Updated over 3 years ago on . Most recent reply
Lending on Single Condo Unit Within Large Complex
I have the opportunity to purchase two condo units within a complex. Has anyone done the same before? Whats the best route on these?
Reason I am interested in this is because it is on a college campus and can be leased to college students. I can get a 3 bedroom unit for$75k and a 4 bedroom unit for $80k. The 3 bedroom unit can be leased out for approximately $1600/mo and the 4 bedroom can be leased for about $1750/mo. Almost seems stupid not to buy the units.
Are there any hard money lenders that would help finance this? Ultimate goal is to renovate them and then lease for even more.