Need Help/advice On Purchase Of 50+ Unit Property
I'm looking at a 50+ unit property with a nice mix of 2bd and 1bd apartments. Price is $1.75m but I think I can get it for about $1.6m. I've run the preliminary numbers on it and it looks interesting. The problem I have is with the down payment. The seller isn’t willing to carry back anything. I have $110k in savings, a smallish investment portfolio, and about $90k in equity spread over four 4-unit properties. Can anyone suggest how I might be able to raise the funds necessary for a down payment, or possibly suggest a good organization to help me finance this purchase?
Thanks a lot.
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