Nate Hudson

HB Property Solutions, LLC in Fulton, NY

Nate Hudson with David Hudson,Brian Hudson,Jennifer Hudson

451 & 455 S 4th are two commercial buildings with office space on the first floor and apartments on the second floor of each building. rnWe received a phone call from the listing agent because the properties went into foreclosure. rnOur team took a look at the properties and we were very interested. We submitted an offer that was contingent upon the bank financing it for us. We went through a local bank whom we have a good relationship with. rnThere was another offer where the bank accepted because it was more money. A month or so passed and that deal fell through so we re-offered the exact same offer. rnThe seller accepted our offer this time and they were financing 75% of the purchase price for 20 years. We worked to get private funding for the down payment and the $22,000 rehab. Once we secured the property and completed the rehab, we were able to occupy several of the apartments as well as some of the office space. rnOur team went back to the same bank to refinance and pull out the equity that as left on the properties. rnBy doing this we were able to free up $50k of private money to use towards our next deal plus some. Once we get this deal 100% occupied, our cash flow should be $2000 a month! rn