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Updated almost 5 years ago,
How to Fund my next purchase
Hello BP.
I've recently come across 3, 4-unit buildings that are all in need of some updating and bringing up to market rents. Since I recently purchased a tri-plex(conventional mortgage) I only have about $20k in cash left over. I've asked the sellers if they would be interested in seller financing but neither of the owners wants to because they are older and just want to cash out. Any thoughts about how I could go about funding these properties? Each building is roughly $225k, I should be able to get about $750 for rent in each unit, right now they are only renting for about $600-$650. I'm anxious to expand my portfolio but I'm not sure what type of funding that I would be able to use to acquire these properties.