Duplex Under Contract

[Dustin McGee]

Hello all,

I am in need of funding asap. I put a duplex under contract with a hard money lender that would finance the project but they ended up not working out for the deal. 

Here are the details:

Purchase Price: $50,000

Rehab budget: $18,000

ARV: $120,000

Rents Per Door: $700

Time Project Will Take: 3 Months 

I am wanting to buy and hold because the area is more of a renters market. I am in an inspection period on the property with the seller being very easy to work with. 

My thoughts are to get private money or hard money. If I get hard money I would get the duplex refinanced to pay off the hard money lender. Zillow and Trulia estimate the property to be worth $125,000 but I am going to get a appraiser out there to get a hard number. The rehab budget is based on contractor quotes.

Please send me and email at [email protected] or call/text me at (540) 247-9903.

Thanks guys!