Posted by Miss Young on September 07, 2003 at 15:08:30:
6 Properties with FMV $75k Resale Potential $85-95k Seller is asking $50k each for 5 and $20k for 1(gutted property) Total numbers: FMV $75k x 5=$375k; Asking price: $50k x 5=$250 + $20k (gutted property)=$270k
The 5 properties are currently rented with monthly income of $3,070. (FYI: the $270k asking does not include an amount to rehab the gutted property)
Should all 6 be purchased or just purchase the 5?
If all 6 are purchase how would you finance the guted property?
Financing Multipal SF Row House Property - Posted by Miss Young
Posted by Miss Young on September 03, 2003 at 18:23:01:
I have a contract on 6 SF row houses located on the same block. I have two questions:
1.What is the best way to finance this deal?
2.Should this deal be financed with hard money lenders and then refinanced out? Are there any conventional financing available for this type of deal?
The owner does not want to separate the houses. They want to sell all 6 properties together. I have been told that it is best to purchase each property individually.
Re: Financing Multipal SF Row House Property - Posted by Jeramy
Posted by Jeramy on September 03, 2003 at 18:35:13:
It’s possible to finance them all together with cross collateralization. May also be smart to finance them all seperatly. Shoot me an e-mail with the numbers and I may be able to work it a couple of different ways.