Funding Needed for Virginia Cash Flow Deal

[Johnie Hopkins]

I am in need of funding for a rental property deal in Petersburg, VA. The offered purchase price for this 3/1 SFR is $23k (~65% market value). With rent at $950/month, I do not want to pass this up so am flexible, though my desired terms are 5% interest with no less than a 5-year balloon payment.

Please help!!!  I have another, similar deal coming close in this area, as well.

[Troy Kannegieter]

hi Jonhie

What is the address FYI houses in Petersburg sell for about 57% of tax assessment so when say 65% of market value where are you getting that number.

950 is a very good rent number if your other numbers work out you also need to be careful in Petersburg it is very pocketed with areas that are good and very bad.

Hope some of this information is helpful.

Troy