If you want to wholesale it, you would need to put it under contract and then find an end buyer to sell it to. Do you have any buyers looking for multi family properties? If so, what price would you have to get this property at to make it attractive to them?

I would recommend taking some time to study your market, line up some buyers, and once you have done that, start making offers. It’s much easier that way..

Steph

Would it be better just to flip it , Then if so what is the best way to do that or how shouid I start out.

To answer your question- if you want to purchase the property to hold and you don’t have the cash to buy it, you would need to line up financing if some sort- whether it be a conventional loan, hard money (probably not the best idea if you plan on holding long term), or with funds from a private lender.

Whichever route you decide to take, you’ll need to have your funding lined up ahead of time, as the bank will want to see a pre-approval letter from your lender when you make the offer.

If you’re interested in obtaining private money, I would contact Patrick Riddle- he’s an expert on the subject. His website is http://www.mustknowinvesting.com.

Hope that helps,
Steph

hope you are not in that crowd Today getting knocked around for a Tickle – Me- Elmo lol .

I need your assistance I have just come across a Multi- Unit and it is a REO the problem is at this point in time my finances are not the best . I am taking care of my wife who is just recovering from a stroke . So you know credit is also not the best. I guess I would need the 123 of how to acquire the property for a rental .

Thank You

Hope you had a great day, Sahe!

Happy Thanksgiving to you, too!!
Woof Woof! (Jim says “ditto”).

P.S.
Knock it off with the guru comments.

Beer bread- now that’s another story.

Have a great Thanksgiving Erby!!!