Sales have been such a rollercoaster here I want to explore different avenues as well.

Hey i was wondering if anyone knew any dscr lenders that would be willing to take the 2nd position on a loan, i have a property in Oakland california where the seller is willing to finance 85% of the purchase price at 5% interest, The asking is almost 4.6 million on an 18 unit apartment, i dont have the down payment for the remaining 15% which would be 689,250. the seller is willing to come down on the price and at market the apartment brings in 41,255 per month, tenants pay thier own expenses. i tried calling a couple of lenders but they said they wouldnt take the 2nd position or would only finance until 90%.

It’s been few years.. wondering if you found one.

The only place cap rate even enters the picture is sale projections.  

Fees of sale are: $375 (resale certificate) $225 (transfer) $850 (cap fee)6.

The rule states that your rent should be at least 1% of your property’s sale price.The 1% rule or guideline is a helpful tool, but should not be your main metric of success when analyzing an investment property.

I am wondering if there is a loan officer or anyone else in my area that specializes in or is knowledgable on this topic and would be interested in meeting with me.

The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money.

I don’t necessary have to get them all at once but hitting that target would be wonderful. 

I think you would have to make a spreadsheet and pull the average/median sales price & average/median rent for a neighborhood to compare.