A four unit plus bonus house: rehab options
As the song goes I'm looking for someone to watch over me: I acquired a four unit in my local area which needs a full replacement of the plumbing drainage system . I got a steal of a deal (27K) because of the plumbing problems and poor management. And the vacant 2 bed /1 bath house in front was purchased from my family member for an awesome price. Total rehab 70k ARV in this low income ( C) area 160K -four plex, 70k for the bonus house. Income estimate 2600 per month. I have deed and title work on the Fourplex and quitclaim deed for the house. Looking for private lender 70K @8% for 8 months- one year. My bank will refinance once the repairs are done. Pics and analysis available. 15 years eexperience in managing rentals.
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