Seeking funding for a $145K fourplex in Michigan

4 Replies

Good morning from Hawaii!

I have a four-unit deal under contract in Bay County Michigan. I am seeking 80% LTV financing on a 2-5 year note. Inspections were just completed by a licensed inspector and the property received a clean bill of health.

Location: Auburn, MI

Purchase price: 145,000

units: 4 (2 bed/1 bath)

Current rents: 2,400 (it is fully-occupied)

Taxes: 3,275

Insurance: 1,400

About me:

I am Active Duty Air Force with steady income. I currently have 4 properties, 9-units in Midland and Bay Counties, Michigan; all of my properties produce great cashflow and are 100% occupied. Also, I own my primary residence in Hawaii. I look forward to hearing from some great lenders!

vr,

Vince Gethings

Villanautics, LLC

I can do a 3-7 year term for you. In order to do 80% LTV on a purchase, I'd need your credit score to be 720+. Interest rates will be 6.5% - 9.5%.

Vince,

Do you only buy turnkey properties or do some require rehab. I have a great program for rehab loans.  Additionally, hands off fix n flip opportunities here locally in the suburbs of Chicago(A&B neighborhoods)

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