RE: Apartment building financing - Posted by Samuel Addo
Posted by Samuel Addo on September 07, 2004 at 11:16:54:
I am new in the real estate business and my offer price of $4.2 million has been accepted by the seller. The seller’s original price was $4.5 million. The seller wants to know the source I will get financing and also he wants to know my background as an investor before he will work with me. This is my first deal and I have no background as an investor. I want to assume $3,268,000 the 1st morgage on the property. An associate advised me to get partners and I do not know how to get partners. Any advice how to finance this deal?