All Forum Posts by: Freddie Williams

@Jerry Padilla can u lend on less than 50k. If so how much. Thanks.

@Karen Schimpf Thank you Karen for the advice. The property is a 6plex. Each unit will rent for 400k. Only half full (3 units rented) at 375 each right now. Owner has a loan for 89k. I negotiated 110k purchase, with 5k down 3 years rent to own. What would your suggestion be for this type of deal. Do you think I am going about it the right way. I would like for him to do a land contract or something to that effect, but he has an underlying note for 89. Thanks in advance.

@Karen Schimpf Thank you for your advice. I definitely will make sure to send payments directly to the lender. Want to ensure that insurance, taxes etc is paid. @Rod Khleif I spoke to the owner his main reason to sell is because he does not have the time or money to keep up with the property. Property does need rehab but on a minor scale., nothing major except updates. I believe it a good opportunity because it is next to a university and is rented by students. Has a lot of potential.

@Todd Dexheimer Master lease? Its not free and clear it has a mortgage on it and the property does need rehab and stabilization. So the 2 you have done, they were free and clear?

@Wayne Brooks -

With a lease purchae you can’ “refi” as you don’t own it.

@Brent Coombs He is already willing to do the deal. Just trying to figure out the best way to do it, this will be my first commercial deal.

How would you structure the purchase with owner financing of a 6 unit apartment complex. Would you do lease to own, land contract, etc. I would like to structure purchase to reduce down payment when I close or even better to take it to a bank to consider it as a refinance.....NOT PURCHASE WITH DP.

Thanks to all in advance.

When looking to invest in multi units in other markets, does demographics of the area or city have an impact on making a decision to invest? Just a thought....