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Updated over 8 years ago,

User Stats

29
Posts
2
Votes
Jeremy Phillips
  • Investor
  • Lexington, KY
2
Votes |
29
Posts

Private lending

Jeremy Phillips
  • Investor
  • Lexington, KY
Posted

I have an apartment building that I want to purchase its annually cash flow is $66,300.  If we raise the rents to the average rents in the area it could possibly net annually $85,000.  It needs somewhere in the neighborhood of $ 95K - $120K in renovations.  How should I get the funds for renovations if I want to do owner financing?  Do you think I should approach a private lender because there will be $100K in equity once the project is finished?  It also have a duplex on the property that could be renovated and a building for a laundry mat that is not in use.   Just trying to figure out the best way to approach this deal because of the upside. 

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