4 Unit Needs Work
i'm looking at a bank repo that I can get for $20,000 max. Probably needs $12-15K to get rent ready. I thought about section 8. It's 2 nice sized 1 bedroom units and 2 efficiencies. Rents would be $500 each for the 1 bedroom and $450 each for the effic. Would I rule out hard money lenders if I can get into the property with no money basically?
I think you may have trouble getting such a small loan. What would the property appraise for? It seems you likely have a great deals in terms of cash flow here!
GOOD LUCK