First deal financing duplex with tenants.

[Jeremiah Crampton]

A family member backed out of financing our first deal so we are back at square 1 for fuunding. DUPLEX OFFER PRICE $150,000 2200ft 2/2 on both sides with garages. It needs kitchen updates and the carpet is old. Has long term tenants. New roof as of last week. $750 Rent per side AS IS. COMPS AROUND $190,000 IN THE AREA ARV. OUR OFFER HAS NOT BEEN ACCEPTED YET BUT WE NEED TO GET FINANCING FIGURED OUT. WE HAVE A FEW POSSIBLE INVESTORS BUT THE LOCAL BANKS I‘VE SPOKEN WITH HAVE SAID WE CANT USE BORROWED OR “INVESTOR“ MONEY FOR THE 25% DOWNPAYMENT...??? THOUGHTS? (IM NOT YELLING, THE APP STOPPED LETTING ME USE LOWERCASE HALF WAY THROUGH THE POST.)