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Updated over 7 years ago,
Financing Mixed Use Multifamily Installment Purchase
Hi BP,
I have found a fairly good opportunity and turnkey rental being sold by landlords looking to retire. The only problem is I am having trouble financing it. The overall cost is $75k and it is bringing in $1550 monthly. The owners want $40k up front and then will finance two other payments at 5% for the next two years.
I would pay the $40k myself but my money is currently tied up in another deal. I don't think most hard money lenders will want a piece of this since the owners will still hold a lien. Does anyone have any ideas?