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Updated about 6 years ago,
Seller only wants cash - how do I finance??
Hey folks, bit stuck on this deal and would appreciate any advice.
Purchase price: 60k
ARV: 80k
Rental: 1450/month
Property tax: 166
Vacancy: 7%
Capex: 5%
Maintenance & repair: 5%
Utilities: $150/month
Insurance: $70/month
I don’t think this makes sense for HML/Private lenders given how thin the spread is and I have my hands tied in offering 100% of my own cash, nor would I want to given the lack of equity/leverage I’d have.
How do investors close on deals like this? I feel like this will be a similar situation with any off market deal I find..
This could be a fantastic deal if I could find a creative way to give them the cash ... open to hearing any and all suggestions! Thank you!