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Updated about 6 years ago on . Most recent reply

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12
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7
Votes
Bill Fallesen
  • Norfolk, NE
7
Votes |
12
Posts

Need a private lender when I am just starting and found a rehab

Bill Fallesen
  • Norfolk, NE
Posted

Hi, my name is Bill Fallesen and I live in Norfolk Nebraska, I am totally new to this having read Rich Dad Poor Dad and finding Bigger Pockets in the last 2 months. I found a 7 small apartment home that needs considerable work but has a lot of potential. I ran the numbers on the 4-square sheet and it looks like I could have cash flow of over $1000 even after an extensive rehab, (I'm estimating $95,000 which would replace windows, vinyl side, replace roof, and rehab 7 apartments, 4-1 bedroom with baths and 3 dorms that share a bath. I have only run the numbers and driven by the house but have not seen the inside yet. I emailed the realtor but have not had a reply yet. Would a private investor consider something like this as I have no experience and how do I go about finding one? I posted this to New Members as I haven't done that yet. Hi everyone! Truly a green newbie!

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