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Updated over 7 years ago on . Most recent reply

User Stats

26
Posts
9
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Lincoln Selk
  • Rental Property Investor
  • PLEASANT GROVE, UT
9
Votes |
26
Posts

How can I not miss this deal?? (creative financing)

Lincoln Selk
  • Rental Property Investor
  • PLEASANT GROVE, UT
Posted

I have a great lead on a rental property that I can purchase from a friend. However, I purchased a property in August and don't have the money to move on a property without some creativity. I would love to be able to get this property (I'll spare you all the numbers but it's a great investment). 

How can I get creative/scrappy and find a way to structure a deal on this property? My father-in-law is a potential partner. It seems like there should be a way to structure a deal but I haven't been able to come up with anything. 

Any suggestions would be greatly appreciated!

Most Popular Reply

User Stats

10,250
Posts
16,108
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
16,108
Votes |
10,250
Posts
Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

I have a $240k single-fam rental and am selling as we speak.  It breaks-even, maybe, and the market is good on the sale side.  The smart money in the fancier single-family space right now is selling in my area.

Most of my single-fam rentals are 1%ers at least.  Unless this thing rents out for $2400 a month or more, spend that money on a plex for some cash-flow.

Jack and Jill are just tough to get creative with.  They fear what they don't understand and need the money and loan pay-off to get their next place.   Don't fall in love with a property @Lincoln Selk.

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