How To Structure Deal??
Hi everyone!
Well, I've located a property, a multi-unit to be exact. It's vacant and needs a lot of work to be able to put renters into it. My question is how do I go about to try and buy it without having my credit report pulled dozens of times? I've been through a mortgage broker who says he can only get $150K and this property is in an area where single family houses sell for $250K and up. The building has been in this condition for a while now. I was thinking I could get seller financing but how would I be able to come up with a down payment and get a loan to improve the property. From observing other houses in my farming area, I think this building would be great for the area if rehabbed as well as appreciate rapidly. Does anyone have any suggestions, I would really really appreciated it? Sorry for the long post.
Tania (Chicago)
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