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Updated over 2 years ago on . Most recent reply

User Stats

65
Posts
24
Votes
Cameron Fowler
  • Real Estate Agent
  • Indianapolis, IN
24
Votes |
65
Posts

Is a property truly out of my price range?

Cameron Fowler
  • Real Estate Agent
  • Indianapolis, IN
Posted

I have found a great 8 unit rental property that needs few improvements and move in ready. I currently am in college so i do not have a lot of money but i have ran the numbers and it is truly a homerun deal. The only problem is that it is listed for 1.5 million dollars. Is this a too far fetched property for me to buy? 

I have been trying to think of ways to fund this deal from private investors and then get a mortgage, but would a bank or credit union even consider to give me a mortgage that high? I want to know what people think on here or what I should do.  

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