Help Needed, Please
Okay, first the facts: - Currently own - four 4-unit properties (purchased recently, about $75k equity total) - Income from regular job is in excess of $100K Now the problem, I've found a number of larger interesting properties in the $500k-$2mill range in upstate NY. But I don't have any cash right now. Could anyone possibly suggest an approach to how I might be able to find help to finance the purchase of one of these properties? :-S
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I have same problem too. To give you any advise, I think we need to have more facts on the property that you are interested in purchasing....
Have you considered partnerring with another investor? Let them bring in the cash needed and you find the deal(s).
You can run an ad in your local paper "investor wanted" and see if there are any takers.
...just a thought.
Good Luck!
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For the equity that you have in the properties take out a HELOC on the 4 units. Then uses the funds as a down payment for the property that you are interested in. If you have any questions feel free to pm me.