4 May 2009
Our next major investment?
An opportunity has arisen for us to potentially purchase our second investment property. This is a completely different type of property than our first, but I’ll reserve details for a future post. I don’t want any of you going out and trying to steal our deal before we get it on paper. We’re obviously not afraid to branch out and try new things, whether we know what we’re doing or not.
The only drawback to this deal is that we need about $60,000 up front for a down payment. This specific type of property will require a down payment from probably any traditional lender out there. Fortunately I have recently listened to the full “No Money Down” course from Carleton Sheets. I know, I know that this information is at least 10 years old and very outdated, but my uncle sent it to me, so I thought I’d give it a listen. Although outdated, it still changed my mindset and is helping me to think outside of traditional wisdom.
The sellers indicated that they had no interest in financing the deal, but after we pushed back a little bit, they are willing to “get creative”.
Well, if you know anyone that wants to lend us $60,000, let me know. Otherwise, we’re going to be learning some new tricks this week.
More details to come.
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