Updated over 9 years ago on . Most recent reply
Beginning to start a multifamily real estate company
Being a first time buyer, i have found a duplex. It is in a rougher area and needs a little work. I imagine i could get them from their asking price of $38k to $28-30k. If i put $10k in it I could easily sell for $50-60k, in my own estimations. The realtor says the units stay rented but I know they are trying to sell them. My first question is getting a loan with $10k for improvements possible? My second question is being a totally naive investor, what would a $40k mortgage be with expenses?