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Updated over 7 years ago,
Need Rehab funding for 8-10 unit apartment..
Greetings BP people. I have a possible deal on a 8 unit apartment building, could make into a 10 unit easily. The project will require full interior completion and some exterior work as well. Basically it's just a shell and needs finishing.
I have run the numbers and the property will cash flow very well after rehab using conservative numbers. I'm acquiring bids from several local GC's and should have those within a week or so. My past experience as a GC gives me some idea of the cost but I want some local eyes on it. Property is located in Florida near major city.
I am able to purchase the property but I will need to a partner or investor to cover the rehab portion. This will be my first large apartment deal so any advice or suggestions are appreciated.
I'm ready to move on this deal but I need some help. I'll do the leg work and oversee the project from start to finish. Upon completion the property will be professionally managed.
Let's do this.
Thanks,
Chris