All Forum Posts by: Andrew P Angerer

We are looking at a full rehab of a 6 plex, lower income area. The units are already 6 1 bedroom apartments, expected gross income 3k monthly. What if we made it a 4 plex with 2 3 bed 2 bath units and 2 1 bedroom units? Same income expected.

There are conventional loans that will let you roll in rehab money.  Home only needs to be livable not fully renovated.  No holes in walls, stove, working ac and heat.  Gmfs sells a 5% down renovation product, the financed repairs do need to be done by a contractor, no changes on this to other contractors so choose wisely. If gmfs is not in your area check multiple lenders.  Try to find lenders that do in house underwriting and have a renovation product.