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Updated 10 months ago,
First Investment Property Opportunity
Hi everyone,
My fiancée and I have been given the opportunity to purchase our first investment property off market from a family member. We have purchased 2 previous owner occupants. I am looking at advice, references on financing options. The PP is around $72k but current value range is around $140k+ based on recent comps (not a lot in the area though). We have about $35k liquid for renovations and another $15k ish set aside for a down payment. My question is if anyone has any referrals on lending for the remaining loan amount necessary. We are looking into investment loans but know that if the property is considered unlivable that would be difficult, but we also have not had a GC look at the scope of work yet as we were told of the deal this past weekend (property is 5 hrs from us). Any and all help would be greatly appreciated.