Potentially my First deal!! Help!!

[Seneca Hampton]

This could potentially be my first deal but I am having a hard time making sure that I have considered everything and deciding on whether a Hard Money Lender would be a good option. So here is the situation:

A Fourplex worth 550-600k. Gross income of 47k. Rents are below market rent by $300 per unit (could be making 60k annually). Needs about 60k+ of reno to get it there.

Expenses are around 20k+ not including Prop tax, Ins, HOA or mortgage.

I am thinking of getting a HML, purchase, refinance to pay loan back and have enough left to do some improvements. What do you guys think?

[Jason Eyerly]

Originally posted by @Seneca Hampton:

Thanks @Jason Eyerly I'll start reading it now!

Good luck! Let me know what happens, and let me know if you score that deal! I'm interested to see how it works out, I'll be incredibly jealous.