4unit Multi Family Rehab/FHA Washington DC

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4unit Multi Family Rehab/FHA Washington DC

Devonte Dinkins
Property Manager · Hagerstown, MD · Member since 2014 · 76 posts · 13 votes

Hey Everyone,

Does anyone know if its possible to buy a Multifamily that needs to be completely renovated with a FHA loan? I want to buy the apartment for a very low price and then include renovation cost in the loan. For example buy the property for 50K and then do 100K in renovations, and have a total loan amount of 150k. Is this possible?

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  • Jamal Atwell
    Real Estate Agent, Real Estate Investor · Arlington, VA · Member since 2014 · 62 posts · 15 votes
    12y

    I'm still new to flipping and stuff but I believe a 203K loan is what you're looking for. I think those loans include rehab costs in the loan.

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  • Devonte Dinkins
    OP
    Property Manager · Hagerstown, MD · Member since 2014 · 76 posts · 13 votes
    12y

    @Jamal Atwell

    Thank you I will look into the 203k loan..

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  • Raymond B.
    FL · Member since 2009 · 2k+ posts · 357 votes
    12y

    @Devonte Dinkins

    @Devonte Dinkins

    To make the @ work, do the following:

    Hold down the shift key and type @?

    Look below this Window, and you will see a list of names of people that have posted in this thread.

    Click on the name of the person that you want notified via an email, that you responded to them.

    If you are a Colleague with anyone that has NOT posted in the thread, and you want them to see your post, hold down the shift key, type the @ and the first 4 letters of their First or Last Name.

    Then look below this Window and click on that person's name.

    Raymond

    @Devonte Dinkins

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