6 Unit Multi Family in GA Needs Private Lending Help

[Ryan Johnston]

Hi All,

I am a residential real estate agent who has bought and sold multiple personal properties but have never taken on a commercial loan or private money. My cash is tied up at the moment and I am trying to find suggestions about how to best structure the deal. The seller either wants to outright sell or will owner finance with a minimum 50k down so he can move to his next project.

Purchase Price $165,000

6 Units All 2/1s Already Rehabbed

Fulled Occupied at $500/mo all 12 mo leases

Seller pays water, tenants pay electric

Property manager already in place at 7%

If I don't have out of pocket cash at the moment, what is the best way to get this done? Will private lenders do as little as 50-60k loans?  . Any help is appreciated.