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?