5 unit multifamily financing

[Austin Kuritz]

Hello BP,

I came across what seems to be an amazing g deal. I have a 5 unit multi family in Warren MI, off market. Needs rehab through out, however, I have no money but this deal is too good to pass up. I was wondering if you could get an FHA/203k loan for a property with 5 units. If not id really appreciate any recommendations to someone with money that i could partner with.

Thank you,

Austin

[Anthony Dooley]

Put it under contract with a financing contingency of 30 days. Then shop lenders. Hard money is a last resort or if your credit is bad. A local bank is your best bet, but you need to have money to put down. This is where family and friends can help you. You do all the work and cut them in on the equity once you refinance after repairs. Or, wholesale it.