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Updated over 8 years ago,
20 units need funding for????
Hi,
Been on bigger pockets about 1 year and probably the 3rd time posting!
I'm looking at a 20 unit total Multifamily investment. Here's the kicker. It's not 1 building. It's a 6-plex fully rented all at $700, am 8-plex completely empty (needs about 8-10K per unit), a two triplexes fully rented at $700 each, so out of the 20 units 12 are rented and 8 need a full rehab which will rent for $750-$800 each.
Two questions:
1. Can I go with a traditional lender? Community or local bank? And if there's any private lenders here on this forum that would be interested in funding this deal?
2. How do I figure out what's it worth in its current condition and the ARV?
Goooo!