Syracuse Investors - Creative Financing

[Maddy C.]

Would love to connect with seasoned investors in the Syracuse area who can walk me through how they structure / analyze cash deals. For buy & hold, is it possible to pay back HML/PML without refinancing? I'm nervous to do a big renovation but will need to incorporate creative financing in order to scale.

Do you ever find sellers open to seller financing / sub2?

Currently searching for cashflowing SFR under $80k on a conventional 30yr mortgage. Inventory has been very light lately. I had one under contract in December but it fell through. $60k pp, tenanted at $1250/month - would have been a great deal. Would prefer to use creative financing going forward.

I've already joined OCREIC :)

[Greg Miller]

Hi @Maddy C.,

I do a decent amount of BRRRR and creative financing type stuff in the Syracuse area. I've done more PML than HML, and I think you'll find them much more flexible. I'd start with friends and family - you'd be surprised how deep that well can be!

I think many sellers would absolutely be up to help with creative financing. I’ve had more luck with owner carry second mortgages than outright owner financing although I’ve done both. What areas are you looking at? PM me if I can help in any way. I’m a full time investor with about 130 units and love to talk shop!