Hey guys, I found a deal to purchase a 3/2 manufactured house for 48K Cash.  It currently rents for 680, and can probably rent for 750 or sell for 70K. I've never owned property and have less than 10K in my bank accou...

My options are Make offer stipulation I can get financingWait and hope it doesn't sell and remake 40k offer with owner financingObtain private loan (already tried family and friends, all too risk averse and uneducated) make low cash offerFriend of a friend put me in touch with some bigwig hard money lender with a legit company.

Properties that are 1-4 units are typically sold based on comps, not on cashflow.

As I did, I'd recommend that you have the Lease-Option Contract drawn up by YOUR local attorney, and make sure seller's signatures are notarized and recorded against the property title at the counties registrar's office, so that it cannot be sold to anyone else while your purchase option remains active.

Any private lenders out there that can do something like this?

If I sold it today, I would not make much equity at all after realtor commissions...maybe a couple grand, so is it worth it, or hold onto it and suck up the losses???

Second, if we sold, how much equity would we get out of it?

I know many people that invest in private offerings but also invest directly in real estate.

Private message me the name of the case worker and I have it or at least the email of the supervisor.

To my dismay, one of the old managers of the complex informed me that the owners had just sold the property to someone else!