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Updated about 8 years ago,
Tennesse deal code name: what am I getting myself into
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?