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Updated over 9 years ago,
Need Advice on a deal I have in San Francisco
Hello BP members,
I wanted to reach out to anybody and everybody on something my wife and I are struggling on. We have found a deal in the City of SF and have an agreed price that is under market value and is ours for the taking. We have ran all the numbers multiple times and the property cash flows (from what I've been reading that is hard to find in SF). Our problem is the condo is more then we can get pre approved for. We have been reaching out to family members to see if anybody wants to go in and help us with the 25% down to get us to our approved loan amount and nobody wants to part with that kind of cash. We are offering a very nice return on investment in a short amount of time. Our plan is to BRRRR so we would pay back the investor at time of refinance (9-12 months at 8.5%)
Is there anybody who has ran into this kind or problem and what kind of solutions are out there. We really don't want to lose this deal and feel this will be a strong foundation to our real estate goals for many years to come.
I can PM all details to anybody who wouldn't mind looking at them or is possibly interested.
Thank you,