Opportunity to be lender - deal analysis?
I have an opportunity to the be the lender on a 4-plex REO that will be fixed and filled at 45K in Dayton, OH. The rents are 425/unit conservatively - section 8 rents are 480/unit.
I get paid 12% on the loan - 12 month term. I would also have 1st rights on purchasing the property outright after it is rehabbed and filled.
This would be my first hard money loan - any thoughts would be greatly appreciated!