All Forum Posts by: Adrian Miller

Quote from @Paul De Luca:

@Adrian Miller

How many lenders have you spoken with?

$100k in cash isn't really enough to find a decent commercial multi-family property in Chicagoland, so I recommend using that money to buy 2-4 unit deals. Ideally house hack one or more and you could also do 15-20% down on another.

Thanks Paul,

Yea right now my focus has been 2-4 unit buildings, but there were a couple of 6-10 unit buildings that I could just do 1 of instead of multiple 2-4 unit buildings. I was trying to see which way was better. I'm leaning towards the multiple 2-4 unit buildings. I need to get some momentum going. I've made offers, but they've gone with other deals so far. But I won't stop. 

Regards,

Adrian

I have a deal that I'm having trouble funding. The property is $70k needs about $200k rehab and has a conservative ARV of $400k. But no lender will fund it because the as-is value is less than 100k. What recommendations do you have?

Also if I have about 100k in cash would you fund a couple smaller deals (2-4 units) or buy 1 bigger multifamily?

I have a deal that I'm having trouble funding. The property is $70k needs about $200k rehab and has a conservative ARV of $400k. But no lender will fund it because the as-is value is less than 100k.

Does anybody have any recommendations?