I’m considering a 20-unit multifamily property listed at $1.6M, but the seller has indicated they’re willing to accept $1.25M. Here's a breakdown of the situation:
Current Occupancy: 80% (16/20 units occupied).Curren...

I recently opened a HELOC and I recall it's at prime for the first year (7.5% currently), and I only paid minimal closing costs.PML or HML I would expect rates >10%, plus points, possible prepayment penalties etc.

This means sizeable monthly payments, but if utilizing with Value Add you can pay off the loan without a pre payment penalty at any time.Hope this helps!

I was mislead and should seek mediation to recover some or all of the earnest/hand/deposit money?

Readers should seek professional advice.

I’m open to brokerage inquiries and excited to contribute my skills to the local market.What I'm Looking For:I'm actively seeking "live and flip" opportunities to kickstart my real estate portfolio in Arizona.

I just choose a different moment before they seek out a Coach or program.I always tell the people I'm helping to do a Deal Analysis in 1 hour and don't seek perfection.

You open yourself to much more risk in not being able to finance out of it and being stuck with hard money and those fees/penalties.

Readers should seek professional advice.

I'm seeking to be in an environment with like minded individuals to learn and network to grow my portfolio and eventually network to collaborate on larger deals once I have a better understanding of the commercial side.