Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $645,000

95% seller financed, 5% raised, $0 down. 33 unit mobile home park.

just to be candid, unless you're using some kind of creative strategy... you need a really solid amount of cash including reserves. 

I think it should appraise for at least 600k and think 650k is reasonable.It’s fully renovated and fully leased for $5,200/month.I’ve reached out to banks to see if I could use cross collateral to be my equity contribution but at least so far they’ve also wanted 10% cash.I’d like to avoid coming out of pocket with cash.I was wondering if you had creative ideas on how I might be able to get this financed 💗

The design aspect is fun too—you can get really creative with how you furnish spaces depending on your tenants' preferences.That said, it’s definitely more on the lighthearted and quirky side, so don’t expect hardcore realism.

If you want out, you have to either sell low enough where the numbers make sense or one of these other creative strategies.

Lastly, having a reserve fund is key to offsetting unexpected costs, especially with reduced cash flow from the loan repayments.Hope this helps, and congrats on tackling creative financing!

What some of my clients have done in the past is look for more creative rental avenues to be able to charge a premium on rent such as the traveling nursing niche like furnished finder. 

She is transforming an existing structure into a creative studio space, seems cool, and I want her to succeed. 

Sometimes people are REALLY creative about it, and I respect that, lol.

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $1,150,000

65% bank and 35% Seller Financed in second position. Got paid 10k at closing. 35 unit mobile home park...