i need money.....

On another newsgroup here, i mentioned an opportunity to buy a 4 family unit bldg with great RR opportunity. The units each need about 13k in repairs. Here is the scenario

500k for the bldg = 125k per unit
5300 = RR = (1400 x 3(3br) + (1100x1(2br)

i’m approved for the mortgage loan and closing costs

i’m willing to do the improvements with a contractor in my area and will have the units ready two weeks after closing. My need is the repair costs.

Is it possible to find an investor to provide a note or partner with?
Am i asking for too much?
Is there life in the universe?

Hello, Is there a business attached to this property? If so, then you could use a commercial loan. If not, you would need a residential loan. Hope this helps.

You already have the approval for the mortgage? Is this correct. Is the contractor’s fee already included in the repair costs?

You might be able to get a line of credit for the repairs? Is there any equity in the building?

Would the contractor become your partner for a percentage? what is your percentage rate?