Posted by brandon on September 15, 2007 at 15:39:07:
I assume you mean the ability to finance the repairs within the purchase loan. I really don’t know a whole lot about the programs available for that, but can point out some other things. If the repairs are minor and you are in a state where deposits can be kept in your operating account they may cover the costs. Just make sure to ask in your purchase that they pass to the new owner. Also you can have the owner escrow funds for some or all of the repairs as well. That said just make sure you dont spread your operating account too thin. You will need reserves for any apartment building. Good luck and hopefully someone with more info will chime in.