New Hampshire Hard Money Deal - Close

550

None

No

Concord

New Hampshire

$335,000

$30,000

I have a contract to purchase this property. The owner wants a private sale and would like to close as soon as possible. I plan to purchase the property and use it as a rental investment property. There are currently tenants on a month-to-month lease for $2500 per month. They would like to stay and are willing to pay a higher rent. I would like to make a few upgrades to the property and eventually refinish the basement into an apartment to generate more income, but at the moment the property is in good condition and only requires a few minor repairs (garage door, back steps). This is in a desirable neighborhood. Any private lender would be guaranteed a good rate of return on his/her money. And although my credit score is not great there is very little risk to investing in a property that has tenants ready to cover the mortgage and that is being purchased at a price that is $119000 below its bpo as determined by a licensed real estate agent.