ADVICE NEEDED
I found a lot of properties for sale for $1,859,000. I would make a passive income of 25k a month plus it includes vacant land for building. All places are rented out.
I have no money, still live in an apt. until April. I have a couple credit cards I can get 10k on.
My credit is 699. Any and all ideas are appreciated.
need a little more details, what kind/type of property? what are you looking to sturcute. I don't even know what questions to ask.
We need more details.
A commercial lender will want to see the leases on the units and will consider approx 75% of the total income these units will create.
Besides the $25K per month you must evaluate and provide details as to what are the operating expenses, taxes, insurance costs, etc. for the property.
Eric & Rosa
[addsig]
HERES THE INFO THUSFAR
BIG PACKAGE DEAL, NO REHAB AND RENTED
815-817 SW 7 ST
HOMESTEAD
DUPLEX 1/1, 1/1 RENTS ARE $330 EACH
1010-1016 SW 7 ST
HOMESTEAD
2 DUPLEX ALL 1/1
TWO UNITS RENTED AT $425 /MONTH
OTHER TWO RENTED AT $450/MONTH & $385/MONTH
SW 8 AVE 9 AVE - 9 CT
HOMESTEAD
39 SINGLE FAMILY HOMES ALL 1/1 RENTED FROM $390 TO $450/MONTH
10 HOMES ARE ON SECTION 8 LEASES
THIS IS A LARGE 3-4 BLOCKS OF LAND ON ONE FOLIO RENT ROLL & ADDRESESS AVAILABLE
SW 7 ST, 9 AVE, 6 AVE
HOMESTEAD
11 VACANT LOTS CLEAR AND READY TO BUILD
SW 8 AVE, 10 AVE, 7 ST
HOMESTEAD
MARKET COMPOUND, STORE, AND AN OFFICE
MARKET RENTED AT $1,200/MONTH
STORE RENTED AT 600/MONTH
THE PERFECT COMPLIMENT TO THE PACKAGE!
LAUNDROMAT BRINGS IN A GROSS INCOME OF $5,000/MONTH
SALE PRICE: $1,859,000
jjetts,
Check your pm, I have a website for a hard money lender that specializes in these types of loans. I will pm you their website for you to look over.
Best of Luck!