Buying scattered units inside a bigger multifamily complex

[Guillermo Rodríguez]

Hi all! This will be my first multifamily deal. It is 18 doors scattered throughout a bigger complex of 88 doors total, so I will be adquiring 20% of the totality.(20% voting rights on the HOA!)

I can not get a competive rate on this deal because the banks say that they do not do “ fractured” deal.

I have a hard money offer for 25 % down and 6.5% 3 yr prepayment penalty (6 months interest).

My question is: when I try to refinance it, let’s say in 3 years time, I will run in the same scenario of getting a higher interest rate since it is a fractured deal, correct?