Tennesse deal code name: what am I getting myself into

[Keisha Orr]

Hi bigger pockets community,

I just signed up and I need your help. I have a multi family deal in Tennessee. It is a 140 unit complex. The owner is willing to finance with zero dow. I have a problem though. Actually several.  The property needs to be rehabbed and it is completely vacant. Another problem I have is that lending is hard in Tennessee with the exception of Nashville. How do I secure a loan for the rehab with no tenants? I'll include numbers

Purchase price(owner carry)= $500,000

Rehab (@15k/unit) $2,100,000

ARV= $4,800,000

Any lenders or investors out here that can provide insight?

[Stephen Akindona]

Multifamily investments are not valued by comparable sells they are valued based on the income they produce. What someone will be willing to pay for that multifamily will be largely dependent on what the going cap rate is for the area. It seems to me that you may want to do a bit more research on multifamily investing before you jump into a deal like this.