My name is Brady Olson, owner of MERL Renovations, LLC.

Renovate, paint, fix, make it a home again.

However, the sponsor was being evasive on other wording too (about the renovations having the requisite permits and approvals from the DOB).

I've contacted the land bank and they have agreed to set aside the judgement and allowed me to enter into an agreement to renovate the home and get it occupied in a reasonable time.  

We currently have 50 fully renovated and tenanted properties that sell for an average of $83,000, in Memphis, TN.$83,000 x 20% = $16,600 + closing cost you are roughly out of pocket $20,000 With $50,000 you could get into 2 maybe 3 properties right away and start collecting your returns, right away.We manage nearly 2,000 homes in the area, so you would be taken care of on the back end as well. 

Central location - relatively motivated sellers - mostly fed subsidized (mental health) - is it worth renovating and raising rents      - is it possible - small Apts (mostly 1 br) - option to hold and cash flow then repurpose as city changes zoning / vision How do you finance a large commercial purchase like this - % down / LTV - amortization / ARM - cash flow requirements - inspection requirements - special clauses for maintenance refinance options later Asset or personal info more important Code requirements for commercial loan Deferred maintenance list -What are main issues with 50 year old apartment building ?

We look for executive types who do not want to manage the renovation process... they want to approve a scope and cut a check. 

Also more likely there is deferred maintenance and less likely they've recently renovated the kitchen, baths etc. which is almost always the case with this post crash group.

I'll get to that shortly, but once renovated:2 studios @ $425 p/m = $850 (but just call it $425, because I'll live in one of these).Asking price: $79,900What I want to offer and how I want to propose it:Offer: 70k, 3k earnest money, seller carries 12k for 3 year term at 3%.Renovation (this is fairly crude until I walk through with a good friend of mine who has been at this a while): 40k - I would also hope to save on some of this by doing much of that myself.

I'll get to that shortly, but once renovated:2 studios @ $425 p/m = $850 (but just call it $425, because I'll live in one of these).Asking price: $79,900What I want to offer and how I want to propose it:Offer: 70k, 3k earnest money, seller carries 12k for 3 year term at 3%.Renovation (this is fairly crude until I walk through with a good friend of mine who has been at this a while): 40k - I would also hope to save on some of this by doing much of that myself.