I am seeing a lot of distressed Multi Units bought by my competitors paying cash...How is this done?

In Buying Property - Asked by Adebo F. - May 29, 2011
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Answer(s)

Babby K.
Broker/Agent
Bakersfield, CA

Well there is several ways to do this. When the property have enough cash flow and it looks a good deal in value rather than available comps, it is easy to get financing includng private lenders.Ultimate rule is you need to try. You need to play to win.

May 29, 2011
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David C.
Lender/Mortgage Broker
Newark, NJ

many wise investors have learned to use a Securities Based Line Of Credit, thereby eliminating the need to go to banks for loans.
You can learn about inexpensive SBLOC's at: http://newprivatelenders.com

Jun 6, 2011
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Stephen N.
Hanson, MA

There are a few ways to bring yourself up to the level of seasoned investors. Establish some good relationships with hard money lenders. Two, Private money lending (Roth IRA, Traditional, Savings, HELOC's).
Three, be very sceptical of people that are willing to lend you money right away and do your own due dilligence. Fourth, KNOW YOUR EXIT STRATEGY... make sure you know exactly how you are going to aquire the property and then when you do what are you going to do with it! Very Vital Step! Good luck!

Jun 9, 2011
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