Quote from @Jaren Taylor: Quote from @Chris Mason: If you have the ability to market and raise money, then you secure the down payment, and do the normal commercial mortgage process. 

You can not do a pet deposit unless your security deposit is less then 1 months rent.

Purchase price: $77,000 Sale price: $85,000 Contributors: Peter Vekselman Partner Driven teamed up with Jamari Sprueil to secure this off-market deal in Decatur for $77,000.

Given the competitive market at the time, every property was receiving multiple offers, and securing a deal required both strategy and speed.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

I liked the tenant, school is starting back etc, I told them they could pay first month and security deposit and I would let them have the rest of August for free.

(Either with the roofing company, a heloc, or a personal loan.)Either way you will probably be way ahead on interest saved unless you have a sub 6% interest rate.

Purchase price: $160,000 Sale price: $170,000 Contributors: Peter Vekselman Partner Driven and Jamari Sprueil secured this Dover Ct property in Riverdale, GA, for $160,000 and successfully sold it for $170,000 on the same day.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

GSP REI is a diversified real estate investment company based in the Philadelphia area.