Posted by Ernest Tew on March 27, 2002 at 19:42:04:
With only a small down payment, you may find it difficult to get institutional financing on a property that needs a lot of work.
Why not bring in a joint venture partner to put up some of the money and make a larger down payment? It would be even better if your partner is experienced. Financing would be more readily available, the venture would be less risky, and you could learn from your joint venture partner.
park financing - Posted by Dwain Decell
Posted by Dwain Decell on March 27, 2002 at 15:01:18:
I am looking at an estate that has 15 houses 3 duplexes and 65 mobile home lots. 15 of these lots need to be developed. Purchace price is 900,000. Needs about 150,000 to bring it up to standard. The after improved value is 1.6 million. The projected gross cash flow is 25,000-35,000 a month. I would like to get into this property for little down. With these numbers is it possible to get financing with little down? If so can you give me names of companies?
Thanks
Dwain