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Updated about 8 years ago,

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6
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Keisha Orr
  • Investor
  • Houston, TX
0
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6
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Tennesse deal code name: what am I getting myself into

Keisha Orr
  • Investor
  • Houston, TX
Posted

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?

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