Mixed Use Property in Eastern PA

[Tyler Drapeau]

A partner and I direct mailed Easton, Allentown and Bethlehem, Pennsylvania area. We have one amazing lead. The property had 4 residential units that rent for $3,100 per month plus a commercial space that were deciding what we’d like to do with it. The taxes are $2k and he wants only $225k for the building. The numbers are great! It’s on a main Street, only 3-4 blocks from the action in downtown. The owner is willing to finance a second for at least 25% but he needs some cash (don’t know the # yet, still tactically prying ) to pay off debt so he won’t finance the whole thing. No bank I am working with will give me the other 75% without skin in the game. Where can I get this other 75%?! Any help would be greatly appreciated.

[James Perdomo]

@Tyler Drapeau

Deal sounds good. Nice job. I would reach out to some local banks and see what they can offer. I personally work with first keystone community bank in stroudsburg, i would give them a try. If not, call 30 other banks with some sort of a proposal and business plan and im sure you can figure something out. You could also do hard money short term, try to add some value and refi into a long term loan. Let me know if you have any questions and good luck!