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Updated over 6 years ago,
1st Self -Storage Deal. I NEED Advice
I’m a newbie in the self storage business and I’ve managed to negotiate a deal that includes seller financing. Here’s the deal:
Purchase price - $900,000
Down Payment- $500,000
Balanced financed by owner $400,000
Terms 3 years interest only @ 6.5%
Earnest Money $10,000
Due Diligence 45 days
Closing on or before October 23, 2018
My situation: NO capital to invest, bad credit.
How do I close this transaction without putting any money down?