And advise on funding for this property?

[Austin Shuster]

I want to buy a property that's $714,000. The cap rate is 10%. The apartment is 16 units. 134,500 gross and 100,000 NOI It's located in NY. I have no clue how to find funding. Any advise on funding options? This is a deal I don't want to pass up.

[Eric Schleif]

The expenses are most likely underestimated. Are you able to analyze the property and put together your own pro forma? The true NOI is probably somewhere in the $80k to $90k range but take that with a grain of salt since I have no details on the property.

Your bigger problem is that your essentially seeking 100% financing for the acquisition. I don't know who would lend it to you but maybe someone else on BP has an idea.