Posted by Steve-Atl on May 04, 2000 at 08:56:31:
Consider this approach:
Get an option on the entire deal for say $200k with large down payment and balance financed by seller. Find cash buyers for the commercial property (a steal at $90k). Use the $90k as down payment to seller to finance the remaining $110k at a low interest rate. That way you end up with the apartments with no money down.
The numbers above are intended to illusrate a point. You need due diligence to determine several things (i.e. is $90k really a steal?) This approach depends on selling the commercial property quickly, therefore it needs to be a real deal.