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Updated almost 2 years ago,
How can I make this work?
I am looking at this multifamily listed at 1.6m, but I can make it work with conservative numbers at 1.3m where 1m is seller-financed and the 300k is taken as a loan. I can support more than 300k with my job, but the 20% down on 300k is 60k, which I dont have much to put down. The only money Id have is if I represent myself as an agent (License with state right now) and get 2% which is about 26k of the 60k needed for 20% down on 300k.
How can I make this work. The seller originally wanted 50% carry, so thats why I dont think 100% carry would work and am looking at a loan.
Here are my numbers