Manhattan's most desirable neighbourhood for living UWS REO..

[Elle Xuxin]

there's one about half block from 1 train.. 80% renovated when the developer ran out of money (it's in good shape).. contractors estimated about another $500k work into this 5 story townhouse.. two 2bd 2ba floor thru unit and 1 4bed 3 ba duplex with roof top terrace.. plus a ground retail space..

real estate agents estimated the rent in this area for 2bd 2ba is at least $4200.. and duplex at least $16,000 .. retail unit was already requested by a chain coffee shop for $12,500 .. annual expenses around $53k.. 7 and up cap rate..

bank wants $4.6mil.. which is way below market rate (local brokers estimated $9mil FMV when it's completed)..

question is.. how to do this deal with no money down??