My broker calls me and says “you put together the deal, he will most likely finance all of it. He wants to sell these.” Here’s the scenario…
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5 - 4 units apartment buildings. All built from '85 to '89. In great shape and willing to sell ALL of them to me.
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Wants $250,000 for each (1.25 million) no bargaining on the price
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Rents are $1850/month
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taxes, insurance and budget for replacement’s come to $923.44
With ZERO cash flow on my part, that leaves me roughly $952 per month to service debt. Which in essence is the equivilant of purchasing a property less than half the value of what he has to offer.
I have nothing to give him! HOW CAN I MAKE THIS HAPPEN?