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Updated about 9 years ago, 11/01/2015
32 Unit Apt Complex, should I wholesale or keep it and rehab?
Hi Everyone,
I am new to the forum. I currently own a 32 Unit apt complex free and clear that I picked up for a steal!
I have had many offers but at this point I am wondering if its better to keep it and rehab myself. The income per month works out to be $14,000 per month (on the low end). I have bids for the rehab at $325,000. I have a local Realtor in place to manage the property and the project if needed. I can either make a quick $100,000 upfront for wholesaling it or make $170,000 per year. The issue is I have never owned a multi unit of this magnitude and don't know where to start. I am not sure even where to get the money to do the rehab. I would consider taking a partner and going 50/50 but again I wouldn't know where to find someone. I just don't want to sell myself short. Owning the property would be ideal for me and my family's future. Please help!