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Updated over 7 years ago on . Most recent reply

Account Closed
  • Real Estate Agent
  • Frederick, MD
8
Votes |
74
Posts

Money down on 4/4 Condo in Raleigh? New investor.

Account Closed
  • Real Estate Agent
  • Frederick, MD
Posted

 I'm a brand new investor looking to acquire a condo near the university that my son attends. I found one that's at 4/4. I am currently Inquiring about more information on it. It appears that each room rents for $450. They are asking 139 for the unit. Pretty much a turnkey unit. The only problem is most students have their housing set by this time of year.

While I gather more information I'd like to know what sort of creative financing can be done to not lose out on this property? 

Any professional advice would be appreciated. Thank you.

Most Popular Reply

User Stats

379
Posts
180
Votes
Greg Downey
  • Lender
  • Springfield, MO
180
Votes |
379
Posts
Greg Downey
  • Lender
  • Springfield, MO
Replied

Seems like it passes the initial sniff test. Could you tough it out with some vacancies for a short times since school has already started?  You many not be vacant all that long as it only takes so long for roommates to get tired of themselves.  Why do you need "creative financing"?

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