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Updated about 3 years ago on . Most recent reply

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6
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2
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David Matti
2
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6
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How do I find an investor?

David Matti
Posted

I have an incredible opportunity to purchase a turn key rental business but would like to know the options available for financing besides using a bank.

Most Popular Reply

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57
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20
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Samuel Albert
  • Property Manager
  • Burlington, NC
20
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57
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Samuel Albert
  • Property Manager
  • Burlington, NC
Replied

Do you know anyone with a large savings that could help finance it in return for a percentage of the cash flow? If you can bring the financials to them and show them that its a solid deal and that they will get more than if their money was just in a savings account, They might be willing to put up the funds. You might even approach the owner and see if they'll seller finance it. you might be able to do no money down and a 5 year balloon and pay the owner off with a bank loan. There are also hard money lenders but those are typically higher interest, short term loans. I think biggerpockets even has a vendor list of hard money lenders. so you could start there if thats the route you choose. Just dont let the fear of getting told no prevent you from taking the next step. Good Luck!

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