FHA 203K Rehab loan

[Shamar Gregg]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $230,000
Cash invested: $260,000

This property is my second investment. It is a 3 unit with a 203K rehab on it. Currently in the process of waiting on permits from the city. Building as is 9 bed/ 3 bath, 1500 sq each unit. Currently the plans are to convert the dinning room into a master bedroom with a bathroom. Purchase $230K (17K seller credit) so technically i paid $217K! 260K renno budget. Estimated completion end of year.

ARV 505K