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Updated about 9 years ago,
MultiFamily Deal Structuring Advice!!!
Good Afternoon Guys!
I really need some advice!
Just a little background: I found a gentleman who is looking to sell a multi family property off market (4-plex) that he owns. He is asking $210,000 (but I'm thinking of offering him much less than that) and he has $70,000 in equity.
He really wants out and is motivated to sell within the next two weeks. Two of the four units are currently rented and the other two are being rehabbed right now.
Asking - $210,000
Rehab- $20,000
2 units rent- $600, and $1,200
Market rent for vacant units- $940 each
I want to close on this deal but I am unsure how to structure this deal as I don't have $20,000 for a downpayment that he is asking
How would you guys structure this?
Thank you!