20 units not operational for 3 years
Hi BP community,
We are looking at a 20 unit MF deal that has not been operational for past 3 years. It needs electrical issues, interior, exterior, AC,new roof etc. I believe this unit need a CFO and the building need to be brought to latest code, since its has not been operational for more than 2 years. I am assuming a 12 month period of no income as we have rehabs plus CFO approval from the city. Anybody knows what are the challenges in this type of deal ? Anybody done this type of turnarounds?
James and Shanti