Ideas For Creative Money Down Deal
I need suggestions or ideas to put together
"No Money Down" deals on commercial properties.
I am currently looking at purchasing three commercial properties, all of which are cash flowing on a regular basis. The three properties are:
1) 15 unit apartment complex 96.% occupancy
8.27 cap rate, price $825,000 and owner will take
some paper.
2) OceanFront Hotel 62 rooms 50% occupancy
9.65 cap rate, price $3,500,000
3) 16 houses on a lake price ($2,595,000), all homes
are currently rented with a monthly income of
$12,500 owner will carry note with $500,000 down
After looking at the numbers and the financial
information on all three properties I believe that all
are good solid investments with room to increase
the revenue on all three. I would like some ideas
and/or suggestions on putting together a "No Money
Down" deal on all three. One property is out-of-state
so there would be some traveling involved.
Thanks in advance for all of your input and suggestions.
[ Edited by walterwright on Date 09/17/2006 ]
all are owned by 1 owner?