Buy and Hold opportunity here in Union City, CA

[Jerrold Meer]

So I got a call from one of my agents who's actually a close friend of mine about a condo that's not yet on the MLS and he tells me it's a great opportunity for cashflow. It's selling for $275k 2 bd 1 ba condo with cashflow of about $300-$400 after taxes.

I guess my question is this, I don't have the money to get this deal and he's only asking about a 3% down, should I try to get a hard money loan or maybe ask a private lender around the area??? I won't get approved for a traditional mortgage so I'm stuck with these options and these options only.