3Unit Questions
I'm getting ready to follow up on a 3U property that I saw in the Sunday paper. The prop seems reasonable(for here) at $500k, and is located in a nice area. I'm a newbie and I wouldn't even have looked at it, but I have a few other partners that I can bring this too. I was going to call the agent, but I'm not sure of what are the 1st batch of questions to ask. Also, the ad said owner financing, which peaked my interest.
Any help would be appreciated. THANKS!
-Paul
well if it said owner financing that means on a building costing 500k he might want 10-20% down which would translate to 50k or 100k down payment which I guess you could borrow I have not yet tried to borrow that much but I'm sure it happens some where so make sure you ask about the down payment cause "NO MONEY DOWN" would almost be unlikely to carry that much paper do mean to be JERK but I've tried to do something like that and the guy laugh at me so I asked if he would least it to me and I would only take very min. profit he still said no
steadydoses.
Thanks. One of my partners has access to cash, so that wouldn't be out of the question, but I was just wanting to find out what sort of questions, initally, that I could ask to quickly scrren if this is a good deal or not.
THANKS