I have a class C property in Mansfield, Ohio (100 Doors) and 61 doors in Willard, Ohio (Class B). Both are 80 percent occupied due to mis-management and REO. They need minor cosmetic work. I am looking for an asset based type lending that will lend on these properties. Separate utilities minus the water bill.
The asking price for the 100 units is 1.4 MIL and the asking price for the 61 unit pro…