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The_Cat_77
How can I get money to put towards a business?
I have been working and putting money aside to buy a mulit-unit place or use the money to invest in a franchise business depending on what options were better when I had all the money. Well I got laid off from the factory I was at and have had to use most of the money I had for bills.
Does anyone know of any mortgage place that will give me a loan where I can use the income from the multi-unit places as income ($150k for 2 buildings with a total of 10 units (7unit and a 3unit). $2100 in taxes for the pair and $4k income a month) or someplace where I can get around $50k or so for startup money?
I have no problem getting a job. But I would rather finaly start doing what I want if I can find a way to get the financing. I dont care if the interest rates will be high or whatever. I just need help finding a way to get the financing.
Here in Nebraska, Mortgage Express offers 100% financing on investment property - you'll find a lot of mortgage brokers have a similar program or are at least willing to start one.
Creative Financing Consulting is for people that do not qualify for traditional bank loans. A professional will show you several other options available to you (usually less traditional means). Some include quick staging, small business hand-off, fund raising and debt-notes. They're really fast and adjust for your time frame, cash flow, and current workload but they usually cost about $500.
ibspecialk21
Well I know a company that helps people get the financing for apartment buildings. I hope this helps you. www.worldclassfinancialgroup.com
Robert W
This project is considered a mixed use project. I have a source that will fund a 90% ltv. If you really want to move on this project please contact me robert_williams30364@yahoo.com. I have a lender with interest rates in the mid 8's and would be extremely interested in your project.
Happy L
You are on the right track to think about passive income besides a job. Be careful in real estate investment that the risk can be underestimated if the market becomes sluggish for rental.
Join local real estate investment clubs or associations to learn more about your local market before you sink a large amount of money in there, particularly right after you lost your regular income.
If you want to look into the new way of franchising (without the huge upfront cost and royalties), you can email me from my profile page to explore more.
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