Posted by Clair-MO on June 29, 2003 at 20:19:33:
Matt, Why not consider a hard money lender for the money based on the appraised value of the property. If need more information on hard money lenders please feel free to email me for addresses.
How to finance this? - Posted by Matt
Posted by Matt on June 29, 2003 at 19:30:40:
Im looking into buying a hotel. I dont have the cash to put into the deal. This is how it stacks up. Listing price is $4.25 mil. I believe I can get a lower price. The real estate and business is appraised at $4.15 mil. The mortgage is assumable at $2.9 mil with 8.25% interest. Gross income is steadily climbing over the past 4 years. It`s currently around $1.2 mil gross and $480,000 net. How can I get a deal done?