Posted by mattman on July 10, 2002 at 21:33:23:
first of all - you need to get your credit fixed. it will save thousands in interest and secondly you don’t have enough $$ for a 4plex with bad credit.
try icrservices.net/web/mgiegerich
review it, its worth it.
How to finance new construction 4plex - Posted by Pete
Posted by Pete on July 08, 2002 at 14:14:35:
I am very new to real estate investing
What I would like to do:
Build a 4plex (700 sq ft per unit) for a profitable nitch market (handicaped) Goverment pays the majority of rent, Gross $750 per unit. After the first one is rented I would like to add a few more buildings.
How can I finance this? I have $20,000 but pretty spotty credit and no verifiable income. Already have 2 parties willing to move(family). I would like a manufactured home factory to build this 4plex. And estimate the cost to be under $150,000.
Please email me if you can help or give direction.
Re: How to finance new construction 4plex - Posted by Tim Fierro (Tacoma, WA)
Posted by Tim Fierro (Tacoma, WA) on July 11, 2002 at 15:32:34:
Pete, I am just curious here, but with 700sqft; is that for a 1 bedroom or a 2 bedroom. My first guess is that it is 4 new 1 bedrooms; but I have seen tiny 720sqft 2 bedroom homes, and smaller. 