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Updated over 7 years ago,
Financing for rehab of a MF 6 unit? Lease out to flip?
I am looking at a 6 unit. vacant. 2 3 unit buildings.
Purchase will be like $580k, probably $20k per unit average rehab MAX... Originally I was thinking to BRRR it, still might... But I am now thinking flip. after driving the neighborhood... not too into it...
What are my options for flip financing...? Just Hard money?
Also... realtor/BP new friend says it will sell better if it is leased up with tenants before selling. Thoughts? To me, this seems a pig in a poke... spend $10k in holding costs renting it out, and all the $ involved... to MAYBE get a better price...? OR will the prospective buyer want to see it rented for x$ per month in order to justify price? Love to hear some experiences...