Posted by Ronnie (Tx) on June 15, 2005 at 13:30:09:
Sure. What kind of relationship do you have with your local bank? If you set up a proper business plan and as long as the math adds up, often they will finance it. The trick that they need confidence in you. Can you do what you say i.e. manage the building, collect rents and make it profitable. Usually when complex is for sale, it is because it is not making money. Can you prove it can make money?
Another way to fincance with no money down is collateral. Do you own any other properties? Sometimes the bank with take another property or a note as collateral for a loan. If you are not willing to risk that, then you are probably not very confident in the property to begin with. Just my thoughts.