Updated about 7 years ago on . Most recent reply
Best loan for distressed fourplex
My business partner and I are looking at purchasing a fourplex. List price is 75k but I’m sure could be had for less. Needs about 75-100k in work. Will pull in around 3k of rent per month and be worth around 200. We need options for loan types that can fit this need to fund the purchase and rehab. We’re looking at private and hard money already. The issue with hard money is we have a decent amount of equity in properties but not liquid cash reserves to show. And our properties are not in the position yet to be refinanced to pull equity out. Any info is helpful, thanks!