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Updated about 16 years ago on . Most recent reply

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50
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Joe Shively
  • General Contractor
  • Greenville, PA
0
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50
Posts

How to start this deal??

Joe Shively
  • General Contractor
  • Greenville, PA
Posted

I have come across an apartment complex that I think could have a lot of potential. It's a 72 unit complex with multiple buildings, listed for $600,000 and says please bring all offers. The company that has it listed says that 16 units are currently rented and there needs to be appx. 1.4 million in rehab work to bring all the buildings up to par. ( There estimate I have not looked into that extensively on my end).
My question is where do you start? Do you run all numbers come up with the actual estimated rehab cost, work with the sellers and negotiate a price than look for investors, or the other way around, find investors first?
I was also wondering is this something that a bank would look at to finance? or is this something that you would bring in partners?

Any questions, comments, or ideas would be greatly appreciated.

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