A fully paid for larger MF. 

Hi Jonathan,Congrats on your first big renovation deal—it’s an exciting challenge!

There is a catch - the couple wants to 1031 the funds into their sons next larger project which is TBD.

Aiming for larger properties on your first deal (100+ units) is definitely very ambitious. 

Hey Gene, for your situation, you probably need to get a fix&flip loan to acquire and do the renovation.

Purchased on 4/19/2024 for $20,000, we invested $45,000 in strategic renovations to transform the property.

@Matthew Cook I would NOT pay for the renovations unless I was on title or had a very formal contract written about the split of profits.

You can 100% use an FHA-203k renovation loan on multi-unit properties up to 4 units. 

I’m new to private money lending, so while I understand the concepts in principle, I’m still figuring out how to identify and connect with these investors in practice.To clarify, I’m targeting 6+ unit multifamily properties, and private money is a way to scale my expertise from smaller properties into larger ones.

With $65,000 invested in strategic renovations, we transformed the home by modernizing key areas and enhancing its curb appeal.