All Forum Posts by: Abdurrashid Abdussalam

Hi, all. I have been waiting patiently for years to find a deal of this magnitude. 3 fell in my lap at one time. But one ended up on the market. So there are two left. I need help with this deal. Even some advice or roadmap would be helpful. 
The 2 properties are both over 100 units. One is 140 units and 68% occupied, built in 1972. The other is 126 units and 92% occupied, built in 1974. Both are located around Houston, Texas.
These are typically owned by “groups” so it is a little difficult to get lenders to take me seriously if I want to become the new owner. 
They want an “experienced “ person with me. 
I do not want to lose these deals. I know it takes time and hard-work and I’m willing to do what it takes. 

Thank you once again. I really appreciate you taking your time to break it down like that.

Okay. Thank you JD Martin. Maybe I thought of it from a different angle, but I understand now.

Previously, I used to think "some money is better than no money". I also thought the lender just lends money and sit back, and collect profit. But you are right. I still believe some deals are riskier than others,  and low risk/low amount should be fundable with ease.

I found a couple of deals, both are under $100k... so0 hard to find funding... lenders only lend over $100k. 

After I make it to the top, I will target deals under $100k.