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Updated over 4 years ago on . Most recent reply
First Duplex...a few questions.
Here is a summary of the deal in front of me:
Duplex in Minneapolis, MN (investment property, I won't be occupying)
Purchase Price: $250,000
Rehab needed: $10,000
ARV: $300,000
Units w/ est. rents: 2/1 @ $1,400 & 1/1 @ $900
Available cash: $60,000
A couple questions (which may lead to more questions):
1.) What financing options should I be considering? commercial 20 yr w/ rehab funds? hard money and refi after repairs and renters are in place? something else?
2.) Should I be forming an LLC and buying as a commercial entity or is it okay to buy in my name for the first deal?
Thanks in advance.
Most Popular Reply
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@David B. @Tim Swierczek has some awesome rehab loans.
2. I would form an llc and get good insurance but always consult a good attorney
- Jordan Moorhead
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