need downpayment??? - Posted by Maurice S. Dull

Posted by Maurice on April 18, 1999 at 11:13:33:

Thank you very much for the info .I will try them .Have to do something thats for sure.Can’t sit around and let everyone else get rich any longer.Thank you again.

need downpayment??? - Posted by Maurice S. Dull

Posted by Maurice S. Dull on April 17, 1999 at 23:37:34:

I"ve have a deal that will make me a great monthly cash flow at least 10,000.00 dollars.The problem is no downpayment.asking price is 400,000.00 dollars with 270,000.00 assumable owner will carry 2nd of 50,000.00 dollars.That means I’m suppose to come up with 80,000.00 dollars .sounds impossible huh.Its a 40 pad mobile home park thats all filled with newer trailers early80s and up.All I have to do is collect the lot rents at 250.00 amonth.which will gross me 10,000.00 month which will more than cover all exspenses .Please give me some idea’s.I’ve had C.S course for 6 years now and really believe in him.Its time to get off my butt and do something about this now.I live in upstate NY where creative financing isn’t very popularyet but its catching on quick.Thats why I need to get going now.Any info at all will greatly used.Thanks.

Re: need downpayment??? - Posted by pat

Posted by pat on April 18, 1999 at 01:03:05:

1 way to get $80k might be – put together a buisness plan for a bank (they like lots of written paper) start with all your home work get lots of info and put it in a 20 page report - then tell 3 banks what you want–
another might be find a lawyer, Dr, or someone you know with $80k
I would push for the other owner to carry more $ back
put an add in the paper with a 10% return on $ maybe find a partner if all else fails