Financing Sought for the Rehab of a 12 Unit Property
We're planning to submit an LOI to the owner of a property in Williamsburg, VA in the next week or so. The family is looking to sell an inherited property that needs a complete rehab.
The property itself consists of four duplexes, three SFH, and two storage/garage structures on 3 acres of land minutes away from Colonial Williamsburg and the College of William & Mary.
We anticipate the all-in price of purchase and rehab of $1mm and gross rents after stabilization of $12,000 per month.
The plan is to conduct the rehab in phases, from the front of the property to the rear, so we can begin renting units as they become available and start bringing in cash flow.
I look forward to hearing from you.
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