I currently have one mortgage with the house that i live in and own and run a business... How do i attract investors to obatin a 24 k down payment? How should i detail the offer/contract so it is a win/win situation... I will be dividing this building into 5 1200 sq. ft units and renting them out for around 975.00 per unit. i believe i can cash flow around 3200.00 per month after principle taxes and insurance.
The reason i am having the boundary survey is bc there are two commercial lots that i own and they needed to be reparceled first.

Respectfully yours,
Ryan

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