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Buying & Selling Real Estate

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Mic Nguyen
  • Residential Real Estate Broker
  • pensacola, FL
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45
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Should I buy this?

Mic Nguyen
  • Residential Real Estate Broker
  • pensacola, FL
Posted Sep 19 2012, 22:18

I have a deal I think is very profitable. I have an option on a 2 story 4 plex. 1100 sq ft each. Purchase price is 90k and needs 30k in rehab. Going rent in the complex (5 other buildings in complex) is 650.00 per unit after rehab. My only concern is that I would have to move all in on this property. All my cash and credit card advances as I can not get a loan due to debt to income ratio & maximum fannie mae properties financed. I would probably take 6 months to build a solid reserve again.

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