A valuable asset with guaranteed income without paying a dime
After reading the headline, you might be asking yourself —
“How can I really afford a million-dollar, multi-family property without paying anything?”
With the help of Wallace Capital Funding, LLC, one client was able to make it into a reality. However, he first needed to guarantee his own financing so we could then use the Business Funding Analysis (BFA).
This client originally owned ten single family homes in the Birmingham area but wanted to own his first multi-family property.
The type property of interest was a rarity.
With 36 apartment units, the whole property had a HAP Contract, was classified under Section 8 housing, which guaranteed our client would get monthly income directly from the government. It is like buying a business with guaranteed income.
Vacancy rates are also much lower for those investing in Section 8 properties. This is because renters are more likely to stay and renew year after year. And in many markets, Section 8 properties attract a long waiting list of interested tenants.
We have established how great this opportunity is but how do you get into a property with no money down?
The first step is to determine if you and your business can qualify for additional funds using the BFA.
If you don’t remember from our last article, the BFA is a tool that Wallace Capital Funding LLC uses to pre-qualify business owners for traditional as well as non-traditional funding for businesses including real estate financing.
The analysis allows us to do the legwork upfront to ensure approval for our clients with no surprises.
Once the property was found, the client decided to obtain the down payment funds. He was approved for the loan almost instantly with the help of Wallace Capital Funding, LLC.
With the loan secured, the next step to guarantee our client would qualify for the property was through the BFA.
After the BFA, the client not only got approved to purchase the property but he didn’t have to put any money down.
In less than 30 days, the client secured both down payment funds and funds for the multi-family property of his dreams.
Can you believe that?
If you are interested in securing the property of your dreams, talk to one of Wallace’s Capital Funding LLC’s experts today to get the process started. You can also join WCF’s mailing list, which can be found on our website or give us a call at 1-800-809-5629 to learn more.
For all of your business financing needs, Wallace Capital Funding can help. Whether you need funding for new equipment, business real-estate, or to cover staff expenses before your contract payment comes through; Wallace Capital Funding, LLC can create a custom funding solution that’s right for you.