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Updated about 1 year ago on . Most recent reply
Buying a vacant apartment complex
I am looking to purchase my first rental property. I’d really like to start with a small apartment complex, less than 40 units. The issue I’m facing is that the properties I am interested in are vacant. Can you please advise me as to how the lending process will work as well as how the property will be valued since there would be no current cash flow. TIA
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#5 All Forums Contributor
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Quote from @Carlos Ptriawan:
Quote from @Jared Sliwinski:
I am looking to purchase my first rental property. I’d really like to start with a small apartment complex, less than 40 units. The issue I’m facing is that the properties I am interested in are vacant. Can you please advise me as to how the lending process will work as well as how the property will be valued since there would be no current cash flow. TIA
man, this would be the fastest way of losing money.
From a lender's standpoint....For sure a money loser.