10 Unit Mulit Rehab ????Questions????
This is what I have so far:
ARV: 310k
Asking: 110000 (25k dwn)
Est Repairs: 120k
My offer: 95k; 20k dwn and 75k @ 7% straight interest, no payments, with an 18 month balloon.
-I would need 140k hard money @ 14-15% straight interest, no payments, with an 18 month balloon.
-After all of the repairs are done I would refinance.
???Questions???
1) Do the numbers work?
2) Will a "hard money" lender buy off on this? IF SO CONTACT ME SO THAT I CAN GET THE BALL ROLLING.
3) How hard is it get this type of property refinanced.
Thank you in advance,
Mike in Texas
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