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Updated over 3 years ago,
Value Add Rehab Buy and Hold
I am in discussion with purchasing a JV deal in New Lebanon, NY. 165k purchase gets me 3 single units (rent ~$800 ea). I also receive a large concrete building that needs about 150k of work. After that work is complete, we will have 1 3 bedroom rental upstairs and 2 1 unit bedrooms downstairs with a potential store front / office use space.
My question is in regards to financing. What type of commercial loan is available for the purchase and rehab?
Thanks!