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Updated over 9 years ago on . Most recent reply

User Stats

27
Posts
3
Votes
John Barnes
  • Investor
  • Palmetto, FL
3
Votes |
27
Posts

Need 40k for Duplex Investment

John Barnes
  • Investor
  • Palmetto, FL
Posted

Hi,

My name is John, I'm an investor based in Central Florida.

My business partner and I have agreed with a seller on a 60,000 Duplex purchase and need to borrow 40-45k to purchase the property. We are looking for an option without the huge out of pocket closing costs that traditional lending will require (almost $5,000 here at 5.0% APR).

We could pay this note off aggressively in 3-5 years if need be, or if we can get a good rate, would consider extending it.

The property is rented at $1100 total with market rent closer to $1200 total so the deal is good. Both buyers (myself and my business partner) have income over $60,000 and credit over 700 if that helps, no worries on paying the note down.

Please let me know if anyone is interested in this opportunity or has someone in mind who might be interested in this.

thanks,

John Barnes

941-914-7393

or

[email protected]

Looking for

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