Rehab an Abandoned Multi Family

[Marcus Powell]

I have been wracking my brain for strategies to finance the purchase and rehab of a 7500 sqft, abandoned, 3 story, multi family property in the middle of our downtown. My realtor is also the manager of our city's largest property management companies and isn't sure how to give it an ARV since it is so unique and has some historic value. It was origanily a 3 bed 1 bath on each floor but I would like to make it a 2/1 and 1/1 on each. Has anyone done something like this before and have suggestions? Thank you all.

[Sultan Ali]

For a unique historic property, get ARV from appraisers who know downtown rehabs, run numbers off projected rents (income approach), and get a GC bid. For financing, look at local banks, private money, and historic rehab credits.