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Multi Family (5+ Units) Moderated by: joel, commercialking, woodsong, ypochris Forum First Timers Click Here
Real Estate Investing Forum Index / Multi Family (5+ Units) / New- How Structure Small Deal

Author	New- How Structure Small Deal
investngod 1 Posts Member Since: 05/08/2008Join investngod's Network What's My Favorites Network?	Posted: 16:50 on 05-08-2008 Sale price 250000 owner willing to finance $100000 Do I need to put anything down -- will bank or lender look for skin in deal or can I get away with no money down in some way? Thanks much. PS Yes, it cash flows, etc. I've run those numbers. Profile of investngod Edit/Delete Post Quote this Post Report this post
finniganps 1822 Posts Member Since: 07/25/2005 Walnut Creek, CA Join finniganps's Network What's My Favorites Network?	Posted: 19:47 on 05-08-2008 Give your information to your bank or mortgage broker and they can tell you. I think you're going to have a hard time though if you don't put any money down today. You'll either pay a high interest rate, points, both, or get turned down. Profile of finniganps Edit/Delete Post Quote this Post Report this post
dirtman89 182 Posts Member Since: 08/04/2003 Derry, NH Join dirtman89's Network What's My Favorites Network?	Posted: 22:42 on 05-08-2008 The real question beyond the seller's terms is "Is this a good deal?" I have made the mistake before where I could get into a deal for low out of pocket money and I ignored some of the demerits of the deal. My weakness has been on subject to deals where I just take over the loan and reinstate and give the seller cash. I got caught with a huge prepayment penalty that I didn't verify when I bought. In your case, why is the seller willing to hold such a large amount? Profile of dirtman89 Edit/Delete Post Quote this Post Report this post

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Real Estate Investing Forum Index / Multi Family (5+ Units) / New- How Structure Small Deal

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New- How Structure Small Deal

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