All Forum Posts by: Breon Fuller

Hello BP fam. I came across a deal for an 8 plex. They are asking 180k. The owner has owned and self manage for the past 20 years. It is fully occupied with rents at $480 a month. My agent says the rent hasn't gone up in years and could rent for about $525 now. The electricity is individually meter but water is shared. I live out of state and will use a property manager. By my analysis its a good deal on the surface. The problem I'm having is trying to determine how much cash I would need to secure a commercial loan. I only have one rental at this time and 6 months experience. Would a commercial lender disqualify me due to my experience level?

im glad to be here on BP. I'm want to invest in Atlanta GA Jacksonville FL and Vicksburg MS. I'm  here  to gain knowledge from more expierenced investors.