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Updated about 16 hours ago on . Most recent reply

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20
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8
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Diandre Pierce
8
Votes |
20
Posts

I need help

Diandre Pierce
Posted

I have 6 rentals all cash flowing and a primary house appraised at 1 million that I paid 600k for. I bought all these houses using a method in which I utilized life changing events to buy new primary houses where I put 5 percent down so don’t have much equity. My uncle is trying to sell me a mobile home park for 500 k that profits 84 percent . I need help getting the financing and I’m not sure where to go from here 

Most Popular Reply

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406
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337
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Mike Grudzien
#5 Short-Term & Vacation Rental Discussions Contributor
  • Lender
  • Eugene, OR
337
Votes |
406
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Mike Grudzien
#5 Short-Term & Vacation Rental Discussions Contributor
  • Lender
  • Eugene, OR
Replied

You sound very, very leveraged.  Which is not bad, but extending out even more could come back and bite you later....

  • Mike Grudzien
  • Loading replies...