I need a loan for a 7 Duplex/Triplex deal. Any advice?

[Chris Jenkins]

I have recently come across a deal in Ohio for seven duplex/triplex buildings. 4 are rented and the others need work.  I am going to pay for the 30k in work that needs to be done.  I just need someone for the purchase of 300k.  I probably will be able to put in an offer that is lower than the asking since I have to get work done to them.  Are there any companies or people that I can contact about this?  Thanks for any help you guys may offer.

[John Warren]

Chris,

Congrats on finding an interesting deal like this. A couple thoughts. Are these all contiguous on one piece of land, or are these a package where they are all spread out? I would imagine that you could get a commercial loan to cover them. Have you looked at that route yet? I personally will not buy packages of houses, duplexes, triplexes, etc, because these are often not very competitively priced if you dig into the numbers. I have been offered many such packages on visits to Indiana and Michigan. 

 If you can't go the commercial route, I would be a little wary of this deal. Unless you are local, you can really get taken advantage of buying out of state portfolios. Having said that, I love out of state investing, especially if you are buying apartments. I have loved my 20 unit in South Bend, Indiana, and hope to buy more apartment complexes like it.