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Updated over 11 years ago,
Want to Rehab, but there's a great buy and hold deal...
My initial plan was to buy rehab and sell houses until I can afford to buy some nice rentals. I have a little chunk of money, that I was going to use along with a private lender. The problem is a house just came for sale in my area that seems like a good buy and hold option. It's 2 res. units and 2 commercial units all fully rented. It comes with a back lot that has already been approved for 14 storage garages, that I would plan to build someday. Right now the rents are bringing in 2750, and it's on for 325k.
I don't have the full 20% down payment. Do I have any options here? Or should I just forget about the whole thing?