Real Estate Broker · Chattanooga, TN · Member since 2016 · 25 posts · 4 votes
Hi!
I have 4 single family rentals under contract and am looking at options for financing their purchase and renovation. They're all together in a nice little village setting in Rossville, GA. All are 2 bedroom / 1 bath, under 800sf. They are all occupied, one of the tenants has been there since 2007! Here are a few details, please message me with any questions:
Contract price: $107,000
Renovation budget: $23,000 (All new roofs & gutters, HVAC replacement/repair for 2 units, plumbing repair, wood deck and exterior siding repair, tree trimming for several large trees on the property)
Gross rent: $1,800/month ($440,$450,$460,$460)
Property taxes: $951 in 2016. Property insurance is out for quotes now.
Strategy: Buy, renovate, hold long term
I'm talking with a few local banks/credit unions about doing a loan. They have great terms but only go up to 80% LTV. I'm interested to see any options out there with a higher LTV. Let me know if you are interested in lending on this and I will answer any questions you may have.
Real Estate Agent · Atlanta, GA · Member since 2015 · 295 posts · 117 votes
9y
Hey Ben, may sound like a simple question, but how did you find a package deal like this? I'm interested in buying people's portfolios to help speed up my acquisitions but it seems hard to find. I know this may not be your exact situation but I thought I'd ask. Thanks
Professional · Roseville, CA · Member since 2017 · 174 posts · 31 votes
9y
Hello Ethan,
Hello my name is Melissa McGuire I'm with Vanderbilt Commercial Lending Inc. We are located in Northern California. While we mostly focus on multifamily offerings 1 million dollars and up we have recently have added programs which I believe would fit the bill nicely, If your interested please email me at the address below, Thank You