Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 10 months ago,

User Stats

11
Posts
10
Votes
Preston Phillips
10
Votes |
11
Posts

First Investment Property Opportunity

Preston Phillips
Posted

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. 

Loading replies...