All Forum Posts by: Willie J Baxter

I live in an apartment with 4 rental units and a studio. Over the past few months the landlord has been trying to sell the property but nobody has actually bought it. Maybe the deal would always fall out of contract after the inspection. I was wondering if I should negotiate a decent price with the landlord and assign the contract to end buyer. How do I even start the conversation as a tenant? How would I seem credible at all? Should I do my research and still aim for 10k on the deal? I have a lot of questions and still have the anxiety of doing my first deal

I want to put the smallest possible down payment down with an FHA loan on a multi unit. I've been trying to save up for what could potentially go wrong like cap ex things. Should I just jump into it and try to invest in my first property with not much experience besides the many investing books I've read? And also, what could possibly go wrong if I'm leveraging from the lender? Wouldn't the property just foreclose and make me free from my debt? I think I have a lot of analysis paralysis.

I used dealcheck on a multiunit in the area and played around with it till i could cash flow positive $250/mo. With a 3.5% fha loan i would still need about $14,500 for a down payment. Any advice on creative options to finance this. I have never had an actual deal done. Currently work a day job and have no capital to start off with. Should i just call the agent and see if the seller is willing to finance somehow? There's a lot of things im unsure of and any small mistake will hurt since things are tight