There is a main building with 5-6 bedrooms.

I'm renovating the entire first floor which has 2 bedrooms, brand new bathroom and brand new kitchen, the master bedroom is in the second floor and it's not bad so I'm leaving it alone.

I looked at an interesting but complicated fsbo, multi property yesterday and I'm considering an offer.It was built as a 6 unit with 2, 1/1's underground, with legal egress windows in the bedrooms.

I am in the position to pay cash for one property in this price range but realize that wouldn't allow my money to be working as hard as it could compared to leveraging the bank's/lender's money.The Question: To those creative and experienced out there, I feel there might be a solution to my goals in buying my first investment property in cash.

If you guys have any creative ways or better ideas on how to go about purchasing this property I would love to hear feedback.

If you are talking about paying $50k, for a property that is worth $100k, that are some creative ways to do that,,,if your talking about $85k on a $100k valuation,,,you won't be pulling any money out anytime soon.Mortgages on investment properties are typically 75% of the appraised value (again, on investment property, not your personal residence).A couple of years ago you could work something like that if you found a super deal,,end up pulling cash out,,unless your market is a LOT less competitive than Dallas,,your not going to be paying 60% of appraised value (unless it needs rehab, but then you have to add that cost in)

Do I need to find an investor friendly mortgage company here in Indy that deals with creative financing and deals of this nature?

I don't think I'll be able to get away with that because most 3 bedrooms in my area rent for $1200.

Sometimes the winner was just gave a little more effort or was a little more creative.

Thanks for the creative idea!