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Updated over 5 years ago on . Most recent reply

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11
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0
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Taras Kokhman
  • Investor
  • DE, PA
0
Votes |
11
Posts

How to combine the loans?

Taras Kokhman
  • Investor
  • DE, PA
Posted

Hey everyone! I came across a valuable deal in Miami, FL. Its is 4 unit building that is 85% vacant and need some minor renovation. 


The seller accepted our offer of 550k and willing to finance 250 for 5 years. We are looking to finance other 250k to make a purchase. The end goal is to fix up the property, increase value and refinance within 1 years and hold it.
What are the beat ways to finance remaining 300k ? Can the hard money lenders help? Thank you.

Most Popular Reply

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598
Posts
271
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Roni E.
  • Specialist
  • Earth 2.0
271
Votes |
598
Posts
Roni E.
  • Specialist
  • Earth 2.0
Replied

Hello, how is the building 85% vacant as it is 4 units. if 3 out of the 4 units vacant that would be 75%. Also, I would just double check comps and maybe it would be better to find a cash flowing deal before this one.

  • Roni E.
  • Loading replies...